Terms of Reference
This is the legal owner of the property. The “Landlord” shall include the Landlord’s successors in title and assigns. This is a person who would be entitled to possession of the property if the Tenant was not in possession and could be the current Landlord or someone purchasing or inheriting the property.
The “Tenant” is the person(s) named on the Tenancy Agreement who have a legal right to occupy the Property. The tenant pays rent to the Landlord in return for the legal right to occupy the Property
This is the act of occupancy and the duration for which the Tenant has legal right of occupation of the Property
The written contract between the Landlord and the Tenant
A written list of all items, fixtures and fittings included in the Property, including a description and a note of their condition. Octopus Residential also take photos to include in the inventory so we have photographic record of the condition of the property. Tenants will be expected to sign the Inventory at the start of the Tenancy.
The Deposit is a fixed amount of money taken at the start of the tenancy period in order to cover future losses or expenses on the part of the tenants. E.g rent arrears and damages to the Property.
An unpaid sum of rent that is overdue.
An appointment with Octopus Residential ltd to look around a Property
We aim to get two references per tenancy application; this is a way of speaking to people who know the applicant to get information about them and to help our decision on offering them a tenancy.
An individual who is not the Tenant, who will accept legal liability for any unpaid rent owed for the Tenancy.
An instruction from the bank account holder to their bank to pay a set amount to another bank account on the same date each week/month.
This general refers to the gas and electricity supply to the Property.
A tax levied on all households that is used to fund public services and is collected by the Local Authority.