Both buying and renting a property can be a long and arduous process. Gaining an understanding of the fundamentals on how to go about this makes the process much easier and puts you in a better position than having little to no knowledge. This section will provide you with the relevant information required for you to gain a comprehensive understanding concerning renting a property.
Beware – Essential elements to choosing a property
When it comes to buying and renting properties, scammers are everywhere it is important to be able to discern what is and is not a scam, and these days scams can be very intricate and sophisticated. We will go through common types of scammers/scams that are common that you need to be aware of:-
- Really low price
If the price advertised is questionably low, then there is probably an issue with the property of it’s a scam. - Spelling Errors
Estate agents use excellent English, if the advert has spelling errors etc then it’s probably been written by a non-professional. - Instant deposit – if the landlord is applying considerable pressure to ensure money is transferred without haste and good explanation and is overly zealous avoid it!
- The “Fake” estate agent
Here someone pretends to be an estate agent and shows you round a lovely home, there is furniture and belongings about – “they are moving out next month”, you sign up and pay the deposit only to find out that the owners were on holiday and the whole thing was a scam – this was mainly done by more organised crime in association with travel agents. - Illegal charges
The easiest scam of all, charging a higher deposit or charging for something which isn’t in the tenancy agreement, the tenant is under no requirement to pay this. - Illegal subletting
This is where the person offering you a property claims to be the landlord when in fact they are a tenant, here you pay who you think is the landlord every month, however, they do not forward on the rent. The first you hear of this is when the bailiffs come to repossess the property. - One just like it.
This is where a landlord shows you a property in pristine condition and you start the paperwork, just for there to be an issue at the last stage, the landlord says he “has one more just like it” round the corner so you sign up thinking of life in a pristine let, however when you get there it’s not as nice. The golden rule – don’t sign until you’ve seen. - Illegitimate property
Mainly applicable to renters who are moving to the UK and do not have the chance to view a property, many use an online company that offers to sort out a property for them, there are obvious warning signs here. Some fraudsters use a different photograph of a house to the one they are looking to let, stealing images off other estate agents sites, an easy check is to compare the front of the property with images of Google Maps, if the image is not of the same houses then it’s a scam.
There are many more scams like these but these are common popular ones, it is important to pay all due diligence to avoid scams.
How Lestons can help.
We hate to see people scammed, as such, we are happy to:-
- Search for a property for you – tell us your parameters and we will start collating potential properties.
- Negotiate terms with the landlord
- Arrange for a surveyor to visit the property to look for issues such as damp, pests and give a condition report.
- Check that the letting agent is properly registered and authorised
- Complete ID checks to ensure your landlord is the actual owner, or if working on behalf of a company, has the relevant authority to arrange the let.
- Manage warranty and any other legal issues.
Renting – Bills and Taxes
When you rent a property, you must know the bills and taxes that you will be paying during your whole tenancy. To be prepared for these expenses you can ask the landlord or letting agency, to give you an estimation of the overall amount of expenses you will be paying and the energy efficiency of the property in advance.
The main expenses to look out for in a rented property are:
- Council Tax – A council tax is a local taxation system used in England levied on a household, which is based on the value of the property and the number of people living in it. A council tax is usually paid every month or yearly, according to the preference of the person renting the property.
- Deposit – When you rent a property you will also have to pay the deposit for the house as this will be used by your landlord or letting agency against any damage you may have caused to the property when your tenancy agreement ends.
- Utility bills – Water, gas and electricity bills are expenses that contribute to the essential function of a property. Gas and electricity are usually paid every month by debit payments or prey payments, while water bills can be paid every month or quarterly by the preference of method.
- Service charges – The service charges are only paid in some properties and tenants have the option to pay them monthly or annually.
- Content insurance – A content insurance is insurance that pays for the damage or loss of an individual’s possession and this can be usually paid every month or yearly.
When renting a property, depending on the type of tenancy agreement you have, there will be different types of rights you may have access to.
As a tenant the basic rights you have are:
- To live in a safe property, in a good state of conditions.
- Getting repairs done, when required.
- Receive a written agreement of the tenancy.
- Protection from unfair eviction or rent increases and the right to challenge it.
- Getting your deposit back, once the tenancy has ended
- Know who the landlord is.
- Receive information about the property’s Energy Performance Certificate.
- To terminate the tenancy agreement earlier by giving notice (Depending on the type of tenancy agreement and if your landlord also agrees to it).
- To live in the property undisturbed.
- Receive electrical and gas safety checks and a copy of both certificates as well.
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