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Landlord accreditation
Many local authorities are beginning to introduce voluntary private landlord accreditation schemes that can assist universities offering student lets as well as general landlord associations. Under this accreditation landlords agree to adhere to certain standards in return for being able to say they are accredited.
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Landlord’s Energy Saving Allowance
Originally introduced in April 2004, this tax allowance covers loft insulations, cavity wall insulations, solid wall insulations, draught proofing, hot water system insulation, and floor insulation.
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Landlord licensing
By law all landlords in England and Wales landlords must obtain licenses from their local authority in order to let out HMO properties that are: three or more storeys, have five or more occupants who form two or more households and whom use shared facilities such as kitchens and bathrooms. Within this licensing process landlords are assessed to see where or not they are ‘fit and proper’ to be HMO landlords.

As of the 30th April 2006, all landlords in Scotland must register with their local authorities under the Antisocial Behaviour etc. (Scotland) Act 2004. Should they fail to register and let a property they could face fines of up to £5,000 as well as have their rental income withheld.

To gain a place on their registers, local authorities must be satisfied that landlords are fit and proper to let property. Included in this assessment are: any relevant convictions i.e. fraud, violence or drugs; evidence that the applicant has failed to take adequate steps to deal with antisocial behaviour on their properties; evidence that the applicant has failed to comply with laws relating to housing or letting, including management, money and physical issues; and any evidence that the applicant has practised illegal discrimination in any business activity.
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Land Registry
Is the official registry of property titles and contains the world’s largest property database.

Under the Land Registration Act 2002 (which came into effect in October 2003), owners of registered properties are given greater protections against squatters, enabling them to block applications for adverse possession with time allowed for recovery of possession.
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Leasehold
Where ownership of a property is granted by a lease for a fixed term. Within this lease will be details of rental payments and obligations such as repairs.
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Leasehold Valuation Tribunals (LVTs)
Also known as ‘Rent assessment panels’, these determine specified aspects of leasehold disputes under the Landlord and Tenant Acts of 1985 and 1987, as amended by the Housing Act 1996.
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Local Government Ombudsmen
Traditionally investigate complaints of injustice arising from maladministration by local authorities and certain bodies. In total there are three Local Government Ombudsmen in England whom deal with complaints from different parts of the country.
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Local Housing allowance
Represents a proposed replacement for housing benefit which is currently being piloted in Blackpool, Brighton and Hove, Conwy, Coventry, Edinburgh, Leeds, Lewisham, north east Lincolnshire, and Teignbridge. Under this scheme tenants are given fixed amounts to spend on rent and housing dependent upon the conditions of the local rental market. It also permits them to keep any saving or to contribute an additional amount needed according to their choice of properties. Payment direct to landlords will be precluded.
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Local search
Is an application to local authorities for information about a particular property and its surrounding area. During this application details of whether the property is affected by road buildings or outstanding matters such as sanitary notices will be revealed.
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LIBOR
Also known as the ‘London Inter Bank Offered Rate’ this is the rate at which banks lend money to one another. This rate changes daily and because of this a LIBOR linked mortgage will normally be adjusted every quarter (every three months).
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Loan to value (LTV)
Stands for the size of a mortgage when taken as a percentage of the value of a property.
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