Preparing for my first *proper* private rent in 12 months time!

-Peppermint

Hello everyone!

Wondering if you can help me. I am currently a second year student living in a second house. I have loans for my rent, parents to fall back on when it comes to coughing up for the costly deposits at the start of the year- naturally after I graduate this will be completely different, and I'm desperate to be independent and have everything sorted for me to move on with my life once I get that bit of paper!

This is really important to me as I have so many friends older than me, who achieved good degrees but went back to their parents straight after uni. A few years on they're still in their old bedroom with payslips that *could* pay for their own space, but snuggled up in the safety blanket of home. And their tea cooked and as much hot water as possible, obv :rotfl:

But I don't want to be like that. I had a really turbulent relationship with my parents and we get on so well now that I don't live there, so I don't want to be stuck in that position.

I should hopefully, fingers crossed- but no reasons why I shouldn't, have a place for my postgrad (I have funding but still need to work to top it up) in London next year. I have a part-time job with as much OT as I want so have a lot of potential to stockpile a decent amount of cash whilst I don't have rent coming out each month and staying with my parents in the summer (despite the constant rows!)

Now, I will have my finals in May- and plan on moving out end of June next year- just giving me about 8 weeks to cram in the overtime and leave me with a set of nice looking payslips.

Ideally by then I want enough in savings for:

Enough for three months rent to see me through summer. Will be living with my partner on a joint budget of £200 p/w- so this is about £1200.

A deposit for said home that I will be renting (how much are these?!)

Agency fees

Any other expenses that you need when you first rent a house?!

If any of you can give me any tips on how to get ready, how much I need in regards to deposits and fees, and any other expenses that I haven't thought about that would be great!

It may seem far off, but summer will be over soon, back to uni, home for Christmas, last term flies by and BAM I'm graduating. Very scary!

Much love and many thanks, looking forward to hearing your wisdom!

[Deleted User]

For moving costs I would expect:

- £100 - £200 for an "Administration fee" with the letting agent
- £150 - £300 for reference check costs
- The value of 6 weeks rent for the deposit (returned after tenancy ends, less deductions) -- eg £1000/m rent = £1500 deposit.
- 4 weeks rent up front (rent is paid before use, not after)

The biggest consideration will be trying to find a 3 month tenancy, most start from 6 months, some 12, rarely 3 months so you'll need to do some negotiating and perhaps pay higher rent.

-Peppermint

citricsquid wrote: »

For moving costs I would expect:

- £100 - £200 for an "Administration fee" with the letting agent
- £150 - £300 for reference check costs
- The value of 6 weeks rent for the deposit (returned after tenancy ends, less deductions) -- eg £1000/m rent = £1500 deposit.
- 4 weeks rent up front (rent is paid before use, not after)

Thanks

citricsquid wrote: »

The biggest consideration will be trying to find a 3 month tenancy, most start from 6 months, some 12, rarely 3 months so you'll need to do some negotiating and perhaps pay higher rent.

Why would I need a 3 month tenancy?