Property Occupants Jargon Buster
22-11-2018 | Property OccupantsProperty occupant issues come in many different shapes and sizes. You’ll be lucky to get through your tenancies without coming across at least one or two, so make sure you know your stuff when you’re handling and solving them. Our property occupant jargon buster is here to help!
Occupants |
A person, or the people, who reside in a property. |
Subletting |
The act of renting the property that you rent from a landlord, to a subtenant. |
Subtenant |
A person who rents a property from a tenant, as opposed to the landlord. |
Squatting |
The act of unlawfully occupying an uninhabited building or settle on a piece of land. |
Airbnb |
An online marketplace that lets people rent out their properties or spare rooms to guests for short periods of time, such as for trips and holidays. |
Joint Tenancy |
A tenancy where two or more parties are each jointly and individually responsible for paying the rent. If one tenant moves out without giving notice or doesn’t pay their share of the rent, the other joint tenants are responsible for paying it for them. |
Separation |
A legal separation is a court order that sets out the rights and duties of a couple while they are still married, but living apart. |
Divorce |
The legal termination of a marriage, usually by a court, following a break-up. |
Deed |
A legal document that is signed and delivered, often one regarding the ownership of property or legal rights. |
DSS Tenants |
DDS stands for Department of Social Services. DDS tenants are those who claim housing benefits due to financial difficulties through unemployment, disabilities and/or being a single parent. |
Social Housing |
Housing provided by the government or non-profit organisations for people on low incomes or with particular needs. |
Housing Benefits |
Government money that helps people to pay their rent if they are on a low income or unemployed, usually as a result of being unable to work full-time due to their personal circumstances or health. How much they get depends on their income and circumstances. |
Short Term Lease |
Generally refers to a lease with a duration of less than six months. Often, these leases are based on a month-to-month rental agreement. |
We hope you now feel more familiar with property occupants jargon. Why not check out our screening process jargon buster? Our advice centre offers a range of resources for landlords to help you run your rental properties with complete ease. At CIA Landlords, we also offer landlord insurance. This can protect you in the event of theft, loss of rent, fire and more. Get a quote with us today to learn more.
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