Renting Guide
- Work out your renting criteria
- Register your details
- Viewing Properties
- Securing A Property
- References and Fees
- The Contract
- Your Security Deposit
- The inventory
- Move In
1. Work Out Your Renting Criteria
The first thing you need to do is decide exactly what you're looking for. This includes things like: number of bedrooms, location, property style, whether you want a garden or not, amount of monthly rent etc. By planning ahead in this way, you will save yourself lots of time.
2. Register Your Details
The next step is to register with as many agents as you can. The more agents who have your details, the more properties you are likely to view. Make sure you articulate exactly what you want so you don't get calls on, or end up viewing, unsuitable properties.
3. Viewing Properties
The key to successful viewings is to check everything yourself. View the property with a list of questions and things you want to find out. Spend time looking at other properties on the road and in the local area – see how clean and well maintained it feels. Check out the common parts (if applicable) and the general condition of the property. If you see things that need fixing, confirm with the agent that these will be corrected. Check out the water pressure and, if the existing tenants are in the property, ask them questions about their experience of living there.
4. Securing A Property
Once you have found a property you want to rent, you will need to leave a holding deposit in order to secure it. Make sure the property is then taken off the market. At this stage you should confirm your preferred move in date, the full costs involved (full deposit, rent, referencing and other charges) plus the length of contract. The agent should be able to confirm all of these details.
5. References & Fees
In addition to the rent and deposit, you will be asked to pay a fee to cover the referencing process – this will vary by agent. Make sure you ask whether there are any additional costs at this point. The reference checks are essential to determine your suitability as a tenant. Remember, the agent gets paid for finding tenants so he /she must be able to demonstrate your suitability. Typically the checks will include:
- A credit check – to ensure you have a history of good credit
- Employers reference – to ensure you have a full time permanent job and ensure sufficient wages to cover the rent
- Landlords reference (where applicable) – to ensure you have conducted your previous tenancy in a satisfactory manner
You may also be asked to provide pay slips, bank statements and photographic ID. In the event that your income is deemed to be insufficient, or because of other problems with these checks, you may be asked to provide a guarantor. They will be referenced in exactly the same way and will be contractually liable both financially and legally if you fail to pay the rent during the tenancy.
6. The contract
The contract is an agreement between you and the landlord. It outlines the key terms plus certain rights for you both. Most agreements today are Assured Shorthold Tenancy Agreements, which fix the tenancy for a specific period (agreed between you, landlord and agent), although typically they are either for 6 or 12 months. At the end of this period, and with the landlord's agreement, you can request a new fixed term or allow the agreement to 'roll over' on a monthly periodic basis. If the landlord wants a fixed term contract he must give the tenants 2 months written notice.
7. Your Security Deposit
You will be required to pay a security deposit before you get the keys – this is typically somewhere between one and two months rent. Since 2007 landlords / estate agents have a legal responsibility to make sure this is lodged in one of the approved deposit protection schemes within 14 days. Failure to do so can result in significant fines. The advantage of this new approach is it means the deposit is effectively 'ring fenced' and held by an independent body, so that when you leave only fair (and mutually agreed) deductions can be made. Make sure you find out which scheme the landlord or agent will be using.
8. The inventory
Without question this is one of the most important documents in the whole renting process. Ultimately, it may decide how much of your deposit you get back. Be very careful, therefore, to check it thoroughly and make any amendments you think are necessary. The document itself is a list of everything included in the property, plus a schedule of the condition of the property, prior to you moving in. Sometimes photographic evidence is also provided.
9. Move in
The big day finally arrives. You will be expected to pay or have paid one month's rent in advance plus the security deposit. You will sign the contract (with the landlord / agent), receive the inventory, the keys and usually set up a standing order to pay the rent. Make sure that you get the contact details for whoever is managing the property plus any emergency phone numbers in case the worst should happen. After that, it's simply a question of moving in, registering for council tax and the utility bills and enjoying your stay.