Legal & Regulations
Due Diligence
Thorough research before purchasing
Full Definition
Due diligence is the comprehensive research conducted before purchasing a property. This includes title checks, survey, local area research, rental demand analysis, comparable sales, planning history, flood risk, and financial projections. Never skip due diligence regardless of pressure to complete quickly.
Related Terms
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EPC (Energy Performance Certificate)
Rating of property's energy efficiency from A-G
MEES (Minimum Energy Efficiency Standards)
Minimum EPC rating required to legally rent property
Article 4 Direction
Planning restriction on converting properties to HMOs
HMO Licensing
Legal requirement for renting to multiple households
Selective Licensing
Licensing scheme for all private rentals in designated areas
AST (Assured Shorthold Tenancy)
Standard tenancy agreement for private rentals