Finding the Right Rental Property

What are your requirements?

The first step in the process of finding a suitable rental property is to be sure that you know exactly what you are looking for. Some considerations might include:

Location? Does your job, proximity to relatives etc need you to be located in a particular area?
What sort property are you looking for? Flat, house, studio, room?
What amenities do you need?
How long a tenancy period do you need?
Do you need a furnished or unfurnished property?
How many bedrooms, bathrooms, reception rooms do you need?
Is there off-street parking or sufficient on-street parking for your needs?
Do you need a garden?
Do you have pets, and are they likely to be allowed?
What is your budget? When setting your budget think about the following:
- Set yourself a manageable budget and stick to it.
- Make sure that you understand what the agent is telling you - is it a weekly rental price or a monthly rental price.
- Don't forget that a £400 a week rental price does not mean a cost of £1,600 a month. You have got to multiply the weekly rent by 4.33 to get your monthly rental costs.
- Do not be tempted to look at properties that you cannot afford.

Finding the Right Property Agent

When you are looking for a rental property to live in, your obvious choice is the use a rental property agent. This is without doubt he quickest and easiest way for you to find the right property for you. If you choose the wrong agent, you could waste a lot of time and sometimes money. The rental property agents role is to act as a go between to help you and landlords get together - so choosing the right one is important. Here are some of the things you should think about before making your choice:

Do they provide on line access to their list of current properties for rent listed on line. You will find it quicker and easier to search through all their properties and compare them. You will also save time because you will be able to sift out unsuitable properties.
Keep in contact with the agents because rental properties in this area usually get snapped up quickly - especially if it a desirable property.
Keep yourself in the memory of the agent , this will show that you are a serious prospective tenant.
Make sure that your agent understands what your property requirements are and where you are or are not prepared top compromise.
Don't waste time looking at properties that are not appropriate, out of your budget range, or that you don't intend to rent, the agent will not take you seriously.
Don't pay an agent just to hold your name. A reputable agent should only charge a fee when you actually sign a tenancy agreement for a property.
Always ask what the charges are going to be before you proceed with a agent - there should be no hidden charges.
After you have looked at a property, give your agent feedback. This will help them look for the right property for you.

There are some key questions to ask when you view a property:

Look at the condition of the property. Has it been well maintained? This will give you an idea about the kind of landlord letting the property.
Ask how long the property has been on the market - you never know there may be room for negotiation if a property has been empty for a while.

Once you have found the right property to rent:

Your first move should be to put down a holding deposit to show you are serious, but more importantly to get the property off the market.
The agent should then begin the process of requesting references from you and a full deposit.

References

The landlord will want to know that you are a suitable tenant and can pay your rent.
He may want to make sure that, if you have rented a property before, there were no problems. At this stage they may ask you for the administration fee, as well as getting your permission to carry out the relevant searches.
You should note that if you fail any of the necessary checks, you may not get your administrative fee back. It is therefore wise to ask the agent about this before handing over any money or signing any forms.

The agent may ask for some or all of the following documents:

References from previous landlords – it is quite possible that you will be asked for details of where you have lived within the last 3 years.
Most reputable agents will conduct a credit check – here they are looking to see that you have a good history of paying your bills
Your bank details – including bank name, account number and sort-code
Details of your job, including who your employer is,what your job title is, payroll number, salary, previous employer, etc.
If the agent feels that this information highlights any risk to the landlord, you may be asked to provide a guarantor.
You should fully understand that a guarantor is contractually liable, both financially and legally, if you default on your rent or in the event of damage to the property.