• Jargon Buster
  • Jargon Buster
  • Jargon Buster
  • Jargon Buster
  • Jargon Buster
  • Jargon Buster
  • Jargon Buster
Property Search
Search

Joint Tenancy
A tenancy where there are two or more Tenants who all have equal rights and responsibilities during tenancy. Joint and several – As joint Tenants of a tenancy, the Tenants have joint and several liability.

Landlord
Person who allows use of his property by another in exchange for rent and subject to conditions set out in a tenancy agreement or contract.

Let Agreed
A tenancy subject to contract has been agreed with the landlord and tenant.

Letting Agent
A person or company engaged to perform, on behalf of the landlord, some or most of his duties to the tenants, in return for payment.

Maisonette
A property arranged over more than one floor (i.e. a portion of the house).

Market Appraisal
Assessment of the expected rent which may be achieved for a property.

Meter Readings
Data collection from meters which display the amount of usage of a utility such as electric, gas or water.

Notice
Notification by either party of any events such as notice to end a tenancy.

Ombudsman
An independent organisation that investigates professionals such as lettings agents, or solicitors when complaints are made of their customers.

PCM
Rental figure, means per calendar month.

Penalties
A fee or charge for violating terms.

Penthouse
An apartment located on the top floors of a building usually with exclusive access.

Property Portal
A website that collates properties from a number of different sources for viewing.

Reference
Checking an applicant’s suitability as a proposed Tenant, their ability to be able to pay the rent and also the applicant’s track record in earlier rentals and employment.

Rent
Payment made by a tenant at intervals as specified on the tenancy agreement in order to occupy a property.

Rent Guarantee
A form of Landlord insurance where, for a relatively small annual fee, landlords can protect against loss of rent due to a breach of the tenancy by a Tenant. This is included on all our Fully Managed Properties.

Smoke Detectors Act 1991
This act governs the necessity for hard wired smoke detectors to be installed into all newly built properties since 1991.

Studio Flat
A studio flat has one bathroom/shower room and an open-plan living area that incorporates kitchen, lounge and bedroom facilities.

Tenancy
The tenancy is the granting of temporary possession of a property to a tenant by a Landlord.

Tenancy Administration Fee
A fee which is collected by an Agent to a Tenant in order to commence the necessary tasks to create a tenancy.

Tenancy Agreement
The Tenancy agreement legally identifies the rights of both tenants and landlords by detailing all the terms and conditions of the rental arrangements.

Tenancy Renewal Fee
A fee which is payable by the Tenant to the Agent in order to effect a renewal of the tenancy for a further term.

Tenant
The Tenant is the person/party legally entitled to temporary possession of a property.

Utility Bills
These are normally electricity, gas and water. Under most circumstances the tenant is responsible for paying for these.

Viewing
An appointment where an agent shows applicants around an available property.

Void Periods
Where a property available for rent remains vacant.

Wear and Tear
The day to day deterioration of a property through normal use.