Glossary

Rack Rent

The best market rent obtainable

Rate Of Return

The change in the value of your investment taking into account both income and growth

Re-allocation

Transferring the case from one allocated track to another. This can happen if the value of the case increases

Receiver

Person appointed by the Court of Protection to act on behalf of a patient

Recognisance

An undertaking before the Court by which a person agrees to comply with a certain condition, e.g. keep the peace/appear in court. A sum of money is normally pledged to ensure compliance

Redemption

Payment made when repaying a mortgage

Regency

Property built between approximately 1800 -1837

Register of judgments, orders and fines

A public register containing details of county court and High Court judgments, fines enforced by magistrates' courts and county court administration orders

Registered Land

Property has already been registered at the Land Registry

Registered Social Landlord

A Registered Social Landlord is a not-for-profit housing association or trust

Relevant Party

Any third party that has paid all or part of the deposit on behalf of the Tenant(s). Such as parent, council, trust or a charity

Remand

To order an accused person to be kept in custody or placed on bail pending further Court appearance

Rent A Room Scheme

A government scheme allows you to earn up to 4,250 a year tax free by taking in a lodger

Rent Assessment Committees

tenants of assured shorthold tenancies can refer their rent for review during the first six months of their original tenancy, or under the notice procedure under s13 of the Housing Act 1988

Rent Book

A landlord is only legally obliged to provide a rent book if the rent is payable on a weekly basis (where failure to provide a rent book is a criminal offence)

Rent Passing

The actual current rent being paid

Rental Value

The rent that a property might reasonably be expected to command in the open market at a given time, subject to the terms of the lease

Rental Yield

This is what a landlord can expect to receive in rent, expressed as a percentage of the purchase price of the property

Rescission

When the sale of a property is cancelled or revoked

Residential Property Tribunal Service

The Residential Property Tribunal Service determine Fair rents and Market rents for Regulated (Rent Act) and Assured tenancies.

Residential Property Tribunal Service

The Residential Property Tribunal Service determine Fair rents and Market rents for Regulated (Rent Act) and Assured tenancies.

Response Pack

A response pack is sent to the defendant in a civil claim with the claim form or with the particulars of claim (if they were served separately). The pack contains all the forms needed to reply to the claim

Restitution

Where a defendant who has been evicted by a bailiff illegally re-enters the property the claimant must issue a warrant of restitution with the court in order to regain possession

Retention

A sum of money held back until agreed work or repairs have been carried out to the property to the satisfaction of the lender

RIBA

The Royal Institute of British Architects (RIBA) exists to advance architecture and promote excellence in the profession.

RICS

Royal Institute of Chartered Surveyors Professional body for surveyors

Right Of Audience

Entitlement to appear before a Court in a legal capacity and conduct proceedings on behalf of a party to the proceedings

Rights Of Entry And Refusal

The landlord is giving the tenant the right to occupy the property as their home, the landlord is not entitled to enter the tenants living area without permission

ROI

Return on Investment

Room Contents Insurance

A specific policy to cover those who rent a room within a property

RPI

Retail Prices Index

RPTS

The Residential Property Tribunal Service determine Fair rents and Market rents for Regulated (Rent Act) and Assured tenancies.

RSL

A Registered Social Landlord is a not-for-profit housing association or trust

Rugg Report

With almost 26 million homes in England being rented from over half a million private landlords, In January 2008 Yvette Cooper commissioned an independent review to look at what problems tenants and landlords face and what works well in the sector