There are key steps to successfully renting a property.
Prepare your finances - there are certain costs in excess of your monthly rent. These are:
- Holding Deposit - this is taken when you decide on a property. This is one week’s rent (where rent is below £50,000 per annum).
- Tenancy Security Deposit - this is 5 week’s rent (includes the one week holding deposit).
- It is a good plan to check your credit score as you will be fully referenced when you apply for a property. How much can you afford? As a rule of thumb you need an income of 30 x rent per calendar month. This can be a single income or joint income.
Finding the right property for you. Register yourself with Rightmove & Zoopla and other property portals and with ourselves. Once this is done you will receive details of properties that meet your requirements. Start your search 6-8 weeks prior to hoping to commence a tenancy.
Start viewing the properties you are interested in. The market moves fast, so act quickly!
Tenancy Applications - the good news is that this can be undertaken remotely. We have an online system where you can make payments, upload documents and read and sign the lease. You will need a clear credit history, the right to rent in the UK and confirmation of earnings.
If you do not have a clear credit history, it may be possible to proceed with a guarantor.
The Tenancy Agreement and moving in - once you have passed referencing, and a move in date is agreed, the Tenancy Agreement will be prepared. This document sets out the terms of your tenancy and you must read it. Once signed you and your Landlord are legally bound. You now pay your first month’s rent. The deposit will be lodged with the appropriate deposit scheme.
With some properties we can offer a zero deposit option. This costs one week’s rent and is effectively an insurance policy. You remain responsible for any damages during your tenancy, however the zero deposit option does reduce your upfront costs.
- You receive a copy of a professional inventory. The inventory consists of both photographs and a written description. You have 7 days after commencing the tenancy to raise any questions on the accuracy of the inventory.
- You will receive other documentation. This could include a copy of a Gas Safety Certificate, Electrical Check Certificate, Energy Performance Certificate and other prescribed documentation.
- Where we are managing the property, we will from time to time make an appointment with you to inspect the property. This is an opportunity for you to ask any questions or raise any issues.
If there are any items needing repair such as a washing machine we have an online fault reporting platform.
On your move-in day, you will have an appointment to visit our office and collect your keys.