Renting is a commitment not to be taken lightly. It’s not only a huge chunk of your wage, but a base for your relaxation and leisure time.
Where you live has a much bigger impact on your life than you may have thought, so make sure you’re making the right decision. We can help you with this with just a few things to check before you sign on the dotted line.
Find out what’s included
Check what’s included in your monthly rent payments. The main things you’ll want to check is if any utility bills or taxes are included and which items of furniture will be left or added. These big cost items can hugely affect your budget and so it’s always best to be in the know about exactly what’s involved in your monthly payments.
Stick to your budget
First figure out your budget based on how much you earn, how much any bills may cost you and how much, on average, you spend on living and leisure costs. Some say your rent should be between 30% and 50% of your income, but if your lifestyle means you’re over budget then something has to give. This either means making changes to your monthly spending habits or choosing a lower rent price range.
Check the area
The area you choose should be high on your list of importance. You’ll need to factor in travel costs and travel time when deciding where to rent, as well as ensuring the type of environment is right for you. Visit the area during the day and night to get an understanding of the noise levels and what local facilities are available.
Check your landlord
Ask your landlord about any queries you have, as well as checking the property is covered by landlord insurance. A good landlord will happily answer your questions and be happy that you’re being thorough.
Check the appliances
You don’t want to start your time in your new home with a broken oven, temperamental heating and water pressure that’s more of a trickle than a shower. So make sure you check these things before signing the contract. Turn the heating on at your viewing, check the water pressure in the shower and make sure the electrical appliances are working. Don’t feel intimidated or embarrassed to ask to do this during your viewings, be thorough because after all it is your home we’re talking about.
Read the contract
Lastly, but possibly the most important point, don’t sign anything without reading all the documentation. You could be agreeing to anything and once signed you’re legally obliged to comply with the contract. Look over any additional documents such as the inventory and deposit scheme to make sure you’re happy with what you’re signing. Don’t be afraid to comment on sections or ask for clarification before signing.
Take these tips and you’re sure to find the rental property that you can turn into your new home.
If you would like some assistance to find a property, please contact Right Letting Agents on 0845 026 8527 or visit our website.