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stcolin

Newbie Rental Questions

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Hi all,

Following on from my good deal thread, renting my become the reality here.

The one main gripe I have with rentings is that it may never feel like home. We know we can furnish, but how far can we go. I have a few questions, I hope you can help me answer them.

1) The term. Most ads seem to state 6/12 month minimum, even 6 months max. Say we move in and really like the place, can we extend the rental term, and for how long can we usually do this? Ever 12 months say?

2) Furnishing. I'll assume most owners wont allow us to fit the like of shelves etc were we would essentially temper with the building?

3) The cost. I know most quote including local rates. But the cost itself, does it get reviewed every 12 months, and with the current interest rate forecast, how likey is a large jump in monthly cost?

Thanks

Colin

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1. standard contract is not 6 months but in fact 12 months and it's ususally a rolling contract....6 months is not common

2. If you furnish then you have to leave the house/flat in the same state you found it....i.e. taking down shelving etc..

3. cost gets reviewed every 12 months - I personally negotiated a reduction in rent this contract :P

4. Do NOT presign a section 12 notice in any contract. It'll be in there in the small print....don't sign it. You won't have a leg to stand on if you do and the LL wants to sell...if you presign it then you will be given very little notice to leave. Go for a standard tennancy agreement if you can with the letting agent LL

5. Make sure ALL your deposit is held in a certified deposit protection scheme...ask which one it is going into. It is now law to put your deposit into one so make sure it is.

6. Take a camera and when you get the keys....photograph EVERYTHING and send a sealed envelope to the letting agent/LL with a copy of the DVD with th pics to ensure you don't get hit with crap when you move out

anything else....just ask me ;)

Edited by subby

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no...nothing wrong about it :)

I was the first to move in to my landlord subsidised house :) been there now just over a year and just started another 12 month contract with a view to maybe buying next summer :D

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The one main gripe I have with rentings is that it may never feel like home.

It looks to me that you are in a strong position as a first-time buyer. You will likely be in an even stronger position in 12 months. Renting is only going to be temporary for you both while the market corrects.

People worry that the mortgage "deals" available today will not be available in 12 months. That means that house prices will have to correct according to the mortgage "deals" that are available in 12 months time. As this will likely mean lower house prices and therefore taking on less long term mortgage debt, surely this can only be a good thing!

There will come a time when house prices are nearing the bottom. When this happens then you can consider rent to be 'dead money'. Personally, I am looking at the annual percentage fall to indicate when we are nearing the bottom i.e. the average falls over the last 12 month. I think that the annual percentage fall needs to be below 4% before it makes financial sense to move from renting to buying property. Anyone else think this will be a good indicator? And what percentage annual fall would be a good indicator for you to consider buying a property?

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4. Do NOT presign a section 12 notice in any contract. It'll be in there in the small print....don't sign it. You won't have a leg to stand on if you do and the LL wants to sell...if you presign it then you will be given very little notice to leave. Go for a standard tennancy agreement if you can with the letting agent LL

5. Make sure ALL your deposit is held in a certified deposit protection scheme...ask which one it is going into. It is now law to put your deposit into one so make sure it is.

anything else....just ask me ;)

Section 12 in Northern Ireland, when did this become law?

Deposit protection scheme in Northern Ireland, when did this become law?

Any links to the above changes to the law for NI?

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was a typo - section 21 notice and not 12 - http://www.tenancyagreementservice.co.uk/s...ice-to-quit.htm this is mainland uk link. I use this page to get info...I'll look for any NI links

Are DPS not legally binding now to every contract signed? I was of the opinion it was. The rental boards on here in the renting forum think the same....however the NI law is a different entity to mainland UK law so possibly might not be 100% but I'm fairly sure that it is compulsory now for LL/LA's to deposit the money into one of them.

Edited by subby

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was a typo - section 21 notice and not 12 - http://www.tenancyagreementservice.co.uk/s...ice-to-quit.htm this is mainland uk link. I use this page to get info...I'll look for any NI links

Are DPS not legally binding now to every contract signed? I was of the opinion it was. The rental boards on here in the renting forum think the same....however the NI law is a different entity to mainland UK law so possibly might not be 100% but I'm fairly sure that it is compulsory now for LL/LA's to deposit the money into one of them.

"however the NI law is a different entity to mainland UK law"

There's your answer.

Notice of 28 day must be put in writing. However if the tenancy agreement has been broken, ie no rent paid, nuisance tenants, putting a shelf up without asking in writing. Landlord pays £17 gets a possession order in 7 days, you'll be given a date to be evicted and you'll foot the bill.

D.P.S. is there to tie up the tenants deposit for longer after the tenant has left the property allowing the landlord to find any faults he missed initially. The landlord and tenant have to sign a release form to have the deposit returned, if your landlord doesn't want to play ball you could be chasing the deposit for months. Hope your deposit isn't in one of these.

It is not law over here.

Edited by statinstoinker

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Hi all,

Well after everything we recently went through, we are now going to be renting. Have picked a few places now, all we need to do is go and view them, and hopefully we'll move in soon to one of them.

Still anxious about a 12 month contract. We don't want to be in a place for 12 months then get the boot after that. Especially if we like the place.

Maybe someone here can put me at ease....

Cheers

Colin

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youll be doing well to find somewhere that's offering a decent rental price for less than a 12 month contract.

try to get a landlord directly and save on fees for stupid things like reference checks etc...that letting agents charge for.

Don't pay more than 1 months rent as a deposit as anyone asking for more than 1 month is probably in financial hardship....

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Thanks subby.

Most terms on the likes of propertynews/propertypal are quoting 6/12 month.

In terms of letting fees, what are the average costs? We know to expect a deposit and one months rent in advance.

Thanks

Colin

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Thanks subby.

Most terms on the likes of propertynews/propertypal are quoting 6/12 month.

In terms of letting fees, what are the average costs? We know to expect a deposit and one months rent in advance.

Thanks

Colin

for each person staying in the property expect to pay at least £25 per person for credit checks. If you go to renew any contract they can charge an "admin" fee which is just a way of them being robbing b*****ds so check small print

as posted above.....

6. Take a camera and when you get the keys....photograph EVERYTHING and send a sealed envelope to the letting agent/LL with a copy of the DVD with th pics to ensure you don't get hit with crap when you move out

can't state this enough ;)

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youll be doing well to find somewhere that's offering a decent rental price for less than a 12 month contract.

try to get a landlord directly and save on fees for stupid things like reference checks etc...that letting agents charge for.

Don't pay more than 1 months rent as a deposit as anyone asking for more than 1 month is probably in financial hardship....

In most cases and in the final choice I made, LLs were prepared to offer a 6mth or at least some sort of break clause. And also in my case as a LL. It is a bit of a pis*er because 6 mths spreading the cost of the 1 mths rent fee to the EA does double the monthly 'cost of sales'. Luckily my tennant decided to stay on, and it was at much relief against having to goto the evil EAs again. However in their defence they did get me a high quality client, which is what they promised. Gumtree just got what seem to be scammers pretenting to have interest.

I would also note that when an EA does the job they take all the initial money from the client and take out their fees. This feels like there is now no deposit. If there was a scheme requirement here, the LL would have to fork out for it as he will have to do when the tennent gives notice. Not saying anything really, of coure the LL still owes the money, just likely to make them more resisant to repaying it.

Credit checks are nothing, but I do think they should be credit checking the LL and reporting to the tennant. The bigger saving is by not using a EA. Get somewhere of Gumtree (totally free but not really N.Ireland knowing)/ Property pal (looking at Non-EA ads), or Propernews classifieds (maybe, not sure how you do that yet), you should in theory pay less rent.

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Hi all,

Thanks for the replies so far. We have been visit several properties over the last few days and we have now picked a place and are just filling out our application forms.

The property is a new build, ground floor 2 bed apartment. Really nice, very spacious etc etc. A few things though:

Fitted kitchen is missing some appliances - Is this usually the case with new builds?

The are two large cracks the length of the wall on two walls - we will be wanting this rectified before moving in?

The shower head is fixed on the wall, but is about 4ft 5" from the base of the bath - no way suitable to stand upright underneath it. Could we get this sorted too?

I know we will be asking the EA/LL, but i'd like to know if these sorts of things can be sorted.

Thanks

Colin

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Hi all,

Thanks for the replies so far. We have been visit several properties over the last few days and we have now picked a place and are just filling out our application forms.

The property is a new build, ground floor 2 bed apartment. Really nice, very spacious etc etc. A few things though:

Fitted kitchen is missing some appliances - Is this usually the case with new builds?

The are two large cracks the length of the wall on two walls - we will be wanting this rectified before moving in?

The shower head is fixed on the wall, but is about 4ft 5" from the base of the bath - no way suitable to stand upright underneath it. Could we get this sorted too?

I know we will be asking the EA/LL, but i'd like to know if these sorts of things can be sorted.

Thanks

Colin

I wouldn't sign anything until its been sorted, mate. Are there similiar properties in the area?

If the place is a newbuild, the sale has probably been completed and monies exchanged,the builder may not be in a big hurry to help you out

The kitchen is what you see what you get, although a cooker, washing machine, fridgefreezer and working sink are pretty minimal. Ask for what you want (within reason)

The cracks, if a newbuild may be just drying/settling are are just plaster cracks. If the cracks are deeper and are wider than a credit card, they may be structural.

Edited by Vespasian

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Hi all,

Things have really moved on now. We applied for a 2 bed flat, and our references all went through okay. Since that, another flat has come up, same money, fully furnished new build, in a location we prefer over the first flat.

We're going to view it tonight, with the hope that we like the decor. If we do, we want to take that.

We aren't under any obligation to take the first apartment? We haven't signed anything or recieved a lease to look at yet.

We'd like to know where we stand with this.

Thanks

Colin

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you don't have to take anything if you don't want to rent it....you MAY have to pay another credit check if it's another letting agent. If it's the same agent then you have already had the checks done so don't pay any more.

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