TIPS FOR FIRST-TIME RENTERS – A guide from a real estate expert Renting an apartment or house may seem daunting, but renters could outgrow homeowners by 2039, as per predictions. It is obvious that renting is gaining popularity with urban professionals who may be looking for modern and urban living options at a ordable rates.
Here are a few tips and information to get you started Landlords and agents are not
Consider your financial situation and
allowed to levy viewing fees or
figure out your budget. Search for
tenancy setup fees.
options accordingly.
The deposit has been capped at 5-6
Keep documents ready to show
weeks of rent, and it is refundable
credit history, employment status,
when the tenancy period ends,
immigration status, identity, etc.
provided the property has been returned in good condition and well protected.
Some landlords may ask for someone to vouch for you and guarantee rent.
The minimum tenancy period is six months. Any extension of the period can be mutually agreed upon and applied.
How to find a property? Once you know how much you can a ord to pay as monthly rent, look for ideal locations and property sizes based on your preference for proximity to close family and friends, transport networks, cities, or towns. You can either rent directly from a landlord or through a letting agent. A good real estate agent like Glentree will ensure a stress and hassle-free experience.
What to watch out for while viewing a property? When you view properties, check on the following: Exteriors for damaged bricks, poorly maintained windows, cracks, etc.
Before deciding, you could opt to view the
Room sizes to check if it would suit your requirements.
requirements. Some rentals may be
Fixtures and fittings like lights, taps, cupboards, doors, etc.
are a first-time renter to avoid the extra
Security, like if the locks and alarms are working properly.
for your space. These usually include basic
Wi-Fi and phone connectivity. Noises around. Storage facilities.
property once again to ensure it suits your furnished, which could be beneficial if you expenses of purchasing everything required furniture like beds, wardrobes, dining table and chairs, sofas, and white goods (fridge, washing machine, microwave, etc.).
What are the requirements to rent a property? You will have to give proof that you can afford the rent, for which you may be required to submit documents, and checks may be done to check your credibility. The landlord or letting agent may check some or all of the following:
References from an employer or previous landlord, if applicable
Payslips as proof of income
Tax returns for selfemployed people
Additionally, a credit check will be done on you. In case you are not able to give proof of income or your credit history is bad, it may be difficult for you to secure a property.
What are the bills to pay? Council tax Gas, electricity Water, sewerage Phone, Wi-Fi Maintenance Some rental options may have ‘all bills included’ rent. Be sure to check what this entails. Glentree, an experienced real estate agent, can assist in finding the best rentals.
Bank statements
Identity proof
Proof of your right to rent
Please feel free to contact us at Glentree Estates, if you are interested in purchasing or renting a property in the United Kingdom.
Sales Team
0208 458 7311
[email protected]
Glentree Estates, 698 Finchley Rd, London NW11 7NE, United Kingdom
