Renting can be a tricky old thing. With such a big decision, you have to consider many different factors. If you feel like you have no clue, don’t worry, and let me help you out. Below, I’ve compiled some of the more important issues surrounding the world of property renting.
Pros and More Pros
First, you need to ask yourself whether it’s the right move. You have to determine that renting is going to be a better option than actually buying the house or flat.
- Move Out on Your Terms – When you are renting, you can usually up and leave whenever you feel like it. Just heave all of your random stuff into the boot of your car and hit the road. This is a lot more difficult when you have a mortgage and actually own the property.
- All Costs, One Roof – When you own the house, you have to deal with all the costs. You have to pay for the bills, the tax, the building maintenance etc. When you rent you sometimes get some of these bundled in with the rent cost. This means that you are actually saving yourself a fortune.
- Talking of Maintenance Costs… – When a pipe burst or some other household emergency, your landlord has to deal with it, not you. If you own the house, guess whose job it is to deal with it? Yep.
There’s the basic list of pros when it comes to renting.
Where to Rent
You have to look around for great places to rent. There are many options open to you. You can go to an estate agent, look online at a property website or even check out Gumtree as people sometimes post really nice rented accommodation on the site. It’s a way or renting that is growing in popularity.
Your Costs
When you own a house, you’re pretty much paying for the same things as when you are renting, it’s just that the landlord might take some of the burden off of you. Here’s a list of the major expenses you should be expecting.
- Rent (obviously)
- Council Tax
- Bills
o Water
o Gas
o Electric
- TV Licence (if of course you are watching live TV at all)
- And the one-time payment of a deposit, which you will get back at the end of the renting period.
For the Gas and Electric you should be paying between £25 and £50+ for gas and £30 to £40+ for electric.
And Lastly: The Tenancy Agreement
No, not David Tenant. This is an agreement between you and the landlord that lays out on the table various aspects of the renting situation. Its main job is to sort out renting. Here’s a link that will take you to a place that will answer all of your questions about the tenancy agreement.
If you’re confused then why not seek out a landlord that you wouldn’t be interested in renting from, or perhaps a renting agency or estate agency and discuss with them the world of renting. They will be able to help you out really easily. And should answer any questions you have.
