Could someone please talk to me about renting...

sapphire12_2

I've never owned a house or rented one so I am as clueless as can be about this.

So basically, what things do I need to know about renting? How does it all work? What costs do I need to budget for (such as a list of things like water, gas, electric, etc)? Do I need insurance? I really honestly have no clue.

Any advice is very much appreciated.

newbiejolly

Water, Gas, Electric, tv licence, phone, net, council tax,. Make sure you get your landlords address when you sign the tenancy agreement. Apparently 6 month assured shorthold tenancy's are the best. Make sure they do an inventory and you have a copy of it. Take pictures when you move in (maybe a bit over the top) your deposit should be held in a deposit protection scheme too

kunekune

You will need contents insurance. Building insurance is the owner's responsibility. Most letting agencies insist on a 6 month assured shorthold tenancy, you may get month-to-month elsewhere. Which is best depends on whether you are prepared to swap a vague kind of security (ie, I know I can't be chucked out until x date) for flexibility (either of us can give notice of x amount at any time). Bear in mind that the agencies (who ALWAYS require an AST) will charge you on top of that for credit checking, and their admin costs: at least some of these costs will be repeated each time you renew, ie, every 6 months ...

moneysavinmonkey

I found this website (link) when I was first looking to rent and would highly recommend it - covers pretty much everything! They also have a directory of letting agents although it was a few years ago I used that so don't know how up to date it is. Hope that helps.

whoops wrong link - the renting info is here

MissMoneypenny

Try to speak to the previous tenant to see if the landlord has been a good landlord and ask why they are leaving.

Ask the neighbours what the landlord is like (they always know).

Look on the bad landlord sites to see if the landlord is listed.

If the landlord says that he will fix any repairs that need doing/clear any rubbish after you move in...never, never,never believe them.

Ask for proof that they have permission to let from the mortgage lender or look at the deeds on land registry online to see where the lender has listed the landlords home address.

Look about the place to see if the landlord has kept it in a good state or repair and that the place is not showing any signs of damp.

Check the water power.

Check that the boiler and heating is working properly.

If you have a car, check to see how easy parking is.

Go back to the property at different times of the day.

Have a look to see how many power sockets there are.

Check the phone line is working and get the reply in writing.

Check what the tv reception is like and get the reply in writing.

Zammo

It's all about teh renting at the moment. It's so now.

tbs624

Lots of info here: http://england.shelter.org.uk/advice/advice-242.cfm and here: http://www.allerdale.gov.uk/downloads/page115/Leaving%20Home%20Guide.pdf

Andy_Hamilton

When you say you want to rent, do you want to rent your own "home" or do you want to share with people?
Renting a property for yourself is more expensive than sharing. If your really not clued up you may consider renting a room as a lodger. It's normally cheaper and you normally get a better standard of place to stay at.

For my lodger, he has pretty much everything you would see in a hotel room and just needed to put his clothes. He also has the use of my kitchen and living room, sky , internet etc All for a fixed monthly fee all included except phone calls. The notice period for a lodger is much less, mine is 2 weeks. If you rent a property you may have to sign up to a 6 month contract.

MissMoneypenny

Look for a rental which is from a person renting out their own home. There seem to be plenty around at the moment. These are much better quality homes than the buy-to-lets as owners tend to look after the houses they live in.

You can usually get a good deal on the rent on these houses too, as the owners tend to have a smaller loan to value than the BTLers and hence can cover their mortgage payments on a lower rent.