Every term used in this guide, explained in one line. Across the site, underlined terms show these definitions when tapped.
AAssured Shorthold Tenancy (AST)The standard tenancy agreement residents live under, typically for 12 months.See it in the guide
CClient accountThe account the housing income for your property is paid into; your property’s income is never pooled.See it in the guide
CCompletionThe day the purchase finishes and you become the legal owner.See it in the guide
CConveyancingThe legal process of transferring ownership of a property, handled by your solicitor.See it in the guide
CCouncil TaxThe local tax paid to the council on homes. In this model it is treated as an outgoing under the lease.See it in the guide
CCounty DurhamA county in North East England, close to Newcastle and the city of Durham. The homes are here.See it in the guide
CCPIConsumer Prices Index, the UK’s main measure of inflation.
CCPI + 1% indexationThe yearly rise in the target rent under the lease: inflation plus one percentage point. It can be lower if CPI falls.See it in the guide
DDecent Homes StandardThe government’s minimum standard for the condition of social and supported homes.See it in the guide
DDepartment for Work & Pensions (DWP)The government department that funds housing-cost support for eligible residents.See it in the guide
DDue diligenceThe detailed review of title, lease, searches and contracts by your solicitor before you commit.See it in the guide
EEngland and the United KingdomThe UK is made up of England, Scotland, Wales and Northern Ireland. The housing rules in this guide are for England.See it in the guide
EEPCEnergy Performance Certificate, rating a home’s energy efficiency from A to G.See it in the guide
EExchangeThe point when contracts are signed and the purchase becomes binding.See it in the guide
FFAH Homes LimitedThe tenant under the 25-year lease, which sub-lets to a registered provider.See it in the guide
FFreeholdOwning the house and the land it stands on outright, with no time limit.See it in the guide
GGross housing incomeThe total housing income a property receives before operating costs.See it in the guide
HHM Land RegistryThe official body that records property ownership in England and Wales.See it in the guide
HHousing BenefitHelp with rent administered by councils, still used for some types of supported housing.See it in the guide
HHousing-cost supportPayments towards rent for eligible residents, funded by the DWP and administered by local authorities.See it in the guide
IIntroducerAn approved broker or independent financial adviser we introduce you to. They send the property pack and walk you through it.
LLeaseholdOwnership of a property for a fixed period, after which it returns to the freeholder. The homes in this guide are normally freehold.See it in the guide
LLifecycle costsMoney set aside to replace items such as kitchens and boilers as they wear out.See it in the guide
LLocal authorityThe council responsible for housing people in need in its area.See it in the guide
MMyshon LimitedThe specialist operator that manages the property: placements, repairs, compliance, rent administration and reporting.See it in the guide
NNon-Resident Landlord Scheme (NRLS)The HMRC scheme for taxing rental income of landlords who live outside the UK. Take independent tax advice for your situation.See it in the guide
OOccupancyThe share of the time a home is lived in; higher occupancy means more housing income.See it in the guide
OOperating costsThe defined costs taken from the housing income under the lease: management, maintenance, sinking fund and outgoings.See it in the guide
PPass-through leaseA lease that passes the property’s real housing income to you after its own operating costs, instead of paying a set rent.See it in the guide
PPound sterling (GBP, £)The UK currency. Income is paid in pounds; exchange-rate moves change what it is worth in your home currency.See it in the guide
PProjected Year 1 RentThe target income for the first year, for example £15,288 on the two-bed reference home.See it in the guide
PProperty packThe documents for a specific home: details, figures, lease summary and legal information.
RRegistered providerA social-housing organisation regulated by the government, which lets the homes to residents.See it in the guide
RReservationSecuring a specific home while legal checks are carried out.See it in the guide
RResidual incomeWhat is left of the housing income after operating costs; this is what is paid to you.See it in the guide
RRunning yieldThe residual income as a percentage of the purchase price in a given scenario.See it in the guide
SSection 21The “no-fault” eviction route for private landlords in England, abolished from 1 May 2026.See it in the guide
SSemi-detached houseA house that shares one wall with a neighbouring house.See it in the guide
SSinking fundA reserve built up for future repairs and replacements.See it in the guide
SSIPPSelf-Invested Personal Pension, a UK pension that can hold some assets directly, subject to adviser and trustee approval.
SSolicitorThe independent lawyer who handles the purchase for you: title, lease, searches and contracts.See it in the guide
SStamp Duty Land Tax (SDLT)Tax paid on buying property in England, with surcharges for additional homes and non-UK residents.
SStatutory dutyThe legal duty councils have to help households in housing need.See it in the guide
TTarget Net Rent YieldThe target income after operating costs, as a percentage of the purchase price (12–13%). A target, not a promise.See it in the guide
TTemporary accommodationShort-term housing councils provide to households in housing need.See it in the guide
TTerraced houseA house in a row that shares its side walls with its neighbours. The house at the end of a row is an end-terrace.See it in the guide
TTransitional housingSafe, ordinary homes for people moving towards independent living, often referred by councils and support providers.See it in the guide
UUniversal CreditThe combined welfare payment for eligible people, which can include support with housing costs.See it in the guide
VVoidThe time a home is empty between residents, typically about a week in Myshon’s sample.See it in the guide