In conjunction with the launch of it’s latest online publication, “The Tenants Survival Guide”, HowTo.co.uk has prepared a short guide on tenancy in the UK.
With prospective buyers and existing homeowners feeling the affects of the credit crunch, an increasing number of people are renting property rather than buying. So what are the processes and precautions would-be buyers need to take?
Beginning your search
Before you even start viewing houses, it’s important to identify the going rate for properties that match your needs. Log onto the internet, find newspaper adverts, and look in an estate agent’s window to get a feel of how much you’re willing to pay. This will give you an idea of how much your rent deposit will be, therefore enabling to count those pennies before moving in.
Viewings
Viewing property is a two-way process – the landlord or estate agent needs to provide you with the information you require. If the estate agent is unable to give you basic information about the tenancy agreement or advice on drawing up a property inventory, remember all the questions you need to ask and refer back to the estate agent or landlord directly. Conversely, if you meet a landlord who seems non-communicative, or not present at the viewing at all, the chances are that he/she’s unlikely to be around when something goes wrong in the property.
The Deposit
The deposit is usually between one or two months rent and covers the landlord of any damage or debt tenants may have incurred. A reasonable deduction may be imposed if there is any damage to the property or the whole deposit may be used if one tenant leaves. For example, if you break a door which is not the cause of wear and tear, expect to lose the bulk of your deposit. However, if you keep the property in good condition, expect to receive a full refund of your deposit.
Inventory
Intertwined with your rent deposit, it’s in yours and the landlord’s interest to write up an inventory. For more expensive properties, this is sometimes done by an independent company but it’s usually carried out by either the estate agents, or the landlord and tenant together. The latter is a great way to make sure that nothing is missed and both parties have the same information.
What do you enter into a property inventory? Anything that is present in the house that belongs to the landlord before you move in. Note any damages to walls, flooring, ceilings, and existing amenities and furniture. Look out for mould and damp. Use a digital camera and take pictures of the property. Once you’re happy with what’s on the inventory, sign and date it with the landlord. The accuracy of the inventory ultimately decides the fate of your deposit.
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