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Jargon buster
This page is sorted in alphabetical -order.
A B
C D E F
G H I J
K L M N
O P Q R
S T U V
W X Y Z
Accelerated Procedure
Possession proceedings in the County Court following the
expiry of a section 21 notice and the tenants failure to vacate
the property in accordance with that notice. NB rent arrears cannot
be claimed in accelerated possession procedure
Additional Cover (Tenants Insurance)
We cover your clothing, watches, jewellery, spectacles, other
valuables (excluding mobile telephones) and pedal cycles (up
to £250 in value) against loss or accidental damage whilst
in your home or whilst temporarily elsewhere in the world. Cover
is only available when taken together with Tenants Standard
Cover.
Asylum Seekers Lets
letcare will cover your property if it is let to Asylum Seekers.
Bailiff
The court officer authorised to amongst other task,
give effect to a warrant of possession or execution
Bank Interest
Where the mortgage lender has asked for their name to be noted
on the policy.
Brown Electrical Goods
Any electrical item except washing machines, dish washers, fridges,
freezers, spin dryers, tumble dryers, microwave ovens.
Buildings Cover
Buildings insurance covers the repair or rebuilding of your
property following loss or damage covered by the policy
CCheck in
/ out report
The schedules detailing the condition of the property
both before the tenancy commences and immediately upon the tenant
vacating the property
Claims History
We use your claims history as one factor when assessing the
risk of insuring you. We need to find out about your claims
history, and to check whether you are eligible for insurance
cover under this policy.
Company Lets
letcare will cover your property if it is let to a Company
Company Let
A tenancy where the tenant is a limited company and therefore
it cannot be an assured shorthold agreement
Contractual Tenancy
A tenancy agreement
Counsel
Another name for a barrister
Claims & Losses
A loss is where an event has occurred that has resulted in damage
to or loss of use of something. A claim is an application to
an insurance company to compensate you for that loss. You may
not be insured for all losses or you may have chosen not to
make a claim for a loss, even though it was insured.
Contents (Landlords)
contents for furnished properties – covers all of your
contents on a new for old basis for loss or damage covered by
the policy.
Data
Protection
The protection of personal data from unlawful acquisition,
storage, and disclosure, and the provision of the necessary
safeguards to avoid the destruction of the legitimate data held.
Deposit
The sum of money paid by the tenant at the commencement
of the tenancy to secure the execution by him of his obligations
under the tenancy agreement
Dilapidations
Damage caused to the property either as a result of the
landlord’s or the tenant’s failure to repair and
/ or maintain the property in accordance with their respective
obligations
Direct Debit
Payment method where the premium is collected directly from
your bank account on or around a specific date.
Directions
A series of orders made by the court, which are to be complied
with by the parties to those proceedings to give effect to preparation
of a case to final hearing. Usually given at the first hearing
of a possession action on the basis of non payment of rent,
when the tenant defends the case on the basis that he is entitled
to compensation for disrepair to the property
Eviction
The process of a County Court bailiff enforcing a possession
order by recovering possession of the property for the landlord,
by removing if necessary any occupiers of the property
Excess
The amount deducted from any claim you make.
Gas Safety Check
The Gas Safety (installation
and Use Regulations) 1998 place a duty of care on Landlords
to ensure that all gas fittings; appliances and flues supplied
with accommodation are maintained in a safe condition.
The regulations require that a CORGI registered gas installer
must carry out an annual safety check and that a record of the
check must be available to the tenants (by issue of a safety
certificate).
An annual service alone will not be adequate for compliance
with the regulations.
Failure to comply with the regulations could result in fines
up to £5,000 BUT where death or injury occur as a result
of non compliance an unlimited fine and custodial sentences
can be imposed.
Guarantee
A written agreement between
the landlord and a third party, completed before the tenancy
started, confirming that the third party agrees to be responsible
for any default of the tenant arising from the tenancy.
Guarantor
The third party that enters
into a guarantee with the landlord.
Guaranteed Rent
The best tenants can, unfortunately,
run into financial difficulties, for example, if they are made
redundant or become to ill to work or a relationship breaks
down so, for a modest additional cost, you can have Rental Guarantee
Insurance to pay the rent if an approved tenant doesn’t
.
High
Risk Area (Tenants)
If you live in a postcode area highlighted in red you must
have the following MINIMUM standards of security:
Secure locks for doors – the door by which you enter and
leave your home should be fitted with a deadlock, all other
external doors should also have either deadlocks or, if it’s
more convenient, be fitted top and bottom with key-operated
security bolts.
Secure locks for windows – All accessible windows and
fanlights that can open must be secured with window locks that
have detachable keys (by accessible we mean those windows, fanlights
and skylights where entry can be attempted from the outside
by a person of normal physical ability without the need to bring
anything to the site or to us any ladder, step ladder or scaffolding
found on the site in order to do so)
Where the minimum standard of security is not met, theft and
malicious damage covers are not included.
Housing Benefit Lets
letcare will cover your property if it is let to tenants
in receipt of housing or other benefits.
Holiday Lets
letcare will cover your property if it is let on short term
holiday lets
Housing Association Lets
letcare will cover your property if it is let to a Housing Association
Home Care Service Plan
Emergency call out charges up to £250 including parts
and 1 hour labour for each emergency arising from: Plumbing
leaks, Burst Pipes, Blocked Drains, Security of Doors &
Windows, Failure of the Electricity supply, Loss of the only
available key.
Home Care Service Plan PLUS
Emergency call out charges up to £250 including parts
and 1 hour labour for each emergency arising from: Plumbing
leaks, Burst Pipes, Blocked Drains, Security of Doors &
Windows, Failure of the Electricity supply, Loss of the only
available key plus Issue of a gas safety certificate & Breakdown
cover for your gas central heating system and hot water supply
Inception Date
Is the date you have chosen for your insurance cover
to start.
Insurance
A full policy
Index Linking
Your Buildings sum insured will be adjusted at renewal by the
latest percentage change – this reflects the cost of inflation
and therefore the cost of replacement values.
Insurance Premium Tax (I.P.T)
A Government tax charged by % on all insurance policies - %
rate is subject to change.
Joint Insured - Tenants
Only one insured name per policy is allowed - the insurance
will cover all members of the insured’s family permanently
living with them. Tenants sharing a property must each take
out their own insurance.
Legal
Expenses Cover (Landlords)
Protects the landlords in disputes with tenants.
Local Authority Lets
letcare will cover your property if it is let to a Local Authority
Letting Agents Lets
letcare will cover your property if it is let your letting agent
Lenders Interest
Where the mortgage lender has asked for their name to be noted
on the policy.
Minimum sums
insured - Landlords
Buildings £50,000
Contents £1,000
Contents only £10,000
Maximum sums insured - Landlords
Buildings £1,000,000 (over this amount is available by
arrangement)
Full Contents £30,000 (restrictions apply over this amount)
Limited Contents £5,000
Mesne Profits
A charge for the tenant use and occupation of the property after
the tenancy has been brought to an end by a Court Order. Mesne
profits are calculated on a daily rate, which would equate to
the rent payable under the tenancy agreement immediately before
it was brought to an end by the court
Minimum sums insured – Tenants
Standard cover £5,000
Additional cover (unspecified) £1,000
Maximum sums insured - Tenants
Standard cover £30,000
Additional cover (unspecified) £4,000
Non-Assured
Shorthold Tenancy
A tenancy of a residential dwelling and the tenant is an
individual and the property is occupied by the tenant as their
only or principal home. The tenancy commenced after the 28th
February 1997 or it if commenced before this date, the landlord
served on the tenant, a notice in the prescribe format pursuant
to section 20 Housing Act 1988 advising the tenant that the
tenancy was to be an Assured Shorthold tenancy
New for Old
If you contents are completely destroyed we will replace them
with new items no matter how old the original items were. You
must insure your contents for what it would cost to replace
them at today’s prices otherwise, if you make a claim,
you might not get paid in full.
Password
The password is used to protect your data by helping
to prevent other people from accessing your information. If
you wish to retrieve your quotation or access your policy records
at a later date, you will be asked to confirm your identity
by entering this password. We suggest that you use something
that you can easily remember. Don't worry if you have forgotten
your password. Simply use the ‘lost password’ option
in our help menu.
Pedal Cycles
Cycles up to £250 are included in our standard cover whilst
in the home and covered away from home under additional cover.
Particulars of Claim
Details of the landlord’s court claim against the tenant
or vice versa
Periodic Tenancy
A tenancy that does not have a fixed term but contractually
continues on a month-to-month or week-to-week basis
Possession Order
A court order requiring the tenant to vacate the property on
a given date.
Property
The premises owned by the landlord and let to the tenant
References
Successful tenant selection is not about choosing the kind of
tenant you would prefer – it’s about selecting the
tenant who is most likely to respect your property, pay your
rent on time & behave well towards their neighbours. It
is also about being prepared to turn down tenants & leave
your property vacant for a brief period if you are unable to
get the right tenant.
Professional tenant referencing agencies have a great deal of
experience and have ways of checking what is & what isn’t
right. Quite often, just the prospect of having information
professionally verified is sufficient to deter an undesirable
tenant from applying to rent a property.
letcare offer landlords a comprehensive, 48 hour, referencing
service for prospective tenants. If you would like to use our
service please download one of our referencing application forms
(see documents)
Section 48 Notice
Notice pursuant to section 47 and 48 landlord and tenant act
1987. This notice gives the tenant an address to which notices
to the landlord must be sent. This notice must be served before
rent arrears can be recovered from tenant.
Student Lets
letcare will cover your property if it is let to students
Single Item Limit (Tenants)
The single item limit is the value of the most expensive item
you may take outside the home. Please select the nearest value
from the list up to a maximum of £1,000. Items over this
amount can be specified separately.
Standard Cover (Tenants)
Cover on a new for old basis for all your household furniture,
equipment, furnishings, clothing and personal possessions whilst
in your home. Valuables are covered up to 33% of your selected
sum insured.
Section 8 Notice
Notice seeking possession on the basis of one or more grounds
for possession. The notice is served pursuant to section 8 Housing
Act 1988. The grounds for possession are set out in schedule
II to that act
Section 21 Notice
Notice requiring possession served to expire at or after the
end of a fixed term tenancy or to give effect to break a clause
in a tenancy agreement. The notice is a minimum of two months
notice and is a pre-requisite if the landlord wishes to seek
possession of this property and he does not have any grounds
for possession as detailed above
Stakeholder
The third party holding the deposit on the basis that the deposit
may neither be released to the tenant nor to the landlord without
the consent of both parties, court order or some other resolution
of the dispute.
Statutory Periodic Tenancy
A tenancy agreement after the fixed term has come to an end.
Upon the expiry of the fixed term, the tenancy agreement continues
on the same contractual terms as before but it becomes a periodic
tenancy, the period is determined with reference to the frequency
that rent is due e.g. monthly or weekly periodically
Summons
County Court document requiring the defendant (tenant) to attend
court
Suspended Possession Order
A court order requiring the tenant to vacate the property on
a given date, enforcement of which is suspended upon the tenant
paying the rent as and when it falls due together with a specified
sum each month of the arrears
Tenant
Is the occupier of the landlord’s property pursuant to
a tenancy agreement.
Tenant references
Successful tenant selection is not about choosing the kind of
tenant you would prefer – it’s about selecting the
tenant who is most likely to respect your property, pay your
rent on time & behave well towards their neighbours. It
is also about being prepared to turn down tenants & leave
your property vacant for a brief period if you are unable to
get the right tenant.
Professional tenant referencing agencies have a great deal of
experience and have ways of checking what is & what isn’t
right. Quite often, just the prospect of having information
professionally verified is sufficient to deter an undesirable
tenant from applying to rent a property.
letcare offer landlords a comprehensive, 48 hour, referencing
service for prospective tenants. If you would like to use our
service please download one of our referencing application forms
(see documents)
Tenancy Agreement
A tenancy agreement is a legally binding agreement between a
landlord & tenant. It is normally in writing, is designed
to protect the interests of both the landlord and the tenant
and should clearly set out the responsibilities of both parties.
These will vary from agreement to agreement, depending on the
property and the demands of the landlord and the tenant.
Undefended
List
The first hearing of a claim for possession. The matter is listed
for five minutes and will proceed at that hearing unless the
judge considers that there is a defence put forward by the defendant.
In the event that the matter cannot proceed the judge will give
directions for the future conduct of the claim and the matter
will be adjourned to a later date.
Unoccupied (Landlords)
Properties can remain unoccupied between tenancies with no restrictions
in cover for up to 30 days. After 30 days there is normally
no cover for damage caused by Riot, Civil Commotion or disputes,
Theft or attempted theft., Malicious Acts, Escape of water/Oil
or accidental damage. Your policy document will give you precise
details.You should notify us when the property becomes unoccupied
for longer than 30 days then please inform us.
Your home will be classed as unoccupied if you or another person who has your permission has not been living in the property there for more than 30 days
Unoccupied (Tenants)
When your home is unoccupied for there is no cover for loss
or damage your contents caused by Theft or Attempted Theft,
Malicious Acts, Escape of Water, Failure of your Freezer or
Accidental Damage. Neither is there any cover for your liability
under the tenancy agreement for damage to your landlords property.
Your home will be classed as unoccupied if you or another person
who has your permission has not been living in the property
there for more than 30 days or it is insufficiently furnished
for normal habitation
Value
A term used when settling claims on a ‘cash’ basis.
Value means the amount of money you would have received by selling
the article or property immediately prior to the loss or damage
occurring.
Valuables
Items composed of precious metals or stones, jewellery, works
of art and curios and watches.
Warrant
of Execution
The court document prepared by the bailiff’s clerk upon
the landlord filing a request. The warrant is prepared and then
padded to the court bailiff. The warrant is the direction to
the bailiff to attend at the property of the named debtor to
attempt to remove goods to a value sufficient to satisfy a count
court judgment in favour of the landlord.
Warrant of Possession
The court document prepared by the bailiff’s clerk upon
the landlord filing a request. The warrant is prepared and them
passed to the court bailiff. Upon receipt he fixes a time and
date for the eviction and send notice to the landlord and tenant.
White Goods
Washing machines, dryers, dishwashers, fridges, freezers, cookers
and microwaves.
