Menu Search

Renting Jargon Buster A - F

A - F

READ

G - L

READ

M - Q

READ

R - Z

READ

A

ARLA - The Association of Residential Letting Agents, a professional and regulatory body for letting agents in the UK.

Arrears - Any late or unpaid rent.

Assured Short hold Tenancy (AST) - A form of assured tenancy which gives landlords an absolute right to repossession after a fixed term under the “short hold” ground.

Adjudication - A general statutory procedure for settling building disputes quickly, usually within 28 days. A decision made by an adjudicator is binding, although the decision can be changed through a court of law or arbitration.

Alternative Dispute Resolution (ADR) - There are various methods by which legal conflicts and disputes can be resolved through negotiation, conciliation, mediation and many types of arbitration. ADR is less formal than a court process and can include the appointment of a third-party to preside over a hearing between the parties.

Arbitration - A means of resolving disputes using an independent arbitrator as opposed to a court of law. The Small Claims procedure in the County Courts is an arbitration service.

B

Buy to Let - An investment where you buy a property with the intention of letting it out.

Building insurance - This is an insurance taken out by the landlord or freeholder of a property to protect it from risks such as fire, destruction or storm damage.

Breach of Contract - Failure to comply with the terms of an agreement. Gives the aggrieved party the right to claim damages, to rescind the contract or to enforce through specific performance.

Break Clause - A clause in a lease agreement giving the landlord or tenant or both the right, under specified circumstances, to terminate the agreement, before its natural end date.

C

Check-in - This is the process of settling a tenant into a rental property for the first time. The check-in process should include an inventory which describes in detail the condition of the property at the point the tenant moves in.

Check-out - This is the process of moving the tenant out of the property and includes making sure the property is being returned in the same condition as it was originally let to the tenant at check-in.

Client Money Protection (CMP) - An insurance scheme that covers any money handled by your letting agent, whether you are a landlord, tenant or other client. Provided by professional bodies such as ARLA.

Consents - This is permission given by various parties during letting a property. For example landlords securing consent from the mortgage lender and insurance company to let the property or tenants giving consent for referencing checks

Contents insurance - This is insurance which a tenant should consider to protect their personal belongings against fire, damage and theft.

Contractors - This is a generic term given to people who would carry out work on your property such as plumbers, electricians, gas engineers and builders.

D

Dilapidations (Dilaps) - Items of disrepair of a rental property arising out of a tenant’s failure to comply with the contract terms, giving rise to a landlord’s right to damages.

Energy Performance Certificate (EPC) - All properties let for private residential purposes must have an EPC. It is used to report the energy efficiency of a property and provides recommendations for improving energy performance.

F

Fixed Term Tenancy - A tenancy with a specified start and end date.

Furnished - A property let with furnishings a tenant would need to live comfortably.

Find Your New Home

Keep In Touch

If you want to be kept up to date with offers, news, tips, careers and events in your local area then follow us on your favourite social media platform