Navigating the lettings market can be a minefield, especially for first-time renters, thanks to a wave of property jargon that’s often confusing and rarely explained. Whether you’re renting a flat in the city or a family home in the suburbs, understanding the terminology used by landlords and letting agents is essential to making informed decisions.
Here’s a breakdown of common property jargon used in lettings, and what it really means:
1. AST (Assured Shorthold Tenancy)
This is the most common type of rental agreement in the UK. It usually lasts for six or twelve months and sets out your rights and responsibilities as a tenant, including rent payments and notice periods.
2. Holding Deposit
A non-refundable payment is made to reserve a property before signing the tenancy agreement. By law, this can’t exceed one week’s rent. It’s typically deducted from your first month’s rent if the tenancy goes ahead.
3. Tenancy Deposit (Security Deposit)
This is held as financial protection for the landlord in case of damage or unpaid rent. It must be placed in a government-approved tenancy deposit protection scheme (such as DPS, TDS or MyDeposits).
4. Inventory and Schedule of Condition
A detailed report listing the property’s contents and condition at the start of the tenancy. It’s used to determine if any deductions from your deposit are needed at the end of your tenancy.
5. Guarantor
A person (usually a parent or close relative) who agrees to cover your rent if you’re unable to pay. Guarantors are often required if you’re a student, new to employment, or have a limited credit history.
6. Fully Managed vs Let Only
If a property is fully managed, the letting agent handles everything from rent collection and maintenance to inspections. Let only means the landlord takes over after the initial letting process. Tenants should know who their point of contact will be.
7. Furnished / Unfurnished / Part-Furnished
-
Furnished: Includes major furniture like sofas, beds, wardrobes, and white goods (e.g. fridge/freezer).
-
Unfurnished: Usually just the fixtures and fittings, but may include white goods.
-
Part-Furnished: Somewhere in between – check the listing or ask for an inventory.
8. Break Clause
A clause in the tenancy agreement that allows either the tenant or landlord to end the tenancy early, usually after a minimum term (e.g. six months), with proper notice.
9. Right to Rent Checks
By law, landlords or agents must check that all adult tenants have the legal right to rent in the UK. This typically involves providing ID and immigration documents.
10. EPC (Energy Performance Certificate)
A document showing how energy-efficient a property is, rated from A (most efficient) to G (least efficient). A valid EPC is required before a property can be let.
Understanding these terms helps tenants avoid surprises and protect their rights. We always encourage renters to ask questions if they’re unsure, as transparency benefits everyone.
Whether you’re a seasoned tenant or renting for the first time, having a clear understanding of this jargon can make the process smoother and help you spot issues before they arise.
Looking to rent in the North East? Spartan Property offers clear, friendly advice with no hidden fees. Contact our lettings team at lettings@spartanproperty.co.uk or call 0191 470 1815.