Letting terms explained: a glossary for landlords and tenants

The written agreement setting out the terms of a tenancy: who the parties are, the rent and the date it is due, the deposit, how the property may be used, repair responsibilities and how the tenancy can be brought to an end. Read it before signing.

For many years the standard form of residential tenancy in England. The Renters (Reform) Act changes how tenancies work, moving them onto a periodic basis and removing section 21 no-fault possession, so the current position should be checked for the tenancy in question.

A tenancy with no fixed end date that runs from one rent period to the next until either the tenant ends it or the landlord regains possession using one of the legal grounds.

A letting service covering the marketing of the property, viewings, assessment of applicants and the setup of the tenancy. Once the tenancy has started, the landlord takes on the day-to-day management.

A service covering the whole tenancy: rent collection, tenant communication, maintenance coordination, routine inspections, follow-up on missed payments and tenancy administration.

A person who agrees to meet the tenant’s obligations if the tenant does not, for example unpaid rent or damage. Our standard application process requires a suitable UK homeowner guarantor, whose ownership position and financial suitability are assessed.

The legal check confirming that every adult who will live at the property has the right to rent in England. It is completed before the tenancy starts and, where a person’s right is time-limited, follow-up checks are carried out.

A payment made to reserve a property while an application is assessed. It is capped at one week’s rent and is subject to conditions, including the deadline for signing the tenancy. It is not the same as the tenancy deposit.

Money held as security against unpaid rent or damage, capped at five weeks’ rent where the annual rent is below £50,000 and six weeks above that figure. It must be protected in an approved scheme within 30 days of receipt.

The written details a landlord or agent must give the tenant about how their deposit is protected, including which scheme holds it and how a dispute can be raised. It is a legal requirement, not an optional extra.

A government-approved scheme used to safeguard tenancy deposits. A landlord or agent must use one of the schemes and tell the tenant which scheme holds their money.

A record of the property’s condition and contents at the start of a tenancy. It is the reference point when the tenancy ends and the return of the deposit is considered.

A periodic visit to check the condition of the property, identify repairs and confirm the tenancy is being kept as agreed. Reports record room-by-room findings and relevant photographs.

Time when a property is empty between tenancies and no rent is received. Void periods affect the overall annual return, which is why the asking rent, presentation and marketing timing all matter.

The EPC rates a property’s energy efficiency from A to G, is required before a property is marketed, remains valid for 10 years and must generally be at least band E for a letting.

Rent that has fallen due and has not been paid. The agent follows up missed payments, explains the position and discusses the next steps, which may include a payment plan or specialist advice.

Insurance-backed protection for money an agent holds, such as rent or a deposit. Rent North East holds client money protection through Client Money Protect.

An independent scheme that letting agents must join so a complaint can be escalated if it cannot be resolved directly. Rent North East is a member of The Property Redress Scheme.

The notice that historically allowed a landlord to regain possession at the end of a tenancy without giving a reason. The Renters (Reform) Act removes section 21, so possession must be sought using one of the defined grounds.

Need one of these terms explained for your property?

Tell us the property, the term and the decision you are trying to make, and we will explain how it applies in practice.