Housing Terminology

We've compiled a list of housing terminology to help you understand all of the terms you may come across when looking at accommodation.

Tenant – A person who pays rent for the room, flat or building they use.

Tenancy – Possession of property by the tenant. Tenants will fill in a tenancy agreement with a landlord for the right to stay on a property, and pay weekly, bi-weekly or monthly for said right.

Landlord – Owner of a property. They rent out a property for tenants.

Deposit – A first sum instalment for a property that gets paid before moving into a property. Typically includes the first month of rent, though it varies depending on the landlord or estate agency. Deposits are paid back once the tenancy is over, however any damage done to property will be reduced from the deposit.

HMO (House of Multiple Occupancy) / Co-Living – A property which lets to 3 or more tenants who share rooms such as a kitchen, bathroom and toilet.

Leasehold – A legal agreement with a landlord that allows you to own a property for several years.

Guarantor – A person who legally takes responsibility to pay rent in the event the tenant cannot pay.

Fixed Term – A set of time a landlord agrees to rent out a property. You cannot leave a fixed term contract before the contract ends. You can request an extension to your landlord to stay longer in a property.

Letting Agent – A company that manages properties from private landlords. Some letting agents require rent to go through them and not directly to the landlord.

All Inclusive – In addition to rent, you will need to pay for amenities such as electricity, water, gas etc. All inclusive properties include these payments with rent and are managed by the landlord. Any issues with them must be reported to the landlord.

PBSA (Purpose-built Student Accommodation) – Properties designed for students. Includes, halls and private flats.
 

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