Mortgage Glossary: W

Glossary of Terms
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Wear and Tear Wear and tear refers to reasonable damage that can be expected to a property over the course of a tenancy. Landlords must factor this in, tenants must be aware of what constitutes acceptable wear and tear and what will come out of their damage deposit.
Wear and Tear Allowance The wear and tear allowance is the amount of wear and tear a landlord will tolerate before charging tenants.

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