Newbie - Advice appreciated

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    Newbie - Advice appreciated

    Considering moving into rental property. Never rented before - only read horror stories of renting. Finance not a problem, however being naive, I dont want to be misinformed.

    1) Landlord (via agent) requires 2 months deposit up front??
    2) Agent advised 6 months rental payable up front (fairly understandable as I have just returned to U.K. and am unemployed - though short term I hope.

    Credit check (which I know will be fine) - costs £60 and then making up contract agent requires a further £60...

    Err, anything else I need to know at this stage please, and what are your thought re above? I do know there is already somebody else viewing this home to rent, so I'm not overly hopeful of getting a rent reduction, though I will try. Is new on market - very experienced landlord, owns load of property apparantly, so a neighbour has informed me.

    #2
    Originally posted by Garfield View Post
    Considering moving into rental property. Never rented before - only read horror stories of renting. Finance not a problem, however being naive, I dont want to be misinformed.

    1) Landlord (via agent) requires 2 months deposit up front??
    2) Agent advised 6 months rental payable up front (fairly understandable as I have just returned to U.K. and am unemployed - though short term I hope.

    Credit check (which I know will be fine) - costs £60 and then making up contract agent requires a further £60...

    Err, anything else I need to know at this stage please, and what are your thought re above? I do know there is already somebody else viewing this home to rent, so I'm not overly hopeful of getting a rent reduction, though I will try. Is new on market - very experienced landlord, owns load of property apparantly, so a neighbour has informed me.
    Deposits are usually 1 month or 6 weeks; 2 months sounds a lot, but in the end the LL will ask whatever the market will stand. He must however protect your deposit in a scheme (unless rent is over £25k per annum) and supply you with the details of same, all within 14 days of receiving your money.

    Ask to see the Energy Performance Certificate (he is legally required to have one in place before advertising the property) and if the energy efficiency rating is less than 50%, try to negotiate a reduction on the grounds that your heating and lighting bills will be above average for a property of that size.
    'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

    Comment


      #3
      the fees £60 plus £60 seems fair, less than some we've heard of..

      Comment


        #4
        Thank you guys. I think the agents fees seems fair also. The rent is £800 per month - bit steep but possible on my own, and unfortunately agent has advised me that I would be unable to 'let a room' to help with bills. I also happen to know the last tenant has only moved next door (same landlord) and had been in house for 10 years, so landlord must be ok I guess. I'm gutted really - wanted to buy in area and found a house to buy, but sadly couldnt agree cash price with current vendor and as there is little for sale in area in my priceband, thought maybe I would rent & see if vendor comes back to me. (Didn't really want to know all that, did you? ) Thank you again

        Comment


          #5
          Having been abroad, and therefore having little or no traceable financial history, might mean you will fail the credit check Doesn't mean you won't be able to rent, but are likely to need a guarantor.

          Also, be aware, if you rent you are likely to be tied in for a minimum of 6 months.

          Comment


            #6
            Originally posted by Garfield View Post

            1) Landlord (via agent) requires 2 months deposit up front??
            I ask, and get, 1.5 months deposit. I might ask 2 months for a less 'reliable' tenant.

            2) Agent advised 6 months rental payable up front (fairly understandable as I have just returned to U.K. and am unemployed - though short term I hope.
            Sounds normal. I occasionally take foreign MA students who can't provide a history of references so get 6 months rent up front.

            Credit check (which I know will be fine) - costs £60 and then making up contract agent requires a further £60...
            Doesn't sound excessive.

            Err, anything else I need to know at this stage please, and what are your thought re above? I do know there is already somebody else viewing this home to rent, so I'm not overly hopeful of getting a rent reduction, though I will try. Is new on market - very experienced landlord, owns load of property apparantly, so a neighbour has informed me.
            Use an agent who belongs to an agents association or guild, one which protects clients' accounts. If LL promises anything prior to signing TA, such as that they'll repair X or Y, GET IT IN WRITING. Check the whole rental property carefully before signing anything. Read the tenancy agreement carefully so you know what you're committing to, and what LL & T obligations are - some TAs make T responsible for repairing appliances such as the fridge or dishwasher - so CHECK. Make sure you see the Energy Performance Certificate, Gas Safety Certificate (if applicable), and ensure your deposit is protected in a scheme.

            Have a good look though the Shelter website as regards LL's obligations etc etc, and always conduct important communications with LL in writing with proof of postage.

            Comment


              #7
              Thank you all, including Westminster. Very valid point about agent being member of appropriate body. I will check that out & other points that are mentioned. Thanks again. These forums- very informative & helpful -

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