[{"data":1,"prerenderedAt":55},["ShallowReactive",2],{"content-/reference/property-management-glossary":3,"docs-toc":41},{"_path":4,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":8,"description":9,"type":5,"status":10,"applies_to":11,"last_reviewed":13,"related":14,"body":16,"_type":35,"_id":36,"_source":37,"_file":38,"_stem":39,"_extension":40},"/reference/property-management-glossary","reference",false,"","Property management glossary","UK property management terms explained in plain English.","live",[12],"shared","2026-05-10",[15],"/reference/accounting-glossary",{"type":17,"children":18,"toc":32},"root",[19,27],{"type":20,"tag":21,"props":22,"children":24},"element","h1",{"id":23},"property-management-glossary",[25],{"type":26,"value":8},"text",{"type":20,"tag":28,"props":29,"children":31},"glossary",{":items":30},"[{\"term\":\"Apportionment\",\"definition\":\"The proportion of a charge that each unit pays. Set out in the lease and modelled in PropLink as a lease schedule.\"},{\"term\":\"Assured shorthold tenancy (AST)\",\"definition\":\"The standard private residential tenancy under the Housing Act 1988. Being replaced by periodic tenancies under the Renters Rights Act.\"},{\"term\":\"Block management\",\"definition\":\"Managing leasehold residential blocks. The agent collects service charges, instructs contractors, prepares year-end accounts and corresponds with leaseholders.\"},{\"term\":\"Decent Homes Standard\",\"definition\":\"The statutory standard for housing condition, being extended to the private rented sector by the Renters Rights Act.\"},{\"term\":\"Directors (RMC)\",\"definition\":\"Directors of a Resident Management Company, who are leaseholders elected to manage the company that owns or operates the freehold.\"},{\"term\":\"Estate management\",\"definition\":\"Managing the shared infrastructure of a development (gardens, roads, gates, communal lighting). Often involves estate rent charges rather than service charges.\"},{\"term\":\"First-tier Tribunal (Property Chamber)\",\"definition\":\"The tribunal that hears leasehold disputes, including challenges to service charges, lease enfranchisement and right to manage.\"},{\"term\":\"Forfeiture\",\"definition\":\"The freeholder's right to take back a flat for breach of lease. Heavily restricted in modern law and rarely used.\"},{\"term\":\"Freeholder\",\"definition\":\"The owner of the freehold. In a block of flats, holds the building subject to the leaseholders' rights.\"},{\"term\":\"Golden Thread\",\"definition\":\"The structured, accurate, accessible information about a high-risk building required under the Building Safety Act 2022.\"},{\"term\":\"Ground rent\",\"definition\":\"The rent a leaseholder pays the freeholder for the land. Restricted to a peppercorn on most modern leases.\"},{\"term\":\"Headlease\",\"definition\":\"A lease granted by the freeholder, often under which sub-leases are granted to individual flats.\"},{\"term\":\"High-risk building (HRB)\",\"definition\":\"A residential building at least 18 metres or 7 storeys with 2 or more residential units, subject to the Building Safety Act 2022.\"},{\"term\":\"HMO (House in Multiple Occupation)\",\"definition\":\"A property let to multiple unrelated tenants sharing facilities. Subject to licensing in most areas.\"},{\"term\":\"Leaseholder\",\"definition\":\"The holder of a long lease (typically 99, 125 or 999 years).\"},{\"term\":\"Leasehold reform\",\"definition\":\"The ongoing programme of legislation reducing leaseholders' exposure to high ground rents and improving their rights to extend leases or buy the freehold.\"},{\"term\":\"Major works\",\"definition\":\"Significant works to a building such as roof renewal or external decoration, usually subject to Section 20 consultation.\"},{\"term\":\"Managing agent\",\"definition\":\"A firm appointed by the freeholder, RMC or RTM company to handle day-to-day management.\"},{\"term\":\"Peppercorn rent\",\"definition\":\"A nominal ground rent of effectively zero, used on modern leases under the Leasehold Reform (Ground Rent) Act 2022.\"},{\"term\":\"Principal Accountable Person (PAP)\",\"definition\":\"The person legally responsible for the safety of an HRB under the Building Safety Act 2022.\"},{\"term\":\"Reserve fund\",\"definition\":\"Money collected from leaseholders over time to spread the cost of major works. Sometimes called a sinking fund.\"},{\"term\":\"Resident Management Company (RMC)\",\"definition\":\"A company, often of leaseholders, that manages a block. Frequently named on the original lease.\"},{\"term\":\"Right to Manage (RTM)\",\"definition\":\"The statutory right of leaseholders to take over management of their block from the freeholder, without compensation.\"},{\"term\":\"Section 20\",\"definition\":\"The consultation procedure under the Landlord and Tenant Act 1985 required before incurring qualifying expenditure above the statutory threshold.\"},{\"term\":\"Section 21\",\"definition\":\"The no-fault eviction notice for ASTs, abolished by the Renters Rights Act.\"},{\"term\":\"Section 166\",\"definition\":\"The notice required before recovering ground rent under the Commonhold and Leasehold Reform Act 2002.\"},{\"term\":\"Service charge\",\"definition\":\"The money leaseholders pay towards the running of their building.\"},{\"term\":\"Sinking fund\",\"definition\":\"Another term for reserve fund.\"},{\"term\":\"Surrender\",\"definition\":\"The mutual ending of a lease or tenancy.\"},{\"term\":\"Tenant\",\"definition\":\"A person renting a property under a tenancy (rather than holding a long lease). The Renters Rights Act distinguishes from leaseholder.\"},{\"term\":\"UPRN\",\"definition\":\"Unique Property Reference Number, the UK address authority's identifier for every addressable property.\"}]",[],{"title":7,"searchDepth":33,"depth":33,"links":34},3,[],"markdown","content:20.reference:property-management-glossary.md","content","20.reference/property-management-glossary.md","20.reference/property-management-glossary","md",{"_path":4,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":8,"description":9,"type":5,"status":10,"applies_to":42,"last_reviewed":13,"related":43,"body":44,"_type":35,"_id":36,"_source":37,"_file":38,"_stem":39,"_extension":40},[12],[15],{"type":17,"children":45,"toc":53},[46,50],{"type":20,"tag":21,"props":47,"children":48},{"id":23},[49],{"type":26,"value":8},{"type":20,"tag":28,"props":51,"children":52},{":items":30},[],{"title":7,"searchDepth":33,"depth":33,"links":54},[],1778601708444]