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Tips for Tenants

Rental Costs

So, after all that searching you’ve finally found your dream home to rent. But before you sign your tenancy agreement there are some important things you need to discuss with your landlord – and the bank manager.

It is vital that you are clear about what you must pay for before you move in, and how much your monthly outgoings will be. If you agree to rent a property that is out of your price range then you may fall behind on the rent and leave yourself open to eviction.

Your new landlord will probably ask you to pay a deposit (or bond, as it is sometimes known), which is usually the equivalent of a month’s rent. It is important to ask your landlord whether this deposit is refundable and make sure you get a receipt for it, so it can be returned when you leave.

Along with the deposit, you may also have to pay the first month’s rent in advance and pay for connection fees for the phone, gas or electricity. If a tenant has recently moved out of the property then it may just be a case of putting the utility bills in your name, but you should ask the landlord about this before signing anything.

In addition, you should check exactly which bills you need to pay on top of your rent, and take out contents insurance to cover the cost of your possessions in case the house is burgled. There are plenty of insurance companies that offer this type of insurance for tenants, so make sure you shop around for best deal.

Once you’ve sorted out your insurance, got your first month’s rent and deposit together and made sure which bills you’ll need to pay, you’re ready to sign the tenancy agreement and move into your new home.

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