Glossary

Glossary

Use the LandlordZONE® Glossary to search an alphabetical list of words relating to property with explanations.

Throughout the glossary key words will be highlighted and linked to relevant articles.



A

A1 ShopsA2 Financial and Professional ServicesA3 Restaurants and CafesA4 Drinking EstablishmentsA5 Hot Food TakeawaysAbandonmentAbsolute ComplianceAccelerated PossessionAccommodation AgencyAdjudicationAdverse PossessionAgentAlienationAlterationsAlternative Dispute Resolution (ADR)AmortisationAntecedent Valuation Date (AVD)ApportionmentArbitrationAsset ValuationAssignmentAssured TenancyAssured Shorthold TenancyAPRAuctionAuthorised Guarantee Agreement (AGA)

B

B1 BusinessB2 General IndustryB8 (Storage & Distribution)Base Rate, Bank RateBaileeBailiffBankruptBankers DraftBeneficial OccupationBuy-to-Let MortgageBillBiodiversity offsettingBreach of ContractBreak Clause/OptionBreak Even PointBreak NoticeBREEAMBuilding ContractBuilding ControlBuilding InsuranceBuilding SurveyBusiness Rates

C

C1 Hotels and HostelsC2 Residential InstitutionsC3 DwellinghousesCalderbank OfferCapexCapital AppreciationCapital Gains TaxCapital ImprovementCapitalisationCapitalisation RateCaveat EmptorCase LawCashflowCertificate of Fair RentChargeCharge CertificateChange of UseCharges RegisterClawbackCompletionCommonholdCommonhold and Leasehold Reform Act 2002Common LawComparablesCompetent LandlordCompulsory Purchase OrderCondensationConditional Break ClauseContaminated LandContractContracting OutContractors TestConveyancingCounterpartCovenantCPI

D

D1 Non-Residential InstitutionsD2 Assembly and LeisureDamagesDecoration CovenantDeedDeed of AssignmentDefault NoticeDemiseDepositDepreciationDeterminationDictumDilapidationsDiminution ValuationDiscounted Cash FlowDiscount RateDiscretionary TrustDisposal (disposition)DisregardsDisrepairDistressDistrict Valuer (DV)

E

Empty RatesEndorsementEnergy ActEnergy Performance Certificates (EPC)EscrowEstateEstate AgentEstoppelExecutionExit YieldExpert DeterminationExpert Witness

F

Final Schedule of DilapidationsFinancial Services AuthorityFire CertificateFire RegulationsFiscal YearFit Out CostsFixed and Minimum Uplift RentsFixed Rate MortgageFlying FreeholdForfeitureFreeholdFRI LeaseFurniture & FurnishingsFurnished or Unfurnished?

G

Gifted Deposits (GD)Gross IncomeGround 1 Prior NotificationGround LeaseGrounds for Possession

H

Headline RentHeads of TermsHereditamentHMO (Houses In Multiple Occupancy)Hold PeriodHome Information Pack(HIP)Household Contents InsuranceHouse Price IndexHurdle Rate of ReturnHypothetical Lease Terms

I

Improvement GrantIncentiveIndexationIndividual Savings Account (ISA) MortgageInjunctionInstructionInsuranceInterim RentInterim Schedule of DilapidationsInternal Rate of Return (IRR)Internal Repairing Lease (IRL)

J

Jervis v Harris ClauseJoint AgentsJoint Sole ExpertJoint Tenants

K


L

Landlord and Tenant ActsLandlord’s ConsentLeaseLease Expiry/RenewalLeasehold Valuation TribunalLease RegearLease RenewalLease SecurityLease SurrenderLease TermLeaseholdLesseeLessorLetting AgentLicenceLifetime CostLiquidityLoan to Value (LTV)Loan ValuationsLong LeaseholdLoss of Rent

M

Managing AgentMarket RentMarket ValueMaterial BreachMaterial ComplianceMediationMemorandum of ReviewMesne ProfitsMessuageMezzanineMortgage

N

National House Building Council (NHBC) SchemeNegative EquityNegligenceNet Effective RentNet IncomeNet Initial Yield (NIY)Net YieldNil IncreaseNotice to QuitNuisance

O

O’May RulesOccupiers liabilityOnerous Lease ProvisionsOpen Market ValueOverages

P

PACTPart 36 OfferPeaceable Re-entryPICESPremiumPrime InvestmentPrivate TreatyPrivity of ContractPublic LiabilityPurchase Costs

Q

Quantified DemandQuarter DaysQuiet EnjoymentQuinquennial

R

Rack RentedRateable ValueRates ExemptionsRating LiabilityRating MultiplierReinstatementRelief from ForfeitureRentRent Assessment CommitteeRent ReviewsRepair CovenantsResidential Property TribunalRestrictive CovenantRetail Price Index (RPI)Reverse PremiumReversionReversionary Yield

S

Schedule of ConditionSchedule of DilapidationsSection 8 NoticeSection 13 NoticeSection 18 NoticeSection 21 NoticeSection 25 NoticeSection 26 NoticeSection 48 NoticeSection 213 NoticeSecurity DepositSecurity of TenureSemi DetachedService ChargeSolicitorStamp Duty Land TaxStatutory ObligationSub-lettingSui GenerisSuperior LeaseSupersessionSurrender

T

Taxation of Property IncomeTenancies (Residential)Tenancy at WillTenancy Deposit SchemeTenants ImprovementsTenants in CommonTenants Notice to QuitTenants RepresentativeTenureTerracedTortTracker MortgageTransfer of a Going Concern (TOGC)Transition ArrangementsTriple Net IncomeTurnover Rent

U

Under OfferUnfair Terms in ContractsUnfurnishedUniform Business Rate (UBR)Use ClassUser ClauseUtilities

V

Vacant PossessionValuation Office Agency (VOA)Valuation rollValuation TribunalVariable Base RateVendor

W


X


Y

YieldYielding Up

Z

Zoning