When you are renting a property, it’s important to find the most suitable home for you, even though you won’t own it. When you start your search for a rental property, type in all the keywords of features which you would like in your future home, like parking space or a garden.
You may also want to find out how long it will take you to travel from the property to frequent destinations, like friends and families’ homes, or work. By doing some research online, you can find out how much it will cost to run the property, and also how the area is rated in terms of crime, local schools and amenities.
Contact a few lettings agents and discuss your requirements. By getting to know the agents, you may have a chance of being notified of a property immediately. Be ready to sign up for a property as soon as possible, which will also mean paying a holding deposit. This amount varies, but will generally be the equivalent of one week’s rent. You will also need to produce some documents to the lettings agency, like a passport and proof of your current address, which could be a utility bill.
Do some research beforehand, so that you know what you will be expected to pay up front. You will have to pay a hefty deposit, which may be up to six weeks rent. You will also be expected to pay rent for the first month, so the amount you are paying out can be alarming.
For an alternative to renting a property, consider speaking to a CeMAP qualified mortgage advisor.
