We tend to think of first-time renters being young adults moving into their first home be it a student let or moving to a new area to start a job. However, according to the BBC, the number of middle-aged renters has doubled over the last decade.
Young or old, Waymark has come up with a list of the top tips for you to consider when renting your first property
1. Budget For Tenancy Fees - There is a bill currently in parliament looking to ban the fees for tenants but it is not yet law. Expect to pay fees to cover referencing services and drawing up the letting agreement which might include an inventory.
2. Protect Your Deposit - This can be can be up to eight weeks of rent and these funds are required to be secured in a “tenancy deposit scheme”.
3. Be Clear On What You Are Signing - If you are sharing, you will likely be given a joint contract. This means you are jointly and individually responsible for the property. If one of your housemates disappears without paying their rent or damages the property, you can be liable for it.
4. Check What Is Allowed - Smoking, pets and even children can be excluded from a rental agreement so be clear on what is or isn’t allowed within the property.
5. Get The Certificates - Once you move in, you must be provided with a copy of the Government’s How to Rent Guide, a gas safety certificate (if applicable), the property’s Energy Performance Certificat and information on how your deposit is being protected.
6. Test Your Alarms - It is essential you test your smoke and carbon monoxide alarms. If they are broken, tell your landlord immediately. Also, although it should be done as part of the moving in process, record the meter readings and contact the energy suppliers.
7. Resist Using Your Hammer - Filling in picture holes and redecorating for the next tenant is expensive. So before you whack nails into your wall, get permission from your landlord. Otherwise you are asking for money to be knocked off your deposit for needless painting.
8. Insure Your Contents - The landlord should insure the building and any furnishings/white goods they provide, but you should insure your personal belongings.
The lettings market remains buoyant so make sure you are on the Waymark mailing list to receive email notifications of all our new lettings instructions.