I’ve been a renter for the past eight years and I would like to think that in that time I have learned a lot about renting. Compared to when I first moved into a rental home, I am now far more clued up about the process.
Renting a home isn’t always as simple and straightforward as you might think – there’s a lot more to think about than you would realise. It’s not just a case of finding somewhere that you love and is in the right location for you, it’s also about the finer details.
Before you start to rent a house, there are a few key things that I really think you should know… These are all things that I really wish I had known beforehand!
For everything that you need to know, read on…
Don’t make the fatal mistake of only thinking about covering the cost of the rent. This is a mistake I made when I first moved out – I didn’t account for my monthly bills properly and as a result, I ended up in debt. This isn’t a mistake that you want to make as it can have long-term repercussions.
Ensure that when it comes to your finances, that you are aware of what you need each month to actually thrive and not just survive. In addition to setting aside money for bills, it is important to also set aside funds for food. If you struggle to manage your spending, open three bank accounts: one to put rent money in, one for bills money, and one for food and living money. That way, you won’t accidentally overspend and dip into your rent or bills money.
Be clear on what your rental home comes with
Okay, so every rental agreement is different, so it is important to be clear from the get-go about what your rental property includes. So when you viewed it, you saw a fridge, washing machine, and oven, but does that mean the ‘white goods’ are included? The answer: it depends. You need to ask what the property comes with.
For instance, my first flat came with fridge, freezer, cooker, washing machine and was partly furnished, so it had a bed, coffee table, sofa, and crockery. However, my second rental property was unfurnished and only came with the oven. It always pays to ask what is included, to ensure that it’s the right property for you.
Understand who is responsible for what
So, I never realised that the landlord has certain responsibilities, such as if something that he provided broke down, it was his job to fix it. So, in my first property, our boiler broke down and I wasn’t sure who was responsible for fixing it. Luckily, my tenancy agreement showed that my landlord waws responsible for repairing oil boilers within the block of flats, and that he needed to source boiler repair Leeds, to fix the issue.
While it all worked out fine and I didn’t have to pay a penny, it would have been far less stressful if I had known that the landlord was responsible from the start. That’s why it is worth taking the time to ensure that you properly understand your tenancy agreement and who is responsible for each area of the home you are renting.
So there you have it, everything that you should know about renting a home.