Common rental terms every renter needs to know

Renting your first place can be exciting, but navigating the world of tenancy agreements and landlord-tenant-agent relationships can feel like learning a new language. Fear not! We're here to break down some common rental terms to help you feel more confident in your new home.

Letting Agent: Your property partner, finding you the perfect home and helping your landlord find fantastic tenants.
Assured shorthold tenancy agreement (AST): Your rental rulebook! This is the holy grail of your tenancy. It's the contract between you and your landlord, outlining your rights and responsibilities.
References: Your rental resume. We get these from your previous landlord and employer. They show your landlord you're a responsible tenant.
Deposit: This is a sum of money you pay your landlord/agent before moving in. It's held as security in case of any damage to the property. Don't worry, this will be protected by a tenancy deposit scheme. These schemes include the DPS (Deposit Protection Service) and the TDS (Tenancy Deposit Scheme). If a landlord fails to return a tenant's deposit or you would like to dispute any deductions, these schemes are available for support and mediation.
Rent: This is the amount you pay your landlord for the privilege of living there. It's usually paid monthly, but check your tenancy agreement for exact dates.
Rent Arrears: Uh-oh, rent's overdue! This happens when you can't (or forget to) pay your landlord on time. Don't panic, simply pay the outstanding amount to get back on track.
Inventory: An inventory is a detailed record of the property's condition when you move in. It's important to check it thoroughly and report any discrepancies.
Inspections: These are routinely carried out throughout your tenancy. It's our way of checking everything is okay with you and the property. We can help you report issues if you haven't already.
Fair wear and tear: This refers to the normal wear and tear a property would experience over time. You're not responsible for this, but excessive damage might lead to deductions from your deposit.
Section 21 and Section 8: Landlord's ways of asking you to leave so they can get their property back. Section 21 is without a reason, Section 8 is because you broke the rules.
Section 13: This is the rental increase notice. Don't worry, the landlord is only able to make fair and reasonable increases on an annual basis.
Section 3 and Section 48: Notices to inform you about changes in ownership. Section 3s essentially say "new landlord, same rules" and Section 48s essentially say "new manager, same rules".
EICR (Electrical Installation Condition Report): An EICR is a report that assesses the condition of an electrical installation.
GSC (Gas Safety Certificate): A GSC is a certificate that shows that a gas installation has been checked and is safe to use.
EPC (Energy Performance Certificate): An EPC is a document that shows how energy efficient a property is.
Homeowner guarantor: Sometimes, landlords might ask for a guarantor, or require one in place to meet their insurance requirements. This is usually a parent or close friend who agrees to cover your rent if you can't.
Notice period: This is the amount of time you or your landlord needs to give to end the tenancy. It varies depending on the type of tenancy but is typically 30 days notice when you tell us you're leaving the property.

So, there you have it! Some of the most common terms to get you up to speed with rental terminology. Remember, it's always a good idea to read your tenancy agreement carefully and ask your letting agent about anything that you're unsure about!

If you have any questions about how to rent, hop on our Live Chat to speak with a member of our team 💬

Posted By

Sophie Ombler