When you rent for the first time, you need to consider a lot of things. There are fees, agreements and rules – it is quite a struggle to get what are the legal requirements here, how they change be different landlords, and what security measures are in place to protect you as a tenant.
Moving is always tough and stressful, and we are able to help you to make clear what fees you will have to pay. All you need is to get your things and move in without any fuss!
The major and biggest upfront payment is your monthly rent and deposit (usually 6 weeks rent). If you go under Short-Term Rental Insurance, the landlord is obliged to put your deposit into a deposit protection scheme. If they fail to do this within 30 days period after you move in, you should contact the Property Ombudsman to find out what steps to take next.
A letting agent may ask you to pay a holding deposit. This is not an extra charge. If you decide to terminate the property tenancy agreement before moving-in, it will not be refunded.
Letting agents can also charge you with their extra fees. You’d better get to know what it includes and to clear up all questions you do not understand. The letting agent payment generally includes:
• Reference proof. They may approach your previous landlord (to proof you paid the rent on time, etc.) and your employer (to proof you have a steady income).
• Credit checks. They enquire about your past financial status.
• Agreement drafting.
• Professional cleaning. It is usually paid at the beginning of your rent or at the end. Examine your agreement carefully for more details.
These are the major fees that you will face. Though there are extra charges associated, for example, a pet deposit/fee or a payment for additional tenants in a single room.
