Renting a property?

Amme

Hi all,

I am thinking of renting a property from an estate agent and would like to know what insurances I would need?

Also what would happen if I became poorly and unable to work or made redundant?

I just want to make sure I am in the know before I make the step!

Many thanks for your support.

mrcol1000

You wouldn't really need any insurance. You could get contents insurance to protect your possessions and if the flat is furnished you may have to ensure the contents insurance covered the landlord items.
As for getting ill and couldn't work or lose your job. It would depend on your circumstances but you may be able to claim housing benefit to pay your rent. It would depend on your savings and if your in a realtionship. Its best to make sure you have some savings. Maybe a couple of months rent as even if you were entitled to benefits it may take a while to get them. Although they should backdate them.
You just need to make sure you can afford to pay rent and other bills. Try and do a budget with the worse case scenario and then see how much money you have left over and work out if you could live on that. Remember as well there may be other costs when you first rent. A letting agent may require an admin charge and charge for references. If the flat is unfurnished you may need some furniture. Even if it is furnished you may still need to get a TV and other bits.