letting

Letting is the process by which a landlord grants a tenant the right to occupy a property in exchange for rent. It is common in the residential rental market, especially in the United Kingdom, where the term letting is widely used. A letting typically involves the landlord, the tenant, and often a letting agent who markets the property, screens applicants, and handles administration.

The common cycle begins with marketing the property, applying and referencing candidates, and drawing up a tenancy agreement. A tenancy deposit is paid and protected in a government-approved scheme. Tenancies can be fixed-term or periodic; the most common form in England is the assured shorthold tenancy. The tenancy sets rent, term, and the rights and responsibilities of both parties, with renewal or extension as an option.

Responsibilities and protections: landlords must keep the property safe and in good repair, and comply with safety requirements such as gas safety checks, smoke alarms, and energy performance certificates. Tenants must pay rent on time, maintain the property, and report faults promptly. Letting agents provide marketing, tenant referencing, and rent collection; some jurisdictions impose limits on tenant fees.

Legal framework and rights: tenants have rights to quiet enjoyment and protection from unlawful eviction when the tenancy is conducted under the law. Landlords must follow local regulations on deposits, safety standards, and registration where required. The letting market also includes property management and tenancy renewals, and may be subject to ongoing regulatory updates.