Looking to Rent

bearpaw_2

Hi there

Since joining this board a few months ago I have absolutley changed the way I handle money and have managed to save amazing amounts. Already my girlfriend and I are ready to move out as we have but enough aside for a deposit on a mortgage and would like to rent for the next 12 months just until the market calms down.

Anyway my point is we really dont know too much about where to take it from here, i.e How long before the date we want to move should we start looking, what kind of fees are incurred, how much deposit is normally asked, how to find out costs such as Council Tax and what other hidden 'tax's' may we unepectedly find ourselves paying, what are the best websites to investigate local properties (we currently only look at Rightmove)

I know theres a lot of questions but if people can help that'd be great. Ive looked aboutthe site and cant find much infomation regarding this but if Im just being blind please posta link

Thanks in advance!

:T

morg_monster

Well done on the saving!!!

Well, you can start looking whenever really, to give yourself an idea of the market and what size of place you can afford. I would start looking with the intent of viewing places up to 2 months before you want to move. Most lettings ads should say when the place is available - if you find that all these dates are really too early for you, then hold off for a couple of weeks (although move in dates are usually negotiable unless its a blinder of a place with lots of interest).

Council tax... well, if you know the area you want to move to, then look up council tax on the relevant council website. You will have to guess a bit as to which band you would be in, but if you're looking at a 1 bed flat, then the second lowest band probably, rising as you increase bedrooms and go from flat to house. If you already have friends living in similar places that you would be looking at, then ask them how much they pay.

Fees... ah well. It all depends really. If you go through a lettings agency you will probably have to pay a fee to sign the contract and a fee to get credit checked (both of you). Each fee could be around the £100 mark. Other fees? Hm can't remember its been a while since we started renting, I'll leave it to others. Deposit - in our neck of the woods (SW london) 6 weeks is pretty standard but 4 weeks or 2 months may also be likely. You could pop into a local agency and ask their policy.

Rightmove is good for lettings, you can't go far wrong sticking with that - but you will only get agency places. There are pros and cons of letting through an agency, although most people do it. Ask any friends if they have recommendations of agencies (this might be "the least bad" though!). Also you may get frustrated with the lack of detail and interior photos of places which can lead you to traipse around a lot of unsuitable places!

Where are you btw? If you're in London, my last piece of advice would be: Avoid Foxtons like the plague!!!

roguebrogue

Try www.gumtree.com for some private lettings, that's where we found ours.

bearpaw_2

Thats great advice!

Well were looking for flats around Essex way and Im pretty sure Foxtons are around here so Ill keep an eye out or them

We have an idea of the place were going to try to rent, and want to move in the next two months so maybe its a good idea to get in touch with the agencies about now. I believe as first time renters, going with an agency sounds safer and woulld help with any further details we would need.

Im so greatful of the detailed reply you have given me, and will look in to all the area's you have covered. Ill let you know how I get on and will put up any more questions I may have regarding the move.

Cheers!

PasturesNew

You will usually be expected to pay out:
- agency fees, might be per person too, so think £300 and you're quids in if it's less
- 4-6 weeks' rent as a deposit

You will then need to pay rent in advance, so will need your first month's rent ready and up front.

Unfurnished will mean you've got to spend a lot of time/money/effort finding and buying furniture and getting it in. Whereas furnished means you can just move in without that expenditure.

Again, if you move and own the furniture you will have to pay for removals - and every time you move furniture it looks a bit shabbier as it's manhandled.

You will need to get contents insurance. I use Endsleigh Tenants Insurance. This gives me extra cover, so I've insured the contents on my furnished flat in case I accidentally wreck something. It also gives me cover if the windows are broken or the door damaged/broken in, so they are fixed immediately rather than relying on the landlord to get it sorted at, say, 2am when I've got work the next morning.

Other fees to watch out for are inventory fees on arriving/departing. Agents might charge £50-100 when you move in to go through the inventory and another lump when you leave and they check the property.

Apart from that, mentally set aside £200 for your basic monthly bills (council tax, electricity, gas, TV license, insurance).

suzybaby2001

Hi,
I've just moved in with my fiancé and it was all very sudden when a job offer came up and he accepted (we've been together 6 years but have never managed to get jobs near each other). We were right on the borderline for giving a month's notice where we were (in two separate room lettings). We then realised that we were going to be away every weekend leading up to when his new job was due to start, so we got on the phone on Thursday and arranged viewings for the Saturday. I'd definitely recommend giving the agencies as much notice as possible as we were unable to view certain places due to the agency not being able to give current tenants enough notice for a viewing.

Luckily we found a house, went straight to the agency office and signed up. That was one crazy Saturday and we sat in the pub after in a state of shock! We paid £125 each for the fees, and the deposit was 6 weeks rent.

If you haven't already got one, get a joint account. We set up ours a while ago for paying for weekend treats/trips etc, but we've found this to be invaluable in setting up house together.

Ask the agency for a list of fees. We found out that it will cost us £100 to extend the contract from 6 months to 12 months, which we were not expecting.

Also check what the heating set up is - I wasn't told until we were handed our keys that we had storage heaters and an electric meter, I was not impressed as these are both more expensive ways to pay for utilities!!

We've had to be so organised over bills, we made a spreadsheet with everything listed, how much a month it will be and on what day is the direct debit coming out. You sometimes have a choice about the day for this so it's easier to work it around pay day for both of you.

Best of luck, I have to say it's the best thing we've ever done :beer:

bearpaw_2

Once again thanks everyone for the advice. Looks like weve got lots to think about and keep us busy over the next few weeks. Ill follow up on all the things you've advised and keep you posted!

Thanks.