Charnwood Property Lettings - Jargon Buster
Confused about letting? View our jargon buster of commonly used terms.
If you are new to property lettings and landlordship them you may find yourself getting confused with all of the different terms and names. Our team at Charnwood Living have put together this jargon busters to explain some of the most commonly used terms.
A person or company acting on behalf of the landlord.
Assured Shorthold Tenancy (AST)
The most Common type of tenancy agreement. These type of agreements allow a tenant to rent a property for a set period of time.
Money that is held by the landlord or estate agent to protect against any damage against the property.
A type of property that stand by itself and is not connected to any other properties.
Any damage or disrepair that is affecting the property.
Electrical Equipment Regulations
A regulation that states that all electrical equipment in a property is safe and in good working order.
A regulation that states that a property is safe from potential fire hazards.
Regulations that state that a gas engineer must inspect a property before any tenant move into the property.
The owner of a property that is being rented.
Landlord and Tenant Act 1985
An act that states the rights of tenants against their landlords.
An act of temporarily allow someone to live in you property for a regular payment.
A landlord that lives in a different location from the property that is being let.
The payments that tenants give to the landlord in exchange for staying in the property.
A letting period that covers a particular time of the year.
Rules that are imposed by law and must be followed.
Tenancy Deposit Scheme (TDS)
Any deposits that are paid by the tenant must be registered with a deposit protection scheme.
A contract between the landlord and the tenants. It states the terms of the tenancy such as the length.
A person that is living in a rented property.
The financial conditions in which some is allowed to live in a property.
The length of the tenancy.
The person or company that is responsible for the letting of the property.
A landlord that lives within the property that is being let.
If you have any more questions regarding property letting then feel free to get in contact
with our Leicestershire based team today.