Finding your way through all of the jargon and technical speak that comes with renting a property can be tricky!
That’s why we’ve put together a simple jargon buster to help make understanding the process a little easier.
Additional Person Fee: This is a fee that is added to each additional person who is to be included in the tenancy agreement.
ARLA: ARLA are the Association of Residential Letting Agents, they are the UK’s most used professional industry body for letting agents. ARLA ensure that all agents meet a certain requirement of service level and protect their client’s money.
Arrears: Late rent, or rent that is unpaid that the tenant owes to the landlord.
Check out: This is the inspection process a property goes through at the end of the tenancy, before the deposit is returned to a tenant. If there are repairs needed on the property that were caused by the tenant and are not general wear and tear, any fees will be deducted from the deposit.
EPC: An Energy Performance Certificate is used to rate the energy efficiency of a property. This is done by looking at the amount of energy the property uses along with the carbon dioxide it emits.
Fixed Term Tenancy: This is a tenancy that has a specific start and end date.
Furnished: This refers to a property that is rented out with furniture included for use within the property until the end of a tenancy.
Gas Safety Check: A legal check carried out every twelve months by a registered engineer to ensure the provision of gas to the property is safe.
Guarantor: A third party that isn’t listed as a tenant and agrees to keep up rental payments if the tenant falls into arrears.
HMO: A House in Multiple Occupation is a property that is shared by multiple residents that share communal facilities such as a kitchen or bathroom.
Inventory: A check that is carried out before the start of a tenancy to formally document the contents and condition of a property. This is often referred to at the checkout process to ensure the condition hasn’t changed.
Landlord: A person who lets out land, a building or accommodation.
Letting Agent: The letting agent facilitates the agreement between a landlord and a tenant for the rental of a property.
Managing Agent: A letting agent who also manages the property on the landlord’s behalf.
Notice: Official confirmation that the tenancy is coming to an end, this can be given by the landlord or the tenant.
Part-furnished: A property that is let with partial furnishings, these usually include white goods.
PAT test: A Portable Appliance Test ensures that electrical appliances with a plug are safe to use.
Reference: A reference involves a series of checks carried out on a tenant, these include employment checks, credit rating and checks with a tenant’s current landlord.
Rent: This is usually a monthly fee that is paid to a landlord by a tenant in exchange for accommodation.
Security Deposit: This is money paid by the tenant before the tenancy begins. This is taken as a security precaution should a tenant default on payment of rent, or cause any damage during their time as a tenant.
TDS: The Tenancy Deposit Scheme is a government scheme set up to protect a tenant’s deposit throughout their tenancy.
Tenant: The person who lives in the rented accommodation.
The Property Ombudsman: This is a scheme that was set up to allow a mediator to step in where a dispute between a tenant and landlord arises.
Unfurnished: This is a rental property that is let with no furnishings, it is up to the tenant to furnish the property during their residency.
For more expert help and advice, contact your local Belvoir property expert. Click here to locate your closest office.