Generally renters are not looking for a dream home or place to retire, so don't start off on the wrong foot and look for these requirements. A suggestion would be to make a list of all the things that are important to you. So for instance; how long do you need to stay there, do you need a garage/off road parking, near to public transport, close to a school, need a garden, pets allowed, furnished or unfurnished, near shops, your place of work, family, friends etc? Then make a note of your monthly budget. Remember paying the RENT is just one of your new outgoings. What about council tax, gas, electric, telephone, extra travelling expenses, etc. Make a list of all your possible new outgoings
A HANDY CHECKLIST
Finding properties – look at a good range of agents, lettings specialists and private adverts. See lots of rental properties before making a decision – compare what's available and get a feel of the current market.
Check out the landlord – landlords have legal responsibilities and you need to know that your landlord is complying with their legal obligations. Ask if they are a member of the National Landlords Association. Speak to the local council, who may be able to tell you if they have had any complaints about the landlord.
Deposit - Ensure your deposit is covered by a tenancy deposit scheme, which makes the rules of the deposit clear and fair.
Protecting your deposit – make sure that you go through the inventory as soon as you move in, marking areas that you think have been missed, or where you feel the description isn't clear. Keep a copy and send the marked-up version back to your landlord or letting agent within 7 days of moving in. Ask for a written receipt.
Tenancy agreement – the agreement you sign when renting a house. It is a binding contract between you and the landlord. Landlords normally have a standard off-the-shelf tenancy agreement, which you should read and understand before you sign.
Assured shorthold tenancy – when renting you generally take out an Assured Shorthold Tenancy. This type of tenancy typically lasts for an initial period of 6 months and you will then be able to renew it. If you're looking for a longer tenancy period, make it clear when you enquire about the rental.
Sub-letting - Never sub-let your rental home without getting your landlord's permission.You will still be responsible for the property even if someone else is living there, as the tenancy agreement is in your name.
Sharing your property – if renting a room in a shared house, or renting with friends, make sure you set clear rules at the outset. Each individual needs to be responsible for their share of the rent, bills etc and for keeping the property in good condition. Potential new house-mates need to be checked out. Make sure they can afford their share of the responsibilities and get references, if you can.
More help and advice – Visit Shelter's website. It has lots of information about finding accommodation, housing benefits and your legal rights. You can also talk to your local Citizens Advice Bureau, where advisers may be able to help you. If you need to find out whether buying could be cheaper than renting - contact us!
Maybe thinking of RENTING while you are saving to purchase your new home? It can be a little confusing and you may lose time and money if you are not certain what you are doing. Here is a quick guide to give you a few pointers.
You can choose how we
are paid for mortgages:
pay a fee, usually 0.4% of
the loan amount, or we
can accept commission
The fsa does not regulate some forms of buy to let mortgages
For Mortgage Payment Protection Insurance and Buildings and Contents Insurance we usually offer products from a limited panel of Providers
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DO I HAVE TO USE THE ESTATE AGENTS MORTGAGE PEOPLE TO GET MY HOUSE?
No, as Independent mortgage brokers WE are not restricted to a panel of lenders and it should have no effect on whether you get the property you put an offer in for.
WHERE CAN I FIND OUT MORE?
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