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Rent

To hire an object or accommodation for a non-permanent amount of time on a borrowed basis. These contracts often dictate that the renter cannot permanently change the property in any way, and any significant renovations can only be completed with the landlord’s approval.

Ring-Fencing

Ringfencing or ring-fencing refers to when a portion of a company’s profits or assets are financially separated but do not take on the form of a separate entity. There are many reasons this can occur. Some of the most common include asset protection to avoid liquidation, regulatory reasons such as regulated and non-regulated business maintenance, and taxation reduction on certain income streams.

Section 21 Notice

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Tenancy Agreement

A contractual agreement between a tenant and a landlord. It usually contains all of the information relevant to the tenancy, such as how frequently rent should be paid and how often it should be paid. It will also detail more specific criteria, such as grounds for eviction and how long the tenancy will last.

Eviction

Eviction is the removal of a tenant from rental property by the landlord. In some jurisdictions, it may also involve the removal of persons from premises that were foreclosed by a mortgagee. Eviction may also be known as an unlawful detainer, summary possession, summary dispossess, summary process, forcible detainer, ejection, and repossession.

Property

Anything owned by a person or entity, the latter indicating it is owned by multiple people. Property can be divided into two categories, real property and personal property. Real property refers to interest in land, real estate, and growing plants or any necessary improvements upon them. Personal property, sometimes known as personality, refers to everything else.

Possession

In law, possession is the control a person intentionally exercises toward a thing. In all cases, to possess something, a person must have an intention to possess it. A person may be in possession of some property (although possession does not always imply ownership). Like ownership, the possession of things is commonly regulated under property law.

Section 8 Notice

A landlord’s first step when evicting a tenant from their home is to serve them a section 8 notice. This does not mean a tenant must immediately leave the premises. However, it is a formalised notification of the action the landlord intends to take. If the section 8 notice issued to a tenant is upheld as valid, the landlord must go to court to complete the eviction.

Unfair Dismissal

Refers to a process of dismissal that is deemed unjustified or unfair by either the employee or from a legal perspective. In most cases, unfair dismissal can be challenged by the respective employee. Some reasons for dismissal may be considered automatically unfair.