The glossary provides our definition of various terms used on this website. If you come across a term that you do not understand, please let us know and we will add it to the glossary. Email ask@nfasp.org.uk
Affordable rent
A rent that artists can afford to pay in addition to the cost of somewhere to live. See 'benchmark of affordability' for average affordable rents.
Artists
The NFASP defines visual artists needing affordable studios as visual artists who make art work primarily for its creative, cultural, intellectual or philosophical value, rather than for its commodity value.
Artists in need
Artists who are unable to afford to rent workspace on the open market in addition to somewhere to live.
Benchmark of affordability
A national survey of the affordable studios sector conducted in 2004 showed that the average ‘inclusive’ rent for a studio in England was £5.82 per square foot, per year. The average ‘inclusive’ rent for a London studio was £7.54 per square foot per year. This figure, updated to 2007 prices – approximately £6.50 per square foot per year for England and £8.50 for London – may be taken as a benchmark of affordability.
Discretionary rate relief
If you are a charity and you receive mandatory rate relief, your local authority may decide to further reduce the amount you have to pay, or even cancel the bill altogether. Decisions are made on a case-by-case basis.
Exempt charity
Registered under the Industrial and Provident Societies Act.
Formally constituted
Organisations that are constituted as companies, charitable trusts, CICs or other bodies with a formal structure and governing documents such as a memorandum and articles of association, or a publicly available set of rules, stating the organisation’s purpose and aims.
Full-time equivalents
The number of paid staff in your organisation if all posts were full-time. (E.g. If you employ one person for 3 days a week that is 0.6 f/time equivalent. One f/time person plus one 3 day a week person is 1.6 f/time equivalents).
Gross square footage
This is the total internal area of the building or premises (known as the GIA or gross internal area) which includes corridors, entrances, toilets etc and is usually the basis for calculating the rent paid to a landlord on commercial premises.
Inclusive rent
An inclusive rent is a rent which includes insurance, repairs and maintenance, business rates, caretaking and management - all costs except utilities.
Mandatory rate relief
If a property is used wholly or mainly for charitable purposes, or the institution or organisation occupying it is established for charitable purposes only, or is occupied by people administering a trust established for charitable purposes only, you are automatically entitled to an 80% reduction on your bill.
Net square footage
This is the total square footage of all the studio units (i.e. the space let to artists excluding corridors, toilets, gallery space and space let to other tenants).
Projected costs
The rent is reviewed in accordance with a projected budget - a realistic estimate of income and expenditure agreed in advance.
Registered charity
Registered with the Charity Commission
Revenue funding
Regular, annual funding received by the group or organisation towards the cost of its activities.
RPI
Where the rent to be reviewed increases in line with the increase in the annual retail price index over the same period.
Sustainability
The NFASP recognises that few organisations own the buildings they occupy, or have long-term leases, but expects its member studio organisations, as far as possible, to aim to provide secure, affordable studios for the long-term.