Renting has become an increasingly common alternative to property purchase and offers some attractive advantages. The most important benefit is flexibility, particularly the ability to relocate quickly and easily for employment. It can also be cheaper as it is the landlord who assumes all responsibility for maintaining the property. At the outset you will need to have your finances in order, to afford the first months’ rent in advance and the 5 weeks deposit together with references. The following guide sets out the steps to a successful tenancy. Please click here to see our client money protection certificate.
Does it include any bills or service charge? How long is the potential rental contract? Is the rent subject to review?
Are there good transport links, easy access to schools and amenities?
Do you require furnished or unfurnished accommodation?
Do you need to accommodate pets or children? Do you smoke? Are you in receipt of housing benefit? There may be restrictions which you will need to consider.
Does the property comply with Fire and Furniture Safety Regulations? Are there smoke and carbon monoxide alarms fitted? Is there a clear means of escape in the event of a fire? Are the electrics safe?
Is the property adequately safe and secure?
Do you need a garden? Remember you will need to keep it tidy.
There are numerous ways to find property to rent including searching the classified advertisements in newspapers, creating your own “wanted” ads for notice boards and local shops, researching the internet and “To Let” boards. Visiting estate and letting agents is probably the most fruitful. They will be able to arrange and accompany you on viewings, answer any queries you may have and guide you through the process.
The most commonly used tenancy agreement is an Assured Shorthold Tenancy which is for a period of 6 or 12 months. Beyond this term the tenancy becomes a periodic contract. The landlord is required to give 2 months’ notice to terminate the contract, and the tenant is required to give one month’s notice.
This will be required to secure a property and is normally held for 15 days unless both you and the agent agree to an extension. Within this fifteen days it would be expected that references would be back and you will have signed the tenancy agreement. The holding deposit equates to one weeks rent.
Five weeks rent payable in advance. This should be held in a government approved Tenancy Deposit Scheme. The deposit will be returned in full at the end of the tenancy agreement, providing there have been no damage or breakages.
You will also be responsible for insuring your personal possessions, utility bills, telephone and broadband, council tax, T.V. licence and any other services you choose to subscribe to.
Your monthly rent is normally due in advance.
Subscribe to receive the latest property market information to your inbox, full of market knowledge and tips for your home.
You may unsubscribe at any time. See our Privacy Policy.