Are You New to Renting? Don’t Make These Rookie Mistakes
If you’re new to renting, here’s some advice that will help get your tenancy off to a good start and avoid future disputes.
Searching for a property to rent can be daunting, especially if you’re a first-time tenant.
But by avoiding the rookie mistakes listed below, you can build the foundations of a long and happy tenancy.
Not using a legit letting agency
Thousands of Brits lose money to fake property listings each year. Don’t be one of them.
The scam usually goes like this. A fraudster advertises a home to rent at below market value on a free-to-list platform (such as Facebook Marketplace or Gumtree).
The ‘landlord’ then cajoles the tenant into paying a deposit to secure the rental before they’ve viewed it in person.
The tenant naïvely hands over the cash - and never sees the ‘landlord’ or their deposit again.
Don’t wind up out of pocket. Conduct your property search through a reputable local letting agent.
Failing to budget properly
First-time tenants sometimes overlook some of the expenses that they’ll incur when renting.
Don’t forget you’ll need to cover the deposit, moving costs and contents insurance. You may also need to buy furniture or appliances.
Once you’ve moved in, on top of the rent, you may also have to pay Council Tax and utility bills (check the terms of your agreement).
Not signing a contract
Settling into a property without signing an agreement isn’t a smart move.
A contract outlines essential information, such as the rent you’ll pay, and the responsibilities of the landlord and tenants.
It means that if there is any dispute, you have something legally binding to back you up.
Read the contract
Always read a rental agreement carefully before you sign it. If you don’t understand something, ask for clarification.
And, if it’s a joint tenancy (ie you’re renting with another person), take note of the phrase “jointly and severally liable”.
This means that all tenants named in the contract are responsible for rent and damages.
So even if you and your flatmate agree to split the rent and responsibilities equally, the landlord can ask either of you to meet the terms of the contract.
For example, if your flatmate loses their job, the landlord can expect you to make up the shortfall (even if you’ve already paid half of the rent).
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