First time renting

PrimaFlower

Hello

I am looking to flee the nest this year and looking at renting. I have no idea of what I do except for looking at places on right move. Is the price they state per the month all I have to pay? Do I need to pay council tax and other things on top of that?

Thanks

R_P_W

Most rentals are just that - rent. You will need to pay council tax, gas & electric, water, contents insurance, TV license etc on top.

dimbo61

Phone and broadband, contents insurance,
Tenancy set up fees, credit checks, deposit,
All the stuff you need to kit out a flat EVERYTHING from a bed to a spoon, mop to toilet roll.

tim123456789

dimbo61 wrote: »

Phone and broadband, contents insurance,
Tenancy set up fees, credit checks, deposit,
All the stuff you need to kit out a flat EVERYTHING from a bed to a spoon, mop to toilet roll.

Mop! What's that for?

mustang121

Don't do it dude. All you will be doing is paying off somebody's else mortgage.

Stay at home and save up for a deposit. Whilst at the same time enjoy your young life of having lots of disposable income. Saving up for a deposit is !!!! easy if you have the option of staying with parents and you have realistic goals.

In answer to youur question. It will state on the advert whether rent is per week or month. Then as others have suggests, theres all the other costs involved.

gfplux

The best thing you can do is educate yourself by looking at a number of flats that are to rent. You will then begin to get a feel for the experience. You will also learn so much from asking questions.

Jesnon

Unfortunately renting can be very expensive! Usually you'll pay a 'holding fee' to the LA to stop them from letting the place to someone else (though this money is normally kept if it all goes through and all your other expenses are taken off of it), agency fees / credit checks / reference checks etc for all the paperwork (sometimes this can be quite extortionate if the LA thinks they can get away with it!) to make sure they think you can afford the property and keep paying rent on time, then a deposit (basically money you put down to keep the property in good condition, that if any repairs need to be made as a result of you will come out of at the end of the tenancy though you should normally get this back in full if you're careful not to damage the property / ensure it's as good as it was when you moved in), and often one month's rent upfront. This all can amount to at least £1,000 just to get started!

Then on top of that you have council tax (assuming you're working and not a student) - depending on the property, which can be quite expensive if you've never experienced it before (I pay around £140 a month for mine on a small two bedroom flat). Check on the right move advert, as some flats will have some bills included, usually water rates if anything. If not you'll then have all of your bills like gas, electric, water. TV license if you have TV, line rental and internet if you want broadband. If you know someone who lives in a similar situation as you're hoping (not sure if you're planning on living alone or with friends etc) and ask them roughly what they spend on bills per month. Obviously it will vary on your lifestyles and the style of the property etc (new builds and flats are generally cheaper for bills because they're better insulated so you need the heating on less and there's less space to heat etc)

Then of course you're actual living costs - groceries, travel, leisure, etc etc. Some people offer bills included properties which cover everything, which might be a nice option if you're new to renting and feeling a little overwhelmed. I'm not sure how common these are on standard rentals, but certainly some student rentals offer it.

It all adds up quite quickly, but if you think you can afford it then go for it! It's nice to have your own space and feel like a 'proper' adult

Werdnal

Read through the Sticky Thread at the top of the forum - A Tenant's Guide to Renting, for a lot of useful info.