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| A Renter's Guide |
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So, you’ve found a property to rent and you’re one step closer to becoming a tenant.
This tenant guide will provide you with the advice and information you need to secure the right property, deal with tenancy agreements and inventories and understand your rights and obligations as a tenant, whether you’re looking at studio apartments, flats or houses. Securing a property to rent, References, The deposit, The inventory, Tenancy agreements, Final inventory check
Having found a suitable house or flat to rent, what happens next? You should begin by putting down a holding deposit in order to state your intention to rent the property and get the property off the market. The letting agent will then begin the administrative process of requesting references from you and a full deposit. Back to top Your prospective new landlord will be keen to make sure that you are a suitable tenant and that you have the ability to pay your rent, while also making sure that you have rented a property without any major problems in the past (if this is applicable). If instructed, the letting agent will organise this, and at this point, they are likely to ask for the administration fee, along with your permission to conduct the relevant searches. Be aware that should you fail any of the necessary checks, you may not get your administrative fee back. Check with the letting agent before agreeing to hand over any cash or signing any forms.
In the event that the information highlights any potential of risk to the landlord, you may be asked to provide a guarantor. A guarantor will be contractually liable, both financially and legally, should you fail to pay the rent during your tenancy or in the event of damage to the property. Back to top The final event in your securing the property is the deposit. This is usually between one and two months’ rent and held for the duration of the tenancy. The deposit is a safety net for the landlord to guard against the cost of replacing or repairing property damaged by the renter. It is, however, the single most disputed area of the renting process. New legislation was introduced to the Housing Act 2004 in April 2007 to help protect all parties with regard to the return of deposits. A brief summary of the legislation can be found below: Tenancy deposit protection in summary
This is one of the most important documents in the renting process and can often be key in deciding how much of your deposit you get back at the end of your agreement. You should therefore be extremely thorough and give it your full attention, while taking the necessary precautions to protect your interests.
How is the inventory prepared?
The inventory is a simple list detailing every item contained within the property and the condition each listed item is in on the day you move in. This may be prepared by either the letting agent or the landlord. Either way, you should go round the property with the landlord or agent and agree the state of each item before signing anything. If necessary, take photographic evidence to give you extra protection and to avoid any unnecessary disagreement at a later stage. You will be expected to sign the inventory and initial every page, along with the landlord or letting agent.
When will the inventory be checked again?
It is not uncommon for landlords and letting agents to schedule in regular three monthly inventory checks at the property in order to assess any damage that may have occurred. Find out if there are regular checks planned and when they are likely to take place. It is most common, however, for a final inventory check the day you are scheduled to move out. Back to top
The tenancy agreement is a contract between you and the landlord. It specifies certain rights to both you and the landlord, such as your right to live in the home for the agreed term and your landlord’s right to receive rent for letting the property.
Assured Shorthold Tenancy agreement
Since the late 90’s, AST has been the most common form of tenancy agreement and sets out the duties of both tenant and landlord. The most important aspect of this agreement is that the landlord has the right to repossess the property at the end of the agreed term. Despite its name, the agreement does not have to be short and can continue as long as both parties are happy to do so. There is no minimum term specified either, although the renter has the right to remain in the property for at least six months.
If the fixed term is for three or more years, however, a deed must be drawn up and a solicitor employed to do so.
There are specific requirements linked to an AST that include:
The landlord is obliged to provide the tenant with two months’ notice if they want to terminate the agreement.
The agreement will most likely contain the following information:
You’ll have the opportunity to run through the inventory checklist on the day of departure. It’s important that this job is done before you leave the property to avoid you being accountable for any damage that occurs after you’ve left. If there is any damage, you should agree with the landlord the cost of repairing or replacing such items.
If an agreement cannot be reached as to the damage of particular items, which items have been damaged, or repair costs, then you should make sure you take photographs. Get your own repair cost estimates and write to the landlord with your findings and work towards a mutually agreeable solution.
If both you and the landlord are satisfied the property has been left in an acceptable state and you have made your final rental payment, there should be no problem getting your deposit back. Back to top
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