First Time Residential Renting Guide

A guide to help you with the process of renting a home.

The current housing market has made renting property an increasingly important part of the way we live. House prices have outstripped wages significantly, making it difficult to get on the property ladder, so renting can often be the best option.

Although renting gives you greater flexibility than owning a property, it still takes time and money to find the right place, so it is worth putting some careful thought into finding somewhere that will suit you.

Before You Start Your Rental Search

Get financially prepared and know the costs and payments involved in renting before you start your search.

Before you move in you will also pay a security deposit of probably one month’s rent in advance or a maximum of 5 weeks. The Landlord may also ask your permission to undertake a Credit Check. These initial checks establish that you can afford the rent.

Other things to consider

The length of a tenancy is usually a minimum period of 6 months. However, in some cases you can ask for a tenancy to be extended for a longer period but remember this ties you in should you wish to move within this period.

Begin gathering documents that your agent will need to confirm your identity, immigration status, credit history and employment status.

You can also check out the government’s How To Rent: The Checklist For Renting In England.

How to find a place to rent

Think carefully about the type of property you want, and which best suits your current lifestyle:

• Do you have a car and therefore need off street parking or a garage?
• Do you own a lot of furniture so need an unfurnished rental, or would part/fully furnished be more appropriate?
• Do you want or need a garden for yourself, children or pets?

Where do you want to live?

• Do you need to be close to work or your children’s school?
• If you don’t drive do you need to be close to public transport links?
• Do you want to be close to town for nights out?

Once you have considered these points, make a list of your essential search criteria.

Where should I look?

There are a number of ways to find rental property that is available now. Use an online rental search tool and adjust the filters and advanced features to narrow down the search to suit your needs. Sign up for property alerts to find out about new to market rental properties.

BEWARE: Whilst we appreciate it can sometimes be frustrating if you can’t find the property you want immediately, please don’t be tempted to try to find one by posting a request for a property to rent on social media. Tenants can become victims of social media scams and have been affected both financially and emotionally as a result.

Arrange Viewings

The only way to get a feel for a property is by seeing it yourself.

Go through your list of favourite properties then arrange viewings via the website, or ask the agent. Many letting agents offer video tours or virtual viewings so you can get a feel for the property and whether or not it’s right for you before visiting it in person.

Take your list of criteria with you on the viewings to make sure the property is a good match. It is also a good idea to make a list of questions to ask – here are some important ones:

• How much is the rent per calendar month?
• What is included in the rent?
• What additional bills are there? What is the likely cost? If it’s a house-share, how are the bills split and who pays them?
• How much deposit is needed? Where will my deposit be protected?
• What compulsory payments do I need to pay to set up the tenancy?
• Are there compulsory payments further down the line if I choose to renew the tenancy?
• How long is the contract?
• What notice period is needed when I want to leave the property?
• Who should I contact in the case of an emergency?
• What insurance does the landlord have to cover the property? What insurance do I need to cover myself?

Tenancy

You will have a few significant outgoings when you first set up a new tenancy:

• Your first month’s rent
• Your security deposit which will be a maximum of five weeks rent where the rent is under £50,000 per year, or six weeks rent per tenancy where the rent is £50,000 or over per year.
• Other initial outgoings might include the purchase of furniture if you rent an unfurnished or part furnished property

Once you have moved in, you will have ongoing costs:

• Your monthly rental payments.
• Your council tax payments. Sometimes these may be included in the rent.
• Your utilities including gas, electricity and water. Sometimes these may be included in the rent.
• Phone bills, broadband and line rental.

Ensure you take all of these costs into account when thinking of renting 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.