Looking through property portals such as rentright.co.uk, which specialises in property to rent, rather than both sales and lettings is a good starting point. You can easily browse for available property and also refer to the rentright.co.uk Rental price Index for the area you have chosen to move to. This will give some guide as to the local average rental prices. You can then contact the letting Agent via the website regards the property of your choice, or alternatively register to receive live lettings property updates or indeed email all the local letting agents and register your interest.
The rental market moves faster than the sales market, so it really helps to build relationships with the letting agents listed on rentright.co.uk. Make sure they are clear about your requirements, and that they know you are a serious applicant.
1. Letting Agents
• Demonstrate you are serious – a hot tenant will be top of mind for the agents when suitable properties become available.
• Tell the Letting Agent your requirements that are fixed and which aspects may be more flexible.
• Don’t waste time looking at properties out of your budget range as this will not endear you to the Letting Agent.
• Give the Letting Agent feedback after viewings, including what you liked and disliked, and why.
Letting Agents usually charge a fee from between £25 and £150 for their services, i.e. the general administration involved in finding the property, taking up references and returning the deposit at the end of the tenancy. Often they require a holding deposit of £50 to £200, which usually goes to the first months rent, unless you pull out in which case you lose it all together. Given the sums of money involved, consider dealing with a reputable Letting Agent. Look for agents who are members of ARLA (Association of residential letting agents – www.arla.co.uk), RICS (Royal Institute of Chartered Surveyors – www.rics.org) or NAEA (National Association of Estate Agents – www.naea.co.uk).
Have a good look at the condition of the property – does it look tired, has it been well maintained? This can give an insight into the type of landlord you will be dealing with. Ask how long the property has been on the market – there may be scope for negotiation.
2. Found the right property – What next?
A tenancy Agreement is a legally binding document between you and the landlord. Make sure you get the agreement in writing. If a landlord does not produce this information within 28 days of your asking, he/she is committing a criminal offence and could be fined. The agreement should state:
• Your name, your landlords name and the address of the property being let
• The length of the tenancy from the start to the agreed finish of the occupation (if it is for a fixed term)
• The notice period
• The date the tenancy starts
• The amount of the rent payable, whether it is payable in advance, how often it should be paid and when it can legally be increased
• The agreement should also state what payments are expected, including council tax, utilities, service charges etc
• What services your landlord will provide, such as maintenance of common areas
• What type of tenancy agreement it is – for instance assured shorthold
• What the tenancy includes – is an inventory attached?
• The amount of the deposit, what it is for, whether it will be held in an interest paying account and when you will get it back
• Your responsibilities as a tenant – for example keep the property in good condition, TV licence, not to sublet, not to keep animals etc
• The obligations of the landlord – for instance to keep the property safe and in a good state of repair
• The notice period, which you and your landlord need to give each other if the tenancy is to be terminated
3. References
Your new prospective Landlord will be keen to ensure you are a suitable tenant with the ability to pay your rent, whilst making sure you have rented property with out any problems in the past (if applicable). The letting agent will charge a fee for this and request your permission to conduct the relevant searches. The letting agent may request some or all of the following references:
• References from previous landlords – this could be for up to the last 3 years
• A credit check – shows if you have a good history of paying bills
• Your bank details
• Details of your employment, and in some cases previous employer In the event of the information highlighting anything unsatisfactory or of a risk to the landlord, you may be asked to provide a guarantor. A guarantor will be contractually liable, both financially and legally, should you fail to pay your rent or damage the property during your tenancy.
4. The Deposit
Deposits are usually 4-8 weeks rent; payable in advance to moving in. It covers any damage you may cause to the property and is a “safety net” for the landlord’ to guard against the cost of replacing or repairing property damaged by the renter. This is often a problematic area of renting as what is considered as damage can often become a shady area. To avoid any dispute when claiming back your deposit, the essential step is to agree on an inventory. New legislation was introduced in April 2007 to help protect all parties with regards to the return of deposits. The Housing (Tenancy Deposit Schemes) Order 2007 was an amendment to Schedule 10 of the Housing Act 2004. This order led to the introduction of the Tenancy Deposit Protection (TDP), which started on April 6th 2007 now applies to all assured shorthold tenancies in England and Wales. The scheme aims to safeguard deposits once they have been handed over, and also to provide assistance in resolving any disputes between tenants and landlords.
• Tenancy deposit protection in summary – Landlords are required to join a statutory deposit scheme if they take deposits, this means deposits are safeguarded. Tenants will get all or part of their deposits back if they have kept the rental property in good condition.
5. The Inventory
This is one of the most important documents in the renting process and is critical in deciding how much of your deposit you will get back at the end of your agreement. It is a record of the state of the décor as well as furniture, kitchen equipment etc. All items contained within the property will be listed and their condition. You will be expected to sign the inventory. It is not uncommon for a Letting Agent to schedule in regular 3 monthly checks at the property to assess if any damage has occurred. It is more common though for the final inventory check to be done the day you are scheduled to move out. Any damages or losses can result in a deduction from the deposit being held.
6. Tenancy Agreements
Assured Shorthold Tenancy Agreement – (AST). The most common form of agreement, which sets out the duties of both the Landlord and tenant. The most important part of this document is that the landlord has the right to repossess the property at the end of the agreed term. The agreement does not have to be short, and can continue as long as both parties are happy. However if the fixed term is for more than 3 years, a deed must be drawn up and a solicitor used. For an AST the property must be the main home of the occupant, the tenant must be an individual and not a company, the property must be let as separate accommodation. The landlord has to give 2 months notice to terminate the agreement.
7. Gas and Electricity
It is your landlords’ responsibility to ensure any gas and electrical fittings and appliances are safe. By law they must have their appliances checked by The Gas safety register (formally CORGI) every 12 months. A record of inspection dates must be kept and you must be given a copy of this record.
8. Fire Safety
All furniture provided by your landlord must be ire resistant. If it is not, your local council trading standards department can take action. Building regulations require that all property built after 1992 must have a mains operated inter-connected smoke alarm fitted on every level of the property. Older properties do not have to comply with this.
9. Insurance
The landlord will usually be responsible for insuring the property and the items that do not belong to you.
10. The Landlords Right of Entry
Your landlord has a right to reasonable access to carry out repairs. However what “reasonable access” means depends on the reason why they require access. As an example the landlord is entitled to immediate access to carry out any emergency repairs. In any other circumstance, they should seek permission and give at least 24 hours notice unless they have a court order.
