Recently graduated 18 year old apprentice looking for help in renting a flat.

mjjobson

Hi,

I'm currently looking to start renting my own flat/apartment within the next 6 months, but I've got no idea what I'm doing!

I've had a look around various estate agents and third party sites to get an idea of price and get a estimate up of a budget. So my first question would be, are there any tips and tricks to get a cheaper flat, but that has the same quality of a more expensive one?

Being a recently graduated apprentice, I earn near enough £16,000 per annum, would this classify me as low income, or would I be able to receive any benefits to help with any associated costs of initially moving into my own place?

And lastly any tips that would be useful to me would be much appreciated.

Thanks in advance for taking the time to read and reply!

starbarboy

Hi there

Firstly, are you looking to rent on your own or share with others? This would help determine the best places to start looking. From a financial point of view, I would suggest sharing with others - this is generally cheaper than renting alone and your bills will be cheaper as you have more people to share the cost.

You can find adverts for flat shares online, in local newspapers & some shops have boards with adverts.

When considering costs you will have to account for paying a months rent in advance, a deposit (normally the equivalent of one months rent but sometimes more) and any letting agent or landlord fees, all which vary widely.

Assuming you have no dependants, you would not be eligible for any further benefits based on your salary. However, although your salary is not huge it is certainly sufficient for you to afford to rent.

Good luck and hope this helps

Stephen

mjjobson

Thanks for the info Stephen.
I'll have a look into flat sharing

RAS

Hi

You need to look at www.turn2us.org.uk for information on benefits and Local Housing Allowance. I suspect you are over the limit in most places.

2 things you really need to know.

1. Since you are under 35, the maximum allowance for LHA will be based on you sharing a house with other people. So if you lose your job and have rented a flat for £600 per month and the LHA rate is £300, you have to make up the deficit in your rent from the £53pw that you get as JSA. Sums do not work so think carefully.

2. Having not rented before and being subject to the shared housing rule for LHA you will struggle to persuade the letting agents that you are a suitable tenant for a 1 bed flat.

You may find it easier to get lodgings (sharing someones house) or move into a shared house.

You might be advised to either find a guarantor or to save up 6 months rent so you can offer that as an incentive to the LA.

Make sure you are on the electoral roll and make sure your credit record is squeaky clean (no phone deals that you have problams with etc).

mjjobson

Hi Ras,
Thanks for the info, definitely helpful.

In that case would I have more chance of being accepted as a tenant if I went to a Landlord rather than a Letting agency?