August 12, 2020
Need-To-Know Property Jargon For Landlords
With the pandemic pressing ‘pause’ on so many aspects of our work and lives, we welcome the easing of lockdown measures and seeing industries slowly come back to life. And experts are saying we can now expect to see a rise in demand for property solicitors in Hull as a result of a post-lockdown ‘mini-boom’.
Rightmove’s Director and Housing Market Analyst said: “The unexpected mini-boom continues to drive momentum and the strength of buyer demand has contributed to record prices.”
But if you’re one of the many landlords, or prospective landlords, looking to buy your next property, then you’ll need to wrap your head around the property market and unpick all the industry jargon— and we’re here to help.
Because we know it can be easy to get lost in agent-speak and acronyms and terms of the trade that people use without even realising it. And you need to be sure you’re entering into agreements you fully understand.
Here are three important terms all landlords need to know:
1. AST: It stands for Assured Shorthold Tenancy—this is the most common form of contract between a tenant and landlord.
2. EPC: This means Energy Performance Certificate—all landlords are required by law to provide a valid EPC with a rating of E or higher.
3. GSR: It stands for Gas Safety Record, a certificate that states all gas appliances, pipework and flues are safe in the property—landlords are legally required to provide a gas safety check every 12 months.
But you don’t need to be legal expert, because that’s our job. We take care of the legal side of your properties so that you can focus on the day-to-day running of your business. If you want to know more about property solicitors in Hull, get in touch today.