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Renting jargon explained

A

Additional Person Fee

A charge for every additional person to be included in the tenancy agreement.

ARLA

The Association of Residential Letting Agent, the UK’s foremost professional body for letting agents.

Arrears

Any late or unpaid rent.

Assured Shorthold Tenancy (AST) agreement

The standard tenancy agreement normally used for residential lettings.

B

Buildings Insurance

Insurance against the cost of repair or rebuilding a property from scratch following structural damage, for example by flood, fire or storm.

Buy to Let

An investment where you buy a property – usually with a mortgage – and rent it out.

C

Check out

The process of checking a property after a tenant has vacated. Normally only done when an inventory was carried out at the start of the tenancy. The condition of the property and the contents is checked against the inventory and the report is used as evidence for the settlement of the deposit.

Contents Insurance

Insurance against accidental damage or theft of all moveable contents, including furniture, appliances and soft furnishings.

E

Energy Performance Certificate (EPC)

All properties let for private residential purposes must have an EPC. It is used to report the energy performance of a property.

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