Renting a house in any part of the UK is not as simple as finding somewhere you like; it entails a lot more than you think. Renting a house goes beyond finding a house, paying the necessary fees and moving in. So, before you take a quantum leap into the property rental market, you should know these important tips as they are pointers to your success.
- Renting costs more than you think
A potential property renter must have saved enough money before nursing the thought of plunging into the property rental market. As a property renter, you must have saved enough to pay for the first month’s rent as well as the deposit. Most times, there are additional hidden costs.
Sometimes, landlords and letting agents prefer to run credit and reference checks on tenants and pass the cost to you. Additionally, if you are renting a property through an agent, then you will have to prepare for a huge deposit as well as administration fees. In a nutshell, you need to consider:
- Deposit fee
- First month’s rent which is paid upfront
- Referencing fee
- Administration fee
However, administration fees and referencing fees vary from one agency to the other. Therefore, you should check the fees with the letting agent before making an offer on any property in your location of interest.
- There are bills to pay
Payment of bills is an integral part of any tenancy, and unfortunately, it is the reality of renting a home of your choice. So as a tenant, you need to take care of all household bills and these bills are:
- Council tax
- Water bills
- Energy bills – gas and electricity
- Internet / broadband bill
- Contents insurance
- Landline telephone bill
- Digital / satellite TV subscriptions
Nevertheless, some of these bills can be taken care of by the landlord when an agreement is reached.
- Research is important
Undertaking research involves checking the rental guide prices from different areas to know the reasonable price and making an offer on the asking price. It involves checking the price of similar property in the market. You should be aware that the furnishings and the decoration of the property contribute greatly to its cost.
Also, you need to consider the environment, crime statistics, transportation, as well as your immediate family before choosing to rent in a particular location. The more knowledge you have about a property and the more research you do will better your chances of securing a good rental property.
- Electrical appliances must be in good shape
When renting a property, you need to consider the condition of all electrical appliances included in the price such as kettle, toaster, microwave, oven, washing machine, etc. However, you need to make provisions to purchase anything that is not provided with your money. If any of the supplied appliances is in bad condition, then it is ideal to discuss with the landlord how to replace it before you move in.
- Understand the contract
You need to sign a tenancy agreement before your tenancy begins. So it would be wise to read and understand every bit of the contract terms before signing it. If there is any ambiguity in the contract you do not understand, then consult your lawyer.
The contract should be supplied with an inventory stating the condition of the property, furniture and appliances provided as well as their conditions.