Moving into a new rental property can be an exciting time, but it is important to do it properly. Let’s take a look at some of the most essential early steps in the process to give you the best chance of finding the perfect home.
List your needs
What are your most important housing needs? Perhaps you need to be on the ground floor for mobility issues or a second bedroom for guests? Do you need a garden, a parking space, or a shower? Is it essential that there is space to store your bike or your buggy? There is no point in signing a year-long contract for a property that does not meet your needs.
Set your budget
How much can you afford? Remember that your rent should never be more than 30% of your overall income. It is wise to set two budgets: your ideal budget and an absolute maximum you can go to for a property that ticks every box. Setting a budget needs to be done in the context of your needs (above) and location (below), as there is normally some compromise to be made. You should also be aware of extra and upfront costs
Be area specific
When you start looking at your needs and budget, it may be that you can’t afford to live in your ideal location. Have a look at the other areas and think about what works for you. Do you need to be near a certain bus stop, or school, or train line? This doesn’t mean you have to pick one location; you can have multiple locations, but you might need to be specific within each one.
Use multiple channels
Make use of Rightmove and Zoopla. Sign up for alerts so you are among the first to know, for example, when a three-bed in Colliers Wood or a one-bed in Newcastle city centre becomes available. Register with multiple letting agents and find out what paperwork you need to have ready.
The great thing about renting is that there is far less bureaucracy than when you buy, when you might need to consult a law firm such as https://www.parachutelaw.co.uk/severance-of-joint-tenancy for services such as severance of joint tenancy.
Being specific about your needs, budget and location can save a lot of time. Remember that getting things right from the get-go will take away headaches later in the process.