Renting for the first time can be overwhelming but with these few tips you’ll feel more at ease and knowledgeable about the process.
Know How Much Money You Need to Pay Up Front
Landlords tend to require a month’s rent up front, this usually includes a security deposit as well. Some landlords also want you to pay an application fee when applying as a potential renter, so keep that in mind.
Put Your Roommate On The Lease
Planning to rent with a roommate? To maintain a healthy relationship, you need to have trust in your roommate, they should deal with the financial burden of renting as well.
Your roommate should have their name on the lease and should share equal responsibility of delivering rent on time.
Having an unlisted roommate can cause many issues in your relationship with each other, have an in-depth discussion on living together and finances before signing anything.
Know What Furniture Your Rental Needs
You need to know if your rental will already have furnishings and what you are allowed to change. If you know what furniture you need to purchase, it’ll help you budget your finances better.
Ask for a tour of the rental beforehand and make sure you ask questions about the furniture – take notes and photos to help you remember.
Take note of what you are allowed to change, are you allowed to repaint? Hang pictures? Make sure you get all the information needed.
Know The Terms Of Your Lease
Leases can be tricky and if not worded properly can cause some uncertainty. Make sure you have a proper discussion with your landlord and roommate to talk over the terms.
You should ask your landlord things like, are utilities included in the rent price? When is the rent due? What about lease cancellations in the event of an emergency?
Gathering as much information on your lease will ensure you don’t get caught out and you know what you’re getting into.
If you’re really unsure talk to an independent professional who can advise you and give you a clear plan.
We hope these tips will give you some idea of what you need to consider when first time renting.
If you need to discuss renting a property in Hampstead or Highgate, do feel free to get in touch with us here.