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Glossary

Garden Flat


Literally a flat with a garden

Garnishee


A summons issued by a plaintiff, against a third party, for seizure of money or other assets in their keeping, but belonging to the defendant

Gas Safety


You or your agent cannot contract out of your obligations under the Regulations and you should be aware that a breach of the Regulations is a criminal offence enforced by Health & Safety Executive and may result in a custodial sentence being issued

Gearing


The use of borrowing potentially to increase the amount you get back, but will also increase the risk

General Conditions Of Sale


General Conditions covering all properties for sale

General Product Safety


The General Product Safety Regulations provide that anything supplied to a consumer in the course of commercial activities must be safe

Georgian


Property built between approximately 1714-1800

Good Repair


rented properties are required to be maintained in good repair and fit for human habitation See HSSRS standards additional rules apply to HMO

Governance


How organisations are run and managed

Granny Flat


Smaller self-contained flat at the back or on an upper floor of the main property Usually with it's own front door

Granting A Tenancy


A Tenancy is granted upon the giving of the keys not the signing of the agreement. Such agreement should always contain a subject to availability clause like ours

Greenfield Site


An area not previously used for built development

Gross Income


Your total income before tax and expenditures

Gross Yield


(Annual rental income × 100), divided by purchase price

Ground Rent


The rent charged by the landlord/council to the leaseholder

Grounds For Possession


Applicable to section 8 standard possession procedure - see Grounds under section 8

Group Litigation Orders


A Group Litigation Order can be made in a claim in which there are multiple parties or claimants. The order will provide for the case management of claims which give rise to common or related issues of fact or law

Guarantee


A legally binding promise given by someone payment if somebody else fails to do so

Guaranteed Rental Income


There is an amount of income that is guaranteed per year Make sure you enquire who is guaranteeing the rental income, for how long and if there a contract in place

Guarantor


The person who provides a guarantee and promises to make payment good should the person responsible for the agreement fail
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Starting a tenancy
Preparing to let The do's and dont's The vetting process Documents required Using a letting agent The good letting guide
Managing a tenancy
Inspections Maintenance Dealing with problems Renewing a tenancy Rent arrears Dealing with councils Rent increases
Ending a tenancy
The checkout and exit How to deal with a problem tenant Compare eviction notices Recovering debt Enforcing court orders Section 21 notice Section 8 notice
Letting legislations
Housing benefits LHA Maintenance and repair Health and safety Provision of services HMO and licensing Tenant litigation
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