Things You Need To Know

Deposits

There’s much more information on this topic in a later lesson, but as a rule of thumb, most agents/private landlords will want at least a month’s rent to hold against damages. Many will ask for the equivalent of six weeks’ rent. This should be held for you (and always remains your money) until the end of the tenancy. This is a big topic and one about which you’ll find a whole lesson later in the guide.

Advance Rent

All landlords and their agents expect tenants to pay for their accommodation in advance. Usually the required amount is a month (or four weeks’ rent) and rent needs to stay in advance at all times to satisfy your lease.

How Is It Valued?

The biggest inclusion of all here is location, which can add or subtract huge sums to or from the rent. It’s a simple fact that there is now property right across the range and to suit all pockets. The less you have to spend, the further you’ll walk to the shops. Know what you are looking for, and where you can afford, because careless mistakes can haunt you in the lettings game.

What’s Included In The Rent

Rent is just that – unless it specifically provides for inclusions (which should be clearly stated). Rent does not include council tax, water rates or TV licence and it certainly won’t usually include electricity or gas costs.

Facilities

When trying to work out what seems a reasonable rent, take into account what is being included. And make sure that you learn the shorthand. P/F means part furnished; C/H means central heating; S/C means self contained.

U/F

Unfurnished accommodation is for the serious renter and provides nothing but the building, facilities (kitchen/bathroom) and a heating system. It may include carpets. It is expensive to equip and, unless you have a number of personal possessions, this is probably not for you. Unfurnished is also a real rarity – there are historic reasons for this that I won’t bore you with. If renting U/F look for a long initial ‘fixed term’ – it simply isn’t cost effective to move in and out of this type of unit twice a year.

P/F

Many, many properties are offered part-furnished (P/F), which usually means carpets, curtains, cooker, fridge. Some landlords and many agents prefer it because there are strict requirements on the safety of supplied beds, sofas, etc in furnished units (which will be detailed later in Lesson 2). Again, it takes a great deal of money to equip these units and the P/F rent can often look attractive because less is being offered. That can make P/F much less cost effective in the long run, whereas fully furnished (F/F) will cost a little more. Always make sure you that are comparing like with like when doing your research.

F/F

F/F means fully furnished and should include all furniture, carpets, beds, curtains, etc that you need to live comfortably, but won’t usually include items like crockery, bed linen and small kitchen appliances like kettles and toasters. This is by far the most common type of rental. It’s a hugely popular arrangement and the most widely offered because moving in and out is cheap and yet tenants can ‘personalise’ a bit.

Note

If you choose to take a furnished unit, and then want it unfurnished so that you can take your own furniture, it can actually cost you more, because you will have to pay for removal and storage of your landlord’s belongings. Check the cost implications of this before you arrange it.