First-Time Tenant Guide to Renting with Premier Locations
At Premier Locations, we have extensive knowledge of the lettings market and have compiled an Eight-Stage Guide to Renting, consisting of downloadable resources for tenants.
These guides provide comprehensive information to assist you in every step of the process, from finding and securing your new home to understanding the intricacies of a tenancy agreement.
- Prepare Your Finances
- Find the Right Property
- Arrange Viewings and Considerations
- Applying for Tenancy
- Ensuring Safety and Protection
- Moving In
- Living in Your New Property
- Moving Out
Step 1: Ensure Your Finances Are Prepared
Renting involves various financial considerations, so it’s crucial to be prepared.
In addition to your weekly or monthly rent, there are other costs to factor into your budget when renting.
In 2020, the Tenant Fees Act 2019 came into full effect, resulting in the elimination of many fees previously paid by tenants. However, there are still some upfront costs associated with renting a property, including:
- Holding Deposit (equivalent to one week’s rent)
- Tenancy Security Deposit (equivalent to five weeks’ rent for rents under £50,000 per annum and six weeks’ rent for rents above this) – unless you opt for a deposit-free rental
- First month’s rent
Questions to Consider Before Beginning Your Property Search:
- What is your desired tenancy length?
- Consider your budget, including additional costs such as utilities and taxes. You can determine affordability on the Money Advice Service website.
- Ensure you have necessary documents readily available, including identification, immigration status, and proof of address (dated within the last three months).
Step 2: Finding the Right Property with Premier Locations
As a tenant, selecting a trustworthy landlord or letting agent is crucial, as renting a home entails a significant and long-term commitment. Premier Locations boasts a network of over 200 branches whose agents are trained through The Premier Locations Training Academy, endorsed by the Association of Residential Letting Agents (ARLA PropertyMark). This ensures that our agents adhere to strict standards of professionalism and ethical conduct. Additionally, most of our branches are voluntary members of safeagent (formerly NALS) and ARLA, providing further assurance of being in capable hands.
Determining Your Budget:
- Agents typically have income criteria as part of their referencing process.
- Multiplying the monthly rent by 30 can provide an approximate guide to the required annual salary for affordability.
- Sharing a property with others may make it more affordable, even if it initially seems beyond your budget.
When Do You Plan to Move In?
- Properties are often available for viewing approximately six to eight weeks before they are ready for occupancy, so plan accordingly.
- Initiate your property search as early as possible, up to eight weeks in advance.
- Agents usually register you as an applicant and keep you informed of new properties during this period.
Finding the Ideal Rental:
- Utilize our property search tool to filter properties based on your requirements.
- Adjust filters and utilize advanced features to refine your search.
- Register as a tenant with your local office to receive property alerts and stay informed about new listings.
- Sign up for My Premier Locations to save properties for future reference and track the progress of your rental process.
Commencing Viewings:
- Act swiftly to secure properties of interest as the rental market moves quickly.
- Schedule viewings promptly and consider viewing multiple properties in quick succession for easier decision-making.
Asking the Right Questions:
- Evaluate space, parking availability, decor, amenities, and property management responsibilities.
- Inquire about potential works or modifications before occupancy to make an informed decision.
Premier Locations Top Tip for Securing a Property:
- Upon finding the right property, place a holding deposit equal to one week’s rent to demonstrate your intent and goodwill.
Step 3: Commencing Viewings
- Take prompt action to arrange viewings for properties of interest.
- Ask pertinent questions during viewings to assess suitability and make informed decisions.
Step 4: Ensuring Safety and Protection in Your Rental Property with Premier Locations
Prioritizing Safety
Selecting a reputable landlord or letting agent, particularly those affiliated with accreditation schemes like ARLA or safeagent, ensures adherence to the latest lettings industry legislation. These professionals keep landlords updated on their legal responsibilities, including property safety standards and annual safety checks conducted by approved contractors. Tenants’ safety is paramount, and agents ensure compliance with legal obligations to maintain a secure living environment.
Understanding Insurance
Tenants’ insurance is often overlooked but crucial. Everyone’s belongings and liability are equally significant, making insurance essential. Agents provide valuable information about available insurance options to safeguard tenants’ interests.
Step 5: Moving In with Premier Locations
Upon the scheduled move-in date, several essential steps must be completed before receiving the keys:
- All tenants/guarantors must sign the Tenancy Agreement, often facilitated electronically by many branches.
- Move-in funds, including the first month’s rent and deposit, must be paid and cleared.
- Required documents, such as photo ID, Right to Rent documents (England only), proof of recent residency, and insurance confirmation, should be provided to the branch.
Information Provided by the Agent
Upon completion of formalities, the agent furnishes tenants with essential documents, including the Tenancy Agreement, contact details for ongoing communication, Gas Safety Certificate, EPC, and relevant guides. Additionally, tenants receive guidance on setting up monthly rent payments via standing order and collecting keys from the local branch or scheduled check-in appointment.
Understanding the Inventory
A detailed inventory listing property contents and condition at the tenancy’s onset minimizes disputes at its conclusion. Tenants should carefully review the inventory before signing to ensure accuracy and address any discrepancies promptly.
Utility Responsibilities
Tenants are responsible for utility bills, ensuring timely payments and accurate meter readings. While some offices assist with utility transfers, tenants should promptly contact suppliers to avoid disruptions.
Insurance Considerations
Tenants should consider insurance to protect their belongings and liability, with agents offering insights into available options.
Premier Locations’ Post-Move-In Tip
Maintain a comprehensive file containing essential documents and contact information for easy reference during the tenancy.
Step 6: Living in Your New Property with Premier Locations
Property Maintenance
For properties managed by agents, tenants are advised on maintenance protocols and reporting procedures. Regular property inspections ensure compliance with upkeep standards.
Rent Payment
Timely rent payment, as per the tenancy agreement terms, is crucial. Communication with landlords or agents regarding any payment issues is encouraged to prevent escalations.
Property Inspections
Regular property visits conducted by agents or landlords ensure property upkeep and provide an opportunity for tenants to address concerns.
End-of-Tenancy Procedures
Agents or landlords communicate with tenants near the contract end to discuss renewal or termination options. Clear communication and timely notice facilitate smooth transitions.
Remaining in the Property
Advance notice of intent to vacate aids in planning end-of-tenancy procedures, including property cleaning and restoration to its original condition. Referral services for cleaning assistance are available upon request.
Step 7: Moving Out of the Property with Premier Locations
Providing Notice
It is advisable to inform us at least 1 month before the fixed term’s end (or give 2 months’ notice for rolling/periodic tenancies) if you intend to move out. For properties managed by us, we will schedule a check-out appointment to ensure compliance with deposit legislation. If the landlord manages the property, direct communication is necessary to arrange the check-out.
Deposit Refund Process
Upon confirming your move-out, ensuring the property’s good condition is crucial to receive the full deposit back, with fair wear and tear excepted. We provide written confirmation of requirements and tips to facilitate this process. Assuming no deductions or disputes, your deposit should be returned within ten days, as stipulated in the tenancy agreement.
Premier Locations’ Tip
Ensure the property is thoroughly cleaned, including carpets, windows, walls, and furniture. Tidying the garden, removing rubbish, returning keys, retrieving belongings, updating energy suppliers, water companies, and council tax authorities about the move, and settling final bills are essential steps for a smooth transition. Hiring a professional cleaner may be convenient for achieving cleanliness standards.