Jargon buster

Also referred to as a “schedule of condition”, an inventory is a complete and detailed report listing the contents and condition of a rental property.

Landlord Reference
A written document from a tenant’s previous landlord to support their application and demonstrate their ability to care for the property and maintain rental payments. We request that landlord details are given to us so we can contact their previous landlord direct.

Personal Reference
This reference is only required for tenants who have not had a landlord within the last 5 years. A personal referee should be someone of professional standing who is able to confirm the tenant’s ability to act responsibly and keep the rental property in good order. A personal referee should not be a member of the tenant’s family and would for example include one of the following: community leader, previous employer, academic supervisor, professional friend/neighbour who knows the tenant well, etc.

Financial Reference
A document that should give an indication of the tenant’s financial standing and therefore their ability to pay the rent. This could be given in one of the following ways:

  • sight of salary/wage slips covering the last two months
  • a  written reference from your current employer with salary details included
  • credible proof of savings or other independent financial means
  • sight of the tenant’s most recent bank statement showing salary payments or regular income into the account
  • name and contact details of a suitable guarantor (this is required in the case of students and may be accepted in other situations)

Lease Assignation
This is where a tenant transfers their interest in a Lease to another person (called an assignee), who thereafter takes their place as tenant under the original contract.

Let Agreed
This means that a potential tenant has submitted their application and has agreed to the rental payments and deposit amount. The process may not be complete and so will show as ‘let agreed’ until the tenancy is confirmed.

Long Term Let
This usually refers to a tenancy lasting from 6 months onwards.

Short Term Let
A tenancy usually lasting from 1 day onwards.1LET do not currently offer any short term lettings.

Short Assured Tenancy
Introduced by the Housing (Scotland) Act 1988, this type of tenancy offers some protection to landlords when letting their property. This is the most common type of tenancy in Scotland - the equivalent for England and Wales is known as an Assured Shorthold Tenancy.

Letting Protection Service Scotland
A Government approved tenancy deposit protection scheme.

Non-Resident Landlord (NRL)
A landlord who owns a property in the UK and receives rental income whilst living outside of the UK is known as a Non-Resident Landlord (NRL).

Owner Occupier
A person who lives in and owns the same home.

Portable Appliance Test (PAT)
The name of a process where electrical appliances are routinely checked for safety.

Safety Compliance
This refers to the work required to ensure the property meets the health and safety regulations relating to rental properties.

Schedule of Condition
Also known as an inventory, this is a complete and detailed report listing the contents and condition of a rental property.

Tenancy Agreement
A written contract between the tenant(s) moving into a property and the landlord(s) who owns the property. If a letting agent manages the property, then 1LET will sign the Tenancy Agreement on behalf of the landlord(s).

Tenancy Deposit Scheme
A tenancy deposit scheme is a Government approved scheme provided by a third party organisation to protect tenancy deposits until they are due to be repaid. Three schemes are in operation across Scotland:

  • Letting Protection Service Scotland (LPS)
  • Safedeposits Scotland
  • My|deposits Scotland

The Association of Professional Inventory Providers (APIP)
The Association of Professional Inventory Providers (APIP) offers a recognised standard of inventory provision. Ken Bell, a Director of 1LET and one our property managers is an APIP accredited member.

The Property Ombudsman Scheme (TPOS)
The Property Ombudsman (Lettings) provides a free service for dealing with unresolved disputes between TPO registered agents, landlords and tenants. 1LET are registered members of TPOS.

Void Period
When a property is unoccupied for an amount of time.

Agency Agreement
A written contract between the owner(s) of a property and the letting agent.

Electrical Installation Condition Report (EICR)
A report into the condition of the electrical installation within a property that highlights any safety shortcomings and defects or deviations from the required electrical regulations.

Electrical Installation
A fixed wiring system made up of equipment, for example a fuse box; lighting and power circuits and switches and sockets. An electrical installation does not include electrical appliances such as cookers, heaters and washing machines.

Energy Performance Certificate (EPC)
A document stating the energy efficiency of a building with suggested ways in which this could be improved.

Gas Safety Certificate (Landlord’s Gas Safety Certificate)
A certificate to prove gas appliances, fittings and flues provided are safe for tenants

House in Multiple Occupancy (HMO)
Your home is a House in Multiple Occupation (HMO) if:

  • at least 3 tenants live there, forming more than 1 household
  • you share toilet, bathroom or kitchen facilities with other tenants
  • a household consists of either a single person or members of the same family who live together. It includes people who are married or living together and people in same-sex relationships.

Are you a first time tenant?

There are lots of things to consider when renting a property for the first time. Here at 1LET we want to make sure the whole experienced is pain free as possible.

Read our useful guides

Or, if you have a question please contact us on 0131 476 5500

Tenant Support

Frequently asked questions - all the basics of what tenants need to know before they move in.

  • Who should I contact in an emergency?
  • How do I pay the rent?
  • Council tax?

View our FAQ for Tenants