When it comes to renting property there is a lot of jargon and phrases that gets used. Our Jargon Busting guide below will hopefully help you understand a few of the most common phrases that you will come across. At My Place Properties, we want to make your rental and leasing experience as simple and hassle free as possible. If you have any questions please get in touch and we will try our best to help you!
Client Money Protection
Out of Hours
Energy Performance Certificate (EPC)
Gas Safety Certificate
An examination of the property condition carried out periodically throughout a tenancy at a time pre-arranged with the Tenant. The inspection is designed to highlight any tenancy issues and repair requirements.
This is where a tenancy due to come to an end can be extended or renewed with the consent of both the landlord and the tenant. Extensions and renewals may include a change in rent.
Section 21 Notice
A Section 21 Notice, named after Section 21 of the Housing Act 1988, is the notice a landlord can give to a tenant to regain possession of a property if the tenancy is an Assured Shorthold Tenancy.
Some simple maintenance responsibilities for which tenants are responsible at a property, rather than the Landlord. For example changing light bulbs, replacing smoke alarm batteries or tightening a loose door handle.
Money Laundering Regulations
These are regulations which mean we are required to make checks on potential landlords and tenants to make sure the property and any rent is being paid from legitimate sources.