Everybody wants to have their own space, and renting is one of the easiest and cheapest ways to have a place you can call your own. However, before you start looking for a place to rent, you have to do several things.
When it’s your first time renting, you may think that you have to make a choice and sign a contract immediately. But, you should not feel forced into making a decision where you do not fully understand the terms and conditions you agree to. If you want to know more, you can go ahead and scroll below.
Two Ways to Rent A Property
There are two ways for you to rent a property. The first is to rent directly from the landlord. Alternatively, you can find a letting agent in Edinburgh, or one elsewhere that is more relevant to you, and rent through them. Either way, you must watch out for scams. Ensure that you are handing money over to the right people.
Renting Direct from the Landlord
When you choose to rent property directly from the landlord, you have to look for landlords who belong to an accreditation scheme. Why? Because accreditation schemes give landlords the training and support needed to fulfil their legal and ethical responsibilities.
You can ask your local authority about the available accreditation schemes in your area.
Renting Through A Letting Agent
If you choose to rent through a letting agent, make sure that they are members of a redress scheme. In addition, check if they are a part of a client money protection scheme, especially since they will be receiving money or rent payments from you.
Several professional bodies accredit reputable agents. You can check ARLA Propertymark, GPP, Safeagent, RICS or UKALA for more information.
Important Questions to Ask
Once you have chosen whether to rent direct from the landlord or through a letting agent, there are nine critical questions you have to ask before signing any contract. Let’s check each one below.
Are There Any Charges or Fees?
Viewing fees and tenancy set-up fees are not allowed. However, reserving a property is permitted with a refundable charge worth less than a week’s rent. Make sure to ask the landlord or the letting agent for any fees that may apply when looking for a place to rent.
How Much Is The Deposit?
The deposit is often refundable at the end of the tenancy, provided that you will return the property in good condition. On average, if the total annual rent is less than £50,000, the maximum deposit will be equivalent to 5 weeks’ rent. But, if the annual rent is higher, the maximum will be equal to 6 weeks’ rent.
How Long Will You Be Renting?
The most common length of stay is a minimum of six months, but most landlords offer a fixed term or six or twelve months. However, if you plan on staying longer, you can negotiate to have a longer tenancy. In addition, you can work out a living arrangement that rolls over either on a weekly or monthly basis.
How Much Is Your Budget?
On average, your rent should be equal to or less than 35% of your take-home pay. So make sure to have a budget first before going on to check out various places so you can also save on time and effort.
Housing Benefit or Universal Credit?
If you are renting from a private landlord, you can check out the Local Housing Allowance (LHA) rate to help cover the cost of the rent. You can also check out what options are available for you under Universal Credit.
Do You Already Have An Area In Mind?
If you plan on staying in a larger area, there is a higher chance of finding a place that will suit your budget and needs.
Are Your Documents Ready?
All landlords and letting agents will need to confirm several of your personal information. They will have to check your identity, credit history, employment and immigration status if necessary. Therefore, make sure to prepare these documents ahead of time if they are requested.
Do You Have The Right To Rent?
Landlords must assess if those inquiring are aged 18 or over. This is done before the start date of the tenancy agreement, and there are two types of right-to-rent check; a manual or document-based check, or they can do it through the Home Office online checking service.
Do You Need A Rent Guarantor?
Some landlords might ask someone to guarantee your rent. If they ask this and do not have a guarantor, you can ask Shelter for advice.
Final Thoughts
Nowadays, searching for a place to rent is more accessible because many letting agents provide an online screening service for prospective tenants to help you find the ideal property based on your requirements.
In addition, they include pertinent but often neglected details such as the number of bedrooms required, your estimated move-in date and more.
So when you are looking for a letting agent, make sure to find a team who is efficient and experienced to get the property that is right for your needs and budget.