The rental market is ever-changing and the rights of landlords and tenants are continuously evolving through the implementation of new legislation. At W J Meade, we make sure we are at the forefront of these changes, helping to advise both landlords and tenants alike to understand their rights and obligations.
Over the past few years, rental pricing has increased significantly and this has been driven by a number of factors, however it is still a much-sought avenue to find a home. Although renting may be seen by some as a hindrance to getting onto the property ladder, it has become an increasingly important part of the way we live now. Whether you are a student, (a) young professional, or a family struggling to get onto the property ladder, almost everyone will have been a tenant at some point in their life.
Whether you are a working professional looking to live alone, a student looking to find a ‘house-share’ or an individual looking for a home for your family, your personal circumstances will shape your rental journey. There are several factors to consider when planning to rent, and below, we’ve listed a few key things you should keep in mind:
Budget
Before you begin the search for your desired home, you need to work out if you are financially equipped for this move.
It is advised that you spend no more than 30% of your household income on rent, therefore if you are earning £21,000 per annum, you should be looking at spending no more than £525 on rent. Affordability is worked on as a joint annual income, so make sure to take into account all of the working people within the household (who will be contributing to the rent).
In addition to the rent, you will also usually be liable for utility bills and may have other costs to factor in. These include:
Up-Front Costs
Holding Deposit (capped at one week), Dilapidations Deposit, First Month's Rent.
Bills
Council Tax, Electricity, Gas, Water.
Other Monthly Costs
TV License, Internet, Telephone Line.
Your Property Search
Once you have worked out how much you can afford to spend on rent, you can start researching areas and properties you can afford. Think about the type of property you want to live in and what features it must have. What are your priorities and what are you willing to compromise on? Things to consider: Storage space, parking, outdoor space, number of bedrooms, number of bathrooms.
You will probably have a location in mind already, but here are some things you may want to consider…
How close is your Workplace?
Where are the nearest Transport Links?
What Local Amenities are nearby?
Do you need to be in a catchment area for a School?
Application Process
Before you start your application, make sure you have the following to hand:
- Previous address history (three years)
- Employment details/ contract
- Confirmation of earnings
- Current Landlord details
- Evidence of your Right to Rent in the UK
- Pay Slips (last three months)
- Bank Statements (last three months)
The agent will then carry out a referencing check based on the above, checking your credit status, employment details and rental history. Once a satisfactory report is produced, the legal and contract paperwork will be typed up in preparation for the tenancy to commence.
Your Responsibilities as a Tenant
Whilst you are living in the property, you are responsible for its upkeep and maintenance and you are expected to take reasonable care of the property and any of its contents. Below is a list of some of the responsibilities; you should refer to your tenancy agreement for more detailed clauses.
- Pay the rent when it falls due
- Changing fuses, light bulbs and replacing broken glass.
- Keep the property properly ventilated so as to avoid damage caused by condensation.
- Keep the property properly ventilated to avoid damage caused by condensation.
- Ensure that all windows, doors etc., are secured and locked properly when the property is unattended.
- Make sure that all rubbish is properly disposed of or made ready for collection.
- Report any problems immediately when they occur.
- Not cause any nuisance or noise to neighbours or the neighbourhood.
- Not to decorate the property.
- Not to keep pets in the property (unless a request has been submitted and approved).
Ending Your Tenancy
You will need to review your tenancy agreement to see when you are able to give notice to end the tenancy. You will usually be required to give two month’s written notice to your landlord/ agent, but will only be able to do this as you approach the end of your fixed term. Make sure you pay rent up until you vacate (and your contractual obligation), and settle all utility bills. Once you vacate, the landlord/ agent will complete a ‘check-out’ of the property to see the condition, making sure you have returned it in the same condition and as per the contract. Any queries regarding deposit deductions will be communicated with you, and once these are dealt with, the balance will be returned.
Important Information
Do:
- Advise us of any change in your personal circumstances.
- Make sure you understand the terms and conditions of your tenancy agreement.
- Advise ALL relevant utility companies when moving in and out.
- Give us a copy of any keys should you need to change the locks.
- Advise the Royal Mail to have post re-directed. This applies to moving out as well.
- Advise W J Meade or your landlord IMMEDIATELY of any repair or maintenance problem.
- Always ask if you are in doubt.
Don't:
- Alter the terms and conditions of your tenancy agreement.
- Move out without advising W J Meade or your landlord.
- Use your deposit as your last month’s rent.
- Change the names on the tenancy agreement or take in a “paying guest“.
- Re-decorate or carry out maintenance, repairs or alterations without prior written consent from W J Meade or your landlord.
- Advise W J Meade or your landlord IMMEDIATELY of any repair or maintenance problem.
- Refuse reasonable requests to access the property to carry out repairs, maintenance or inspections by your landlord/landlord’s agent or tradesmen.
For more details on what to expect as a Tenant, view our Tenant Guide here
