This week we have the final instalment of the four principle areas of property activity, Selling, Buying, Letting, and Renting a property.
This week our thoughts and comments are aimed at those seeking to Rent a property and make their home.
For many, this is the first step into the residential property market, for others it’s a temporary place to live because of work or other commitments, but for lots of people it’s their permanent home for the foreseeable future
Historically, (and not really that long ago), rental properties were offered fully furnished (down the teaspoons!) and simply ready to occupy. Some of the legislation even differentiated between furnished and unfurnished properties.
These days the vast majority of rental properties are offered unfurnished, (which really means they have carpets, curtains, a fridge, a cooker, and often a washing machine), so are still ready to move into, as long as you have, a bed, a table, chair(s), and of course some cutlery!
Tenants are usually offered an Assured Shorthold Tenancy (AST) for a set period, which is often extendable by agreement between the Landlord and the Tenant. During that time, the Tenant(s) will enjoy peaceful and exclusive occupation of the property, provided of course that the landlord enjoys receiving the rent on time!
Many Landlords, (we would say the sensible ones!), offer their property through local, well established, and knowledgeable agents, and keen prospective tenants need to be prepared in advance before meeting those lovely agents because they will want lots of information!
Proof of identity and address are of course essential, and depending on the circumstances, agents will often also ask for employment details and character references.
Having your passport (or similar photo ID), a utility bill and a wage slip handy will be a great start when starting the process of applying for a rental property.
You should also be asked to fill in a tenancy application form, which will go further in asking about lifestyle, children, pets, (and more!). If applicable you may also be asked to provide details for a guarantor.
The agent will carry out confidential credit and ‘right to rent’ checks, and obtain references from employers and previous landlords.
Our best advice to prospective tenants (as soon as you decide to embark on renting) is to get yourself (and the various bit of information outlined above) ready!
Quite often when a new rental home is offered to rent, there are lots of applicants, and being well prepared could just make the difference!!
Please get in touch, or pop into any of our offices, and we will happily help you get on the right track and maybe even pre-qualified!
Next week we might talk about the really busy local market, the number of new listings, the volume of Sales and Lettings going through, or perhaps where we might be heading at 6 o’clock on the 4th of July (when the pubs open again!).
The new normal is still tricky, so keep taking care and staying safe, even when some folk aren’t!!