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Glossary
Guarantor
A person, usually a relative or friend who will guarantee to pay your rent if fail to do so.
Joint and Several
An AST (assured shorthold tenancy) when sharing with others, means that each individual is equally responsible for the payment of rent and the property throughout your tenancy.
Deposit
An amount of money taken as security against damages and/or rent arrears at the end of the tenancy. This money will be held in a Government approved deposit scheme.
Inventory/schedule of condition
A document that shows the condition of the property, items and furnishings before you move in.
HMO
House in Multiple Occupancy, or a house that is occupied by three or more tenants that are unrelated.
Fixed Term Tenancy
The period of a tenancy fixed from the start date to end date as shown on your tenancy agreement.
Periodic Tenancy
Also known as ‘month by month’ is when the fixed term period has come to an end and no new fixed term tenancy agreement has replaced it, the tenancy therefore lapses to a periodic.
Arrears
The late payment of rent.
Rent Due Date
The on which your rent is due, usually the date your tenancy starts.
Change of Sharer
Typically in a house of multiple occupants. If one person leaves and another person takes their place.
Break Clause
An option to terminate clause in a fixed term tenancy, which may be exercised after a certain period by either the landlord or tenant or both.
PCM
Per calendar month.
Utilities
Services supplied to a property such as gas, electricity and water.
EPC
Energy Performance Certificate .
Dilapidations
A technical term meaning disrepair or damage over and above general fair wear and tear.