Young Couple Looking to rent help??!

it7

Werdnal wrote: »

Remember all the other expenses and bills you have to factor in, which you may not contribute to at the moment:

Council tax
Utilities
Broadband/landline
Insurance
Tv licence
Food
Toiletries


You may easily be able to afford the rent, but there is much expense to having your own place than you may realise at first glance. Sit down and write a list of what your monthly expenditure is likely to be.

Also, as first time renters, LL/agent may ask for a guarantor back up your tenancy. Do you know someone who would be bale to do this for you? They normally need to be a homeowner/high earner and will need to be credit checked themselves to ensure they can cover missing rent should you struggle to pay. You may be adamant this will never happen, but LL may want the extra security.

Yeah, I'm not a complete rookie! aha Yeah i have factored in all the council tax and utility bills and i've been reading the forums to see how much it costs etc... I'm pretty sure I can handle it all.

So would you say having a guarantor & a healthy deposity would secure the place? even if the checks come back negative? or would everything have to be perfect?

Also we both have to move out soon (mums just sold her house) so if we can't get this place is there hope to get another place anywhere else?

thanks again guys.

Werdnal

A guarantor would definately help. The idea is that if you canot pay, the LL has a legal right to chase your guarantor for what you owe, so puts their mind at rest if there is any doubt over your finances or rental history. But the guarantor would have to check out as acceptable too - you can't just put forward great uncle Cedric, if the LL checks them out and refuses!

Didn't mean to suggest you are a "rookie" but many people forget the living expenses on top of their rent every month - sorry if you took my suggestion wongly! Its the little things - washing powder, toilet rolls etc, that all seem to miraculously appear when you live at home, that suddenly come out of your pocket, and soon mount up!

The "healthy" deposit wouldn't really be yours to decide - LL would specify how much he wants and thats it (although I believe there are rules about taking more than equal to 2 month's rent as a deposit). Remember you will have to pay for credit check/referencing, usually individually for both of you, then a month's rent upfront and deposit on top before you even get the keys, so you are possibly looking at £1000+ just to secure the place. There will also be a fee for checking any guarantor too.

Check the agent's terms for any cash you hand over for checks etc, and whether you get anything back if the tenancy doesn't go ahead (less agent's expenses to that point). Also, get a written receipt for anything you pay. There is a good "Sticky" thread at the top of the forum "A tenant's guide to renting" if you haven't already read it.

it7

Okay thanks Werdnal! I have been reading an awful lot up about it and found it the credit checks are being done through MARAS, Anyone had any dealings with these guys? and any idea on the grading criteria?