The amount of people renting in the UK is at a record high. The costs of rent are also increasing every year so follow this guide to help you save when you rent a home.
- Research the area
First things first, you need to decide where you want to live and then if you can live there. If you don’t drive, what are the public transport facilities like? Have children? You’ll want to be near good schools. It’s important to understand what you require in your local town, like supermarkets and a hospital and making sure those amenities are there before you commit to anything.
- Find out how much is to be paid upfront
The last thing you want to do after you’ve found your dream home is to be informed of costs you weren’t expecting. Generally, you’re looking at 1.5x the rent plus estate agency fees as an upfront cost, which includes deposit. If you’re renting a home at £1000pcm, make sure you have approximately £2500 available for upfront fees. This does vary dependant on landlords and letting agency.
- Ask the landlord to decorate
If there are any major works that need doing, stand firm on this. It’s in their interest to fix that leaky sink so they can rent it quickly. Otherwise, it is also worth asking them to paint the walls or replace the carpet. A tenant can ask the landlord to do anything, but of course the landlord isn’t obligated to heed these requests
- Read your agreement carefully
So you’re in position to move in. you’ve agreed the rent and paid the fees and all that is left is to sign the contract. It is abundantly important to read this thoroughly and not just take the landlords word for things. It’ll take an hour of your time, but could save you unlimited stress and a lot of money if there’s something in there that you didn’t know about.
- Make an inventory
The chances are you will be provided an inventory. This is a list of any damages like a bedroom door or a broken plug socket. With many different people being in the property over the years, it is very likely the landlord or agent has missed items. Be sure to take pictures of any damages, scuff marks, rips in carpets or anything you deem as not perfect and send to the agent and the landlord as soon as possible. Get them to confirm they have received and agree that these damages were in the property before you moved in.
- Challenge the contract
If there are items you do not agree to, don’t just sign it without questioning. Make sure this is done before you sign it. Many repairs to a property are a legal obligation but some aren’t. If you want that cupboard door fixed, challenge the landlord to get that done before signing.
- Find out if there is a release clause
Check how your release clause works. Sometimes it can be as simple as just giving the landlord a months’ notice. However, these can also be really intricate clauses. Your landlord may require a minimum 3 months’ notice, and the tenant could then be obligated to either find a replacement or pay the rent until one is found.
- Discuss Pets
It’s important to let the landlord know about any pets you have as soon as possible. Some landlords can, and will refuse to allow pets in their property. This is fine if you know early so you can look somewhere else, but you don’t want to be all set up to be told no pets allowed.
- Make sure your deposit is protected
According to housing charity Shelter, one in five tenants in England does not know if their security deposit is protected. Your landlord is legally obligated to place your deposit into an authorised deposit protection scheme within 30 days of receiving it. They also have to give you the details of the scheme and your rights, so make sure you follow this up with them.
Categorised in: News
This post was written by Innermedia Ltd