With the recent economic climate, renting a property has become the most popular method of obtaining a home. Renting a property doesn’t have the long term commitment, such as a mortgage when buying a house. This simple guide has been put together for you, to help you decide whether renting a property is for you.
Before renting a property, you need to ensure you can afford the payments for the full term of the legal tenancy agreement between the two parties. Even if you are no longer living in the property, once the agreement is signed it can be tough to get out of, still legally required to meet all the requirements of the agreement for the whole of the fixed term. Consider all your other financial commitments and outgoings are before making the decision to go ahead.
Choose an Area
When choosing an area to rent a property in, there are some aspects to consider;
* Your place of work and local transport networks
* Distance from shops and facilities
* Distance from family and friends
* The reputation of the area where the property is located
* Will you be happy living in that area for 6 months or more?
Choose a property
* What is your price range?
* Do you require a house or an apartment?
* How many bedrooms do you need?
* Do you need more than one bathroom/WC
Book a viewing
The chances are you are not the only person who has seen this property and others may be interested, so as soon as possible book a viewing by contacting us!
Apply for Property
* Firstly you will need to contact your agent, notify them that you would like to apply for the Property
* If you have any questions for the Landlord, you must ask them through the agent
* You will need to fill out an application form, and pay the administration and holding fee
* The agent will then carry out referencing on you such as, a previous Landlord check, employment confirmation and a credit check. If you are unemployed you will need a guarantor. This process could take up to 10 days.
* Transfer contents insurance over, ready for move in.
* You will need to sign the Tenancy Agreements
* You will need to pay the first month’s rent & bond. (The bond will be held by a third party company)
* Take the meter readings with the Agent, usually the agent will inform the utilities and council that you have moved in
* Confirm that you are happy with the inventory and sign
* Enjoy your new home!!