First time renting, Advice please

homehunter88

Were looking to start renting sometime in the comeing months. We are first time renters and are still pretty young for this some might say, 21 / 19. We have a few questions that hopefully you good people will be able to help us with.

The main concern of ours is that we are both still pretty young and my credit history isnt the best, had problems with work so got behind with a lot, im back in work now tho and starting to get back on my feet, how are new possibly renters credit checked, do we just get told no or is the other ways. We are possibly able to put down a higher deposit.

Any advise ?

Thanks

bramble1

You can have a guarentour (sp) i believe, Is it possible you can pay say a few months in advance? that looks good too.

From my experience, don't go with a cowboy outfit! Please find an agent and research them before signing up to them, i was a first time renter nearly 2 years ago, have just moved out and i think we will have a battle to get our deposit back (been nearly a month they've not even written to us to tell us of any deductions!)
Take photos when you move in of any damage already there.

BitterAndTwisted

Issue Number One is that you both understand what joint and several liability is. This means that during the term of an Assured Shorthold Tenancy (aka AST) both of you are responsible for paying the rent in full, regardless if one of you is no longer living in the property. This has come as a very nasty surprise to previously loved-up couples once a relationship goes wrong and it's often the person who is the easiest to find who is the one pursued for the whole of the rent for the entire remaining term.

Issue Number Two is that once you've signed an AST it is often not possible to surrender the tenancy without paying for the whole of the rent, in full until the AST expires. It's not unknown for a reasonable landlord to allow surrender IF they can find alternative tenants but they will often charge the surrendering tenants for all of their costs in finding a replacement tenant. For this reason it is absolutely necessary to satisfy yourselves that the property is in a decent condition with any central heating boilers and showers in working-order.

If either of you has a poor credit record it is possible that rather than turning you down, the landlord will require up to six months of rent payable in advance plus a deposit or demand a guarantor who will be responsible for covering the rent for the whole term of the tenancy agreement. This is a huge responsibility and not one I would undertake for anyone: not even my closest relatives. Most Letting Agents will mark-up the charges for carrying out credit-checks as well but they should inform you of what the charges will be before you sign anything.