Jargon Buster

Please use the index below to find an explanation of terms often used in residential letting process

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

Administration Charge

When a tenancy is signed the tenant(s) will be need to pay our Administration charge, This will be a minimum of £117.50 (inc VAT) or equivilent to one  week’s rent plus VAT. If the tenant re-signs for a further fixed term we now make a charge of 50% of the original charge

Assured Shorthold Agreement

This is the normal type of tenancy we use. The minimum term we initially sign for is six months, after that, the tenancy can, by arrangement, either be month to month or re-sign for a further fixed term. The tenant must be an individuals or a group of individuals and the rent must be less than £25,000 per annum

B

Bond (See Deposit)

C

Cleared Funds

Monies paid that do not require to be cleared by a bank, such as a banker’s draft, Bank Automated Credit (BACs) or cash payment.
Initial monies must be paid by one of these methods.

After which rents should be paid by standing order which will be debited from you account three days prior to the rental due date to allow for clearing into our Client Account

Credit Reference Agency

A company used by letting agents to check information supplied by applicants prior to the landlord accepting an application.

The information is confidential and cannot be passed back to an Applicant

We use the services of MARAS and LETSURE for this purpose.

There is a charge to applicants when applying for a property to let to cover the Agency’s charges and administration.

D

Deposit for Unfair Wear and Tear

This is an amount of money, usually at least one month’s rent equivalent paid by a tenant when signing a tenancy agreement for security against unfair wear and tear, damage caused by the tenant, occupier or guest during the course of the tenancy It will be normally be held by the Agent as Stakeholder

E

Electrical Safety

It is a requirement that the landlord provides the property in a safe
condition.

To this end an electrical test should be performed by a qualified
electrician every five years

Eviction

A word that no one wants to hear.

However, if necessary a landlord can apply to a court for Eviction or
Possession Order. This will not only result in extra costs, but a
County Court judgement or CCJ recorded against the Tenant

F

Fixtures and Fittings

Referred to any fixtures, such as fitted wardrobes, doors.
Fittings would include door handles, blinds, carpets, light fittings,
wall coverings etc.

G

Gardens

If the property has a garden, the tenant is normally responsible
for keeping tidy and in reasonable condition.

Grass should be frequently cut during summer months and paths
weeded

Gas Safety Certificates

A gas safety certificate must be given to the tenant prior to
occupying the property.

This Certificate lasts for 12 months and the landlord is
legally obligated to ensure that a gas safety
check is carried out every twelve months.

Failure to do so is a criminal offence.
Should fatality occur the Landlord could face
a prison sentence and a fine of £20,000.

The safety check can only be performed by a qualified
CORGI registered engineer

H

Help Desk

We operate a help desk for tenants to report defects to the property when our office is closed. this is done through our Maintenance Request form.

This will send an email direct to a mobile so that information is available immediately. There is a priority rating, so emergencies are dealt with as soon as possible, while less urgent matters can be sorted in a reasonable time frame

Holding Deposit

This should not be confused with a damage deposit or bond. Agents can charge applicants an amount to take the property off the market while applying for references. This amount would be forefeited if the applicant fails the reference process or withdraws their application (after the agent has applied for references).

In the case where the landlord decides not to accept the application (before referencing) or withdraws the property from the market, the applicant would be able to have the return of the amount paid (less a small amount for any administration).

The applicant, would need to have clear information on the use of terms of a holding deposit before any amount can be witheld.

HMO

House in Multiple Occupation

A property that is either occupied by three or more individuals, who do not form a single household or a property that has been
converted into flats or bedsits

There are very complex regulations on this type of property and are detailed under the heading on our main site

I

Initial Payment

Once the application is successful the prospective tenant will be asked to make an appointment to complete the documents and pay the Initial Payment which will include

The first month’s rent
The Damage/Unfair Wear and Tear Deposit
The Administration Charge

When making the appointment to sign the documents, please ensure you allow at least 30 minutes in order that you have enough time to read and understand the Tenancy Agreement.

The paymant must be in CLEARED FUNDS

Inventory

A document which contains the schedule of condition of the property and detailing any fixtures and fittings remaining in the property for use by the tenant during the tenancy.

This will also for the basis for the check at the end of the tenancy for unfair wear and tear

Therefore it is a very important document as it gives both parties information of how the property was at the beginning of the tenancy

J

Joint and Several Liability

Where the landlord and/or tenant comprises of more than one person, they will each be responsible for complying with their responsibilities
both together and individually.

E.G. If there are two tenants, then both will be responsible for the payment of the whole rent, not just their proportion. So if one tenant does not pay,
or vacates the property, the other is responsible for the whole rent and tenancy obligations

Also, if there is damage to the property, all are equally to blame, and any amount withheld from the Damage Deposit, will be split equally between the parties

L

Landlord

The Landlord is the legal owner of the property being rented and may be made up of individuals or a company.

The Landlord is responsible for keeping the fabric of the property in good order

M

Maintenance

The Landlord is responsible to maintain the property. However a tenant is responsible to inform the landlord of wants of repair. If a tenant does not report, say a leak in the roof, and  there is excessive damage as a result of the landlord not being informed. The tenant could be liable for “Permissive Waste” and an amount deducted from the damage deposit.

A tenant can report a maintenance request by telephoning our office on 01792 456871 during normal office hours.

By emailing

By completeing our on-line maintenance Request form

O

Occupier’s Liability

The Occupier is responsible for the safety of others who visit the property. When a tenant is in occupation, they will assume the responsibility to
ensure the safety of others

P

Permissive Waste

Permissive Waste is where a tenant allows something to get worse withour reporting it to the landlord. This is an allowable deduction from a deposit bond. Therefore tenants should always report defects in the property as they happen, If this is not reported, and the problem gets worse, the tenant could be liable for the excess damage.

Pets

Tenancies will normally contain clauses regarding having animals. Pets or animals that can cause damage to property will not normally be allowed. Dogs and cats in particular
The tenancy may also contain a clause regarding cleansing of parasites (fleas) at the end of the tenancy

R

References

References are in two forms:

1. References taken by the landlord for an applicant who wishes to rent his or her property, These are usually made by a Credit Reference Agency

2. References for another agent/mortgage – We charge a tenant for providing a reference to another agent or for mortgage puposes

Rent

Rent is defined as – The consideration paid for the right to use and possess a property.

In simple terms an amount of money paid by a tenant to the landlord to use and occupy the property for a given period.

The tenancy will specify the amount to be paid and when. If it is not paid, this would give rise to the landlord seeking possession for arrears as it is a breech of tenancy.

S

Section 21

This is the Notice to a Tenant that the Landlord intends to regain possession of a property let on an Assured Shorthold Tenancy.

This Notice must be in a prescribed form and the Notice length must be at least two months. Proceedings cannot commence until the end of a fixed term if using this Notice for possession.

After the fixed term has ended , this Notice cannot be served at any time, but must expire after at least two months have elapsed and ending on the last day of a rental period.

Swansea

Swansea is the Second capital of Wales, set approx 40 miles west of Cardiff. It has on it’s west the Gower Peninsular, which is an area of outstanding natural beauty.Swansea offers fine dining in its many restaurants. The Wind Street area of the City host a bounty of up beat cafe bars and clubs.Our ofice is on one of Swansea’s main route into the city and has many estate agents and letting agents along the way. Swansea is host to the Liberty Stadium where the Swansea Neath Ospreys play first class Heineken Rugby as well as the English and Welsh League. The Liberty Stadium Swansea is also the home of Swansea City Football Club, or SCFC who are enjoying Championship football. Why go to Cardiff when you have all the facilities on your doorstep in Swansea. Swansea University, caters for many foreign and british students studying a diverse set of subjects. Therefore, Uplands and Brynmill are the most popular areas for student accommodation in Swansea. Why not visit MGLS – Michael G. Lewis and & Son to sort out or student accommodation or private letting. Our Clients are private landlords wishing to let either their own home while working abroard, or private investor landlords with various properties to let in Swansea area.

T

Tenant

Means a person or persons named in the Tenancy Agreement who is/are responsible for the payment of rent and other
obligations contained in the Tenancy Agreement

Tenancy Agreement

A Legal document that sets out the terms and conditions that a Landlord and Tenant have to abide by during the terms of that agreement. Such as paying Rent, Repairing obligations

Term of Tenancy

This is the entire period that the Tenant remains in occupation of the
property or is obligated to remain in the property under the tenancy.
It will also refer to any extension or periodic tenancy created

U

Unfair Wear & Tear

Means wilful damage, neglect of the property, fixtures, fittings,
cleaning, decoration etc over and above that would have been
expected by normal use.

E.G. Allowing a child to draw on walls would be considered
unfair wear and tear
So would allowing the grass grow uncontrollably

V

Vacating

After giving the required Notice to the landlord, if a periodic tenancy, or on vacating the property at the end of the fixed term  the tenant should:

Read all meters and inform the utility companies

Defrost the fridge and Freeezer and leave doors open (appliance turned off)

Make sure that all electrical appliances are turned off and plugs removed from sockets.

In winter, turn of the water stop cock

Leave items of furniture in the rooms at the start of the tenancy

Leave the property in a clean and tidy state, gutting grass as required, cleaning windows, cooking appliances etc.

Remove all unwanted items and items of rubbish and dispose of properly

Return the keys to us, DO NOT leave them with anyone else or leave in the property.

You can arrange to be present for the check out, or this will be done at our earliest convenience without your presence

Should there be any wants of repairs, damages etc or discrepancies on the inventory, you will be advised and for you to comment. Please note that you will not be allowed back into the property to remedy andthing, This would need to be done BEFORE keys are surrendered.