Are you looking to rent an apartment or house? Renting is a fact of life for many of us, with many now expecting to rent for life, whether through choice or being unable to buy a home. One thing to consider is that the rental market is fast-paced, requiring you to make quick, well-informed decisions. In order to choose a property you’ll be happy living in – and, most importantly, staying in – it is imperative that you know how to rent a property. From finding and securing a new home, all the way through to what to expect from a tenancy agreement, our guide to renting will help you find your dream property. Before moving in, you will need to pay a security deposit and probably one month’s rent in advance. These initial checks establish that you can afford to rent the property and will, therefore, make a good tenant. How long do you want the tenancy for? A tenancy is usually a minimum of 6 months (sometimes 12 months), so if you aren’t sure, you can ask for a tenancy to be extended. But remember, there are living costs involved in extending your fixed term tenancy agreement. Before renting out a property, start gathering together documents that your agent will need to confirm your identity, immigration status, credit history and possible employment status. You can also check out this checklist provided by the official government site. Before you start looking, carefully review what sort of property you want and which best suits your current lifestyle. This is especially important if you’re renting out a property for the first time. Here are some examples: Once you have done this, make a list of your essential search criteria so you can easily narrow down your options and streamline the renting process. We offer a number of ways to find a rental property that is available now – use our property search, adjust the filters and advanced features to find exactly what you want, where you want. This is one of the most important sections in our guide to renting as the only way to really get a feel for the property, is to arrange some viewings. Go through your list of favourites and arrange viewings through the site or ask the branch renting the property. Many lettings agents offer virtual viewings or video tours so you can see if the place is right for you before going in person. Here are some important tips to ask yourself: And if you’re looking at renting through an estate agent, make sure you understand the benefits of doing so. Look deeper at your finances by reviewing the ongoing costs of running a rental property. There will be a few significant outgoings when you first set up a new tenancy in the renting process: Additionally, once moved in, you will have ongoing costs such as: It’s important to take these costs into consideration when you’re renting out a property. Remember too that it’s important to keep paying your rent on time and in full, as this may affect your credit score. To avoid this, we advise you to write down a projection of all your monthly outgoings (not forgetting disposable income spent) so you can see how much money you have leftover. Now you’re further down the line in the renting process, and you will have legal responsibilities to your landlord as a tenant. Read your written tenancy agreement carefully to understand your rights and responsibilities – and if you have any qualms, make sure to seek advice from a professional before you sign. Agree on an inventory (or check-in report) with your landlord and, as an extra safeguard, make sure to take photos. This will make things easier if there is a dispute about the deposit at the end of the tenancy. If you are happy with it, keep a copy for your own records. And lastly, remember to take meter readings when you move in to help make sure you don’t pay for the previous tenant’s bills. Hopefully, our guide to renting has helped, and you’ve made the big move! Now, if you have any maintenance issues or questions, you will be advised who to contact during your tenancy to discuss whether action is needed by yourself or the landlord. Regarding property inspections, a property managed by the agent will receive regular visits by a member of staff to ensure the property is being maintained on behalf of a landlord (which normally only occurs a few times a year). This is also a great opportunity to raise any concerns during your time there. We’ll put you in the strongest possible position as a tenant. Contact us today and get the ball rolling! Alternatively, you can check out our properties available for rent or if you’re looking to purchase, you can check out our property search database.
Guide to Renting: How to Rent a Property
1
Have your finances prepared
Other things to consider
2
Establish your criteria for your rental property
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Arrange viewings
4
Budget for your tenancy
5
Tenant application process
6
Living in your new property
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