Agent – A person who looks after the property of a landlord for a sum of money, they can be looking after it in a variety of ways; they will usually be the contact point for the tenant.
Appendix – An addition to a document at the end.
AST – Assured Shorthold Tenancy, the tenancy agreement that we use. Limited security of tenure.
CP12 – Gas Safety certificate. Yearly renewal.
Credit Check – A check on a person’s ability to repay debt/ make rent payments.
Deposit – An amount of money that is handed to the Landlord/ Agent in case of damages or unpaid bills. Given back to the tenant at the end of the tenancy so long as there are no outstanding bills to be paid and there is no damage.
DPS – Deposit protection service, A Government approved scheme for holding tenants deposits securely. Tenants who’s deposit is held by the DPS must be informed of this and must have had the information from the DPS passed to them.
EPC – Energy Performance Certificate. Usually 10 year term.
EICR – Electrical Installation Condition Report
HMO – Houses in Multiple Occupancy. Were the landlord lets to three tenants who form more than one household and share kitchen or bathing facilities.
Inventory – A list of items present in the property.
Landlord – A property owner who rents out their property in return for rent (income).
LOEA – London Online Estate Agents.
NICEIC – Electrical certificate. Usually 5 year term.
Reference – A letter/ report about a person by someone who knows them.
Rent – A regular payment made by the tenant to the landlord/ agent in return for the property they are occupying.
Section 21 a – An official document served after the fixed term of the tenancy requiring possession of the property on a set date.
Section 21 b – An official document served within the life of the fixed part of the tenancy requiring possession of the property on a set date.
SGR Secure Guaranteed Rent.
Tenant – A person Renting accommodation from a landlord/ agent