Deposit

This refers to a lump sum that is like a safety net/security from the tenant at the beginning of the tenancy. This can be used in case of any deductions when the tenancy ends. It is important that this deposit is protected via a Government approved Tenancy Deposit Protection Scheme.

Due Diligence

This refers to a professional process of performing background checks etc.

Duty of Care

This refers to an obligation to provide letting advice and safety to those who are visiting a property.

EICR

EICR is an abbreviation for ‘Electrical Inspection Condition Report’. This should be done every five (5) years and by a registered electrician in a rental property. (This is an example of ‘Duty of Care’)

EPC

EPC is an abbreviation for ‘Energy Performance Certificate’. It is a certificate used to measure a property’s energy efficiency. It is rated on a scale from A-G 

Extension

This refers to a renewal. It’s the term used to continue a tenancy after the initial term has expired.

Furnished (Property)

This refers to when a rental property has everything a tenant needs to live in it. This can include sofas, TV, wardrobes, mattresses etc

Gas Safety Check

This refers to the check that should be carried out annually by a Gas Safe registered engineer. This check record should be given to the tenant at the start of their tenancy term.

Gas Safety Record

This refers to a certificate that states gas appliances and pipework are safe. It is one of the legal requirements for landlords. This must be done annually by a registered Council for Registered Gas Installers (CORGI) engineer.