Property Terminologies You Need to Know

Some of the poperty terminologies to get acqauainted with are as below:

Fully Managed Service:

A service provided by an agent to a landlord, where the agent manages the property

Company Let:

A rental arrangement with the tenant being a company.

Deposit:

A monetary sum, typically equivalent to five weeks’ rent, paid to the landlord or their agent, refundable based on the property’s condition.

Landlord:

The individual who grants the use of their property to another party in exchange for rent.

Reference:

The process of evaluating an applicant’s suitability as a tenant.

Tenant

The individual or party legally entitled to temporary possession of a property.

Section 21:

A legal notice to begin the process of ending an assured shorthold tenancy.

Return on Investment :formula used by  investors  to evaluate their investments .