A tenant’s guide to renting a property

Whether you’re considering renting a property or you’ve firmly made the decision to, we can help make the process of renting a new home just that little bit easier, ensuring everything remains as stress-free as possible.

Before starting your property search

Getting your finances in order
Before you even start searching for a property, it’s important to consider the financial implications of moving. From the initial outlay costs including deposits and moving costs to regular ongoing charges such as rent and contents insurance, you’ll need to consider your budget carefully and plan ahead.

In general, the main costs to consider are:

  • Deposit – payable prior to the commencement of the tenancy and usually equal to 5 weeks’ rent
  • Rent – usually payable monthly however different arrangements can be made depending on individual circumstances
  • Council Tax – usually payable monthly
  • Utilities – usually payable monthly for electricity, gas and water services.
  • TV Licence – usually payable monthly
  • Phone / Broadband / Cable or Satellite TV – usually payable monthly. Remember you need to seek permission to have cable or satellite TV at a property
  • Van Hire / Removals – one-off cost
  • Furniture – whether moving for the first time, upsizing or downsizing you may need to buy new furniture and/or appliances to fit a new property
  • Contents Insurance – usually payable monthly. It’s important to know that a Landlord’s building insurance will not provide any cover for your belongings and, although not compulsory, we strongly recommend purchasing your own contents insurance. We are happy to provide details of companies who specialise in tenants’ insurance for your convenience.

This list is for guidance only and by no means exhaustive. There are many other outgoings to include when budgeting your finances such as food, clothing, health and beauty products, mobile phone and leisure activities for example, so make sure you take everything into account when working out how much you can realistically afford each month. Plus, it’s always a good idea to set aside a small amount of money for any unexpected costs that may occur.

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Finding the right property

Establishing what you are looking for
Determining which location, you want to live in, whether you require parking or how many bedrooms you need is quite straightforward and for us it’s a great starting point to help you narrow down your property search. We would also recommend being as flexible as possible with certain aspects of your wish-list and open to suggestions to help us when searching for the right property.

For example:

  • Would you consider renting a second floor flat with a lift, even though you originally wanted a ground floor flat?
  • Would you consider an end of terraced house, even though you initially set your sights on a semi-detached property?
  • If you have children and are hoping to be in a particular school catchment area, would you consider a different area if another school performed to a similar level?

Our team of Lettings experts are here to listen to your requirements and find a property that’s right for you. We are here to help answer any questions you may have and also using our knowledge of the local area we can also make new suggestions that you maybe hadn’t thought of.

Once you’ve decided the size, type, location and any other requirements you need from the property you want to rent, we can begin to arrange viewings of properties which best match your criteria. Whether you are moving within the local area or from the opposite end of the country, we will do our absolute best to find you a property that suits your needs.

Brilliant news! You have viewed a property and would like to rent it.
Make sure you meet the necessary criteria to become a tenant.

Before you decide to secure a property with a holding fee, it’s important to understand the referencing requirements and general practices that are involved in renting, to ensure you will meet all the necessary criteria.

We use an independent, fully accredited agency to complete referencing and credit checks on all our tenants. These checks will require the details of your previous landlord (if applicable) and employer, as well as a copy of your passport or visa, to confirm you have the Right to Rent in the UK. In addition, you will need to have an income equivalent to at least two and a half times the rent and a satisfactory credit score with no CCJs, IVAs or bankruptcy.

If you aren’t certain you will meet the referencing criteria, it’s always best to be honest and upfront with us so we can discuss the options available to you – such as obtaining a guarantor – and discuss your personal situation with your prospective landlord.

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Choosing a house for you and your family is a very personal journey but with a little research and help from our team of Lettings experts, you’ll be on your way to making that property dream, a reality.

If you are thinking of renting and have any questions, we are very happy to help. Visit your local branch today or call 01903 213 111 to speak with one of our friendly team.

 

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Content accurate at time of publishing.

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