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Definitions (26)
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assured tenancy
This type of tenancy agreement is usually issued by a housing trust or housing association. It offers some security in that as long as you do not break the terms of the tenancy agreement you may continue to live in the property.
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assured shorthold tenancy
This is the most frequently used tenancy agreement by landlords when letting residential properties. It is also referred to as an "AST" or "Shorthold Tenancy".
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buildings insurance
Insurance against the damage or destruction of the permanent structure of a property.
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contents insurance
Insurance to cover the damage or loss of items and belongings within a property.
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contract
A legal document that details the agreement between buyer and seller that binds both parties to complete the transaction.
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credit check
A search most commonly invoked by a lender through a specialised company to ascertain if an individual has County Court Judgements (CCJs) or a bad payment history.
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deposit
A sum of money (usually a month's rent in advance) paid to the landlord (or agent) of the property, which is returned at the end of the tenancy, subject to the condition of the property.
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energy performance certificate
EPCs give information on how to make your home more energy efficient and reduce carbon dioxide emissions. All homes bought, sold or rented require an EPC.
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ground rent
An annual charge levied by the freeholder to the leaseholder.
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guarantor
An individual who offers to be contractually liable, both financially and legally, should a tenant fail to pay the rent during their tenancy, or in the event of damage to the property.
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