When should I start looking for a property to rent?

First, make sure you know when you want / need to move. Once you know this information, you can start your research. Obviously the sooner you start looking the better but in reality lots of properties are marketed when they are available so if you looking 3 months in advance you not going to find anything. Typically, we would recommend looking no sooner than 4-6 weeks before your move date.

How long will the process take?

Ultimately this depends on the level of supply and demand at the time, your requirements, the particular time of year and other factors. You will save yourself time if you start looking with a clear idea of where you want to live, the kind of property you want, the price you are willing to pay, plus any the specific requirements you have. In our experience, well organised applicants can usually find a property to rent in 4 to 2 weeks.

What happens once I found a property to rent?

To secure the property you will be asked to leave a holding deposit by the estate agent. This will allow the agent to take the property off the market and give you and them the time necessary to conduct the relevant checks.

What references will I need?

Typically the agent will want to obtain credit check (to make sure you have a clear credit history), an employers' reference ( to make sure you have a full time, permanent position) and can afford the rent, plus a landlord reference if applicable (to confirm you have conducted your tenancy in a suitable manner). They may also ask to see pay slips, bank statements and photographic ID. In some instances, you may need to provide a guarantor and this will need to referenced in the same way.

How long before I can move in?

Usually the agent and you will agree the move in date when you leave a holding deposit. But technically, you can move in once the relevant reference checks have been carried out satisfactorily and the flat is ready (i.e cleaned etc).

How long will the contract be?

Again, this is something you should agree with agent when leaving your holding deposit. Usually Assured Shorthold Tenancy Agreements are either 6 or 12 months.

How much will it cost?

This will depend entirely on the cost of the property and the agent through which you find it. Typically, you be asked to pay for reference cost, plus a months' rent in advance and a security deposit (of between 1 – 2 months rent)

What happens to my deposit?

Since 2007 all deposits have to be lodged by the agent / landlord within an accredited deposit scheme (DPS, mydeposit etc) within 14 days of your move in date. The deposit is then effectively held by an independent body – meaning neither you nor the landlord can touch it until the end of the contract and after you have agreed whether there any deductions from it.

What are my responsibilities as a tenant?

As a tenant to have a responsibility to adhere to the terms of the contract you sign – which can be many and varied. However in practice, your main responsibilities are likely to be to pay the rent in full and on time, pay the council tax and all the utility bills, keep the property in the same condition as when you moved in, not to cause a nuisance to your neighbours and report any problems with the property to the landlord / managing agent as soon as possible.

When do I pay the rent?

Unless agreed in advance the rent will be due on the same day every day month – taken from the start date of the tenancy agreement. I.e if you move in on April 26th you will pay rent on the 26th of every month.

How much will it cost to let my property?

As a landlord you will have to pay for an Energy Performance Certificate, estate agent commission, in all likelihood a gas safety certificate plus inventory costs. These will vary subject to who you use.

How long will it take?

A difficult question to answer. It all depends on the market at the time, the price, the agent and obviously the property itself. The longer you have the better as this will give you (or the agent) time to find the RIGHT tenant and not simply the first person who shows interest. At Property World we expect to successfully let every property within 2 weeks.

Do I need to do anything before finding tenants?

In order to speed up the actual process of finding tenants, it always helps if the flat is clean, tidy and in good decorative order. Before the tenants move in you will require an Energy Performance Certificate, Gas Safety Certificate and smoke alarms. You should also ensure the flat is well maintained and that everything is working as it should.

Who does the viewings?

Unless otherwise agreed your estate agent will carry out the viewings

Managed or let only?

This is a personal choice and depends on many factors. Firstly there is financial difference between the two services provided by agents. Typically for a let only they will charge you a one off fee (normally a percentage of the rent) whilst for a managed service they will charge a fee PER MONTH. Obviously it pays to crunch the numbers.

However the most important factor when deciding whether to have your property managed is simply whether you want to be involved or have a relationship with your tenants. Ask yourself whether you have the time or inclination to receive calls if the boiler stops working or a tenant loses their keys. More importantly are you in a position to fix problems quickly and efficiently when they occur - do you have a plumber or handy man you rate highly? If the answer is yes, then consider managing the property yourself, if the answer is no, instruct an estate agent to manage it on your behalf.

What are my responsibilities as a landlord?

You must obtain an EPC, Gas Safety Certificate, provide an inventory, check any smoke alarms are working correctly, check furniture complies with current fire regulations, ensure the property is clean, well kept and all appliances are in good working order, pay the estate agent and any services charges for the property, keep any common areas in good order. We also believe the landlord has moral responsibility to fix any problems quickly and efficiently.

What happens at the end of the assured short hold agreement?

If the tenants want to stay in the property and you are happy with them then you have the choice of either offering another fixed term agreement (at which point you can increase the rent) or allow the tenancy to continue on a rolling month by month basis. Take advice from your agent and speak with the tenants before making your decision.

Can I let a property if I have a mortgage?

Check with your mortgage lender. Some mortgages do not allow the property to be rented out and you may have to gain permission from the mortgage company.

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• www.directgov.uk
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