Step 1
Register Your Interest
The first step is to call or visit local letting agents in the area you wish to move to and register on their rental database. Be prepared with everything you need: in particular the type of property you are looking for, number of bedrooms and your maximum budget.
Initially the registration process is very quick, but it’s important to be contactable at short notice when the right property comes up as if they’re desirable they’ll go very quickly. If you have been served notice by your current landlord or you have served notice to leave, be sure to tell the agent and give them the latest date you need to move out.
Step 2
Finding The Right Property
Sit down with a pen and paper and describe your ideal property. Most importantly, be strict with what you do and don’t want, and what you consider to be a deal breaker. Don’t compromise on those deal breakers or you’ll come to regret it.
It can be tempting to rush into the first property you see, however you’re better off taking you time to find the right property for you and your bank balance, even if it means taking slightly longer in the search. Budget should be a key factor in your property search. Don’t overstretch yourself financially, make sure you take into account all other costs involved, including bills, council tax, moving costs, agency fees etc. Your take home pay (of all tenants combined) should be at least 2.5x your proposed monthly rent, otherwise you may not pass referencing on your income level.
Step 3
Register Your Interest
An assured shorthold tenancy agreement is issued for either 6 or 12 months. However, if you’re waiting for the purchase of a property to go through or you’re relocating for work for a short time, you may want to consider a short let.
Periods available can be anything from a month to 5 months however the rent you’ll pay for these lets are significantly higher as a result.
Step 4
Managed Properties
Properties will either be managed by the agent or the landlord. As with anything there are good and bad agents and landlords but the improvements to industry regulation and codes of practice that estate agents should abide by means that good practice should be the norm rather than the exception.
Compulsory Landlord Registration is slowly coming into legislation making private landlords more accountable and to try to curb rogue landlords but this is not yet commonplace.
Step 5
Holding Deposits
So you’ve found a property and you’d like to put down a holding deposit. From now on, if you pull out on the deal or you fail your referencing checks for any reason, chances are you’ll forfeit your deposit.
Some agencies use these to pay your referencing fees and other costs, other agencies will offset the entire holding deposit against your first months fees, and you’ll pay your costs on top. More information on fees in the next step.
