Renting a house.

tom_gr7

tom_gr7

Life Serving
So, everyone,

me n the missus are looking at renting a house in the next 4-6 months. Currently live with family, both of us have never rented before. We would like to buy straight away, however, we don't have a 20k deposit or the time to arrange a mortgage. - long story, but renting is our only immediate option.

so, I'm wondering does anyone have an advice or tips they can offer?

thanks in advance.
 
mantadog

mantadog

Superhero Level Poster
Hmm never looked at renting, I've just about got a deposit together but no job to pay back a mortgage but hey ho.

My advice would be check up on your landlord, my boss was a landlord while he lived in a company house. Long story short he shafted the tenants when they fell out. He basically charged them for pre existing damage, got inflated repair bills from tradesman 'mates'. Going from what he said he even charged for damage that didn't even exist. Yeah he was that type of guy...

Anyway, take Photos of everything before you move in. Just everything, 10-15 photos per room from every angle you can think of, close ups on stuff that needs it. Also if your renting furnished (i presume you will be) make sure you get good shots of that and take an inventory of your own and compare it to the one provided by the landlord. get insurance that covers the contents, that way if the worst comes to the worst and things get ruined your not left with a huge bill. Though this could be expensive as the insurance companies will know some of the stuff isn't yours and your less likely to take care of it.

Ask if you can talk to previous tenants from the same landlord.
Not such an issue if your moving out from a family home but remember to get your mail redirected.
Don't be afraid to be picky about something, your paying his/her mortgage. Look behind cabinets etc, sometimes nasty things are hidden.
Make sure if you have gas its serviced yearly.
Make sure you note down the utility meters reading when you move in.

Oh yeah and 100% check where the stopcock and fuse box is. We told my sister to check this when se was renting at uni and would you believe it? Few months down the line she needed it. Her flatmates were very impressed she knew where it was.

That's all i can think of but i bet they're 100's more.
 
P

PokerFace

Banned
Hi Tom,

Good advice from Mantadog, but I would also add that if you do see any problems/damage at all while your taking your photos, note it down and make the landlord sign to agree this is pre-existing damage. If he has any problem signing, then don't rent off him. After all, if you were the landlord and a prospective tenant asked you to sign for something like "this wallpaper is ripped", would you have any problem?

My main advice however, would be to stay put (if possible) until you can afford a deposit to buy. Often, rent is higher than mortgage payments and is 'dead money'.

Remember, your first property is not going to be your dream house, but you're not wasting money on rent and at least you are on 'the ladder'.

All the best!
 
Rakk

Rakk

The Awesome
Moderator
Just thought I'd add a few points about renting - I was renting for a long time before I finally bought my house (the renting didn't stop me getting a deposit together - it was the fact that whenever I was going to look at buying a house I got made redundant therefore I was renting for a long time).

I found renting through a lettings agent that managed their properties a lot less hassle than through a private landlord - one place I was renting through a private landlord was perfectly fine, but the next place the landlord never quite got round to fixing stuff that needed fixing cos he did it all himself when he had time, the last place I had was through a lettings agent and if something needed fixing looking at, the agency had their maintenance guy there is a day (or two at most) and things did get looked at and sorted - whilst this may not seem important, if your heating goes in the middle of winter you want it fixed asap (and lets face it, stuff like heating does not break in the summer). Though do note that some of the lettings agents may not be as good as the one I had, you probably want to do a bit of research first about your local ones.
Often agencies will automatically do a an inventory with a 3rd party - on the day you get the keys.
Note agencies will tend to charge fees but for me I found it worth it - cut out at least some of the hassle/stress.

But yeah, remember to find out what your rent includes - cos stuff like bills (water, elec, gas, phone, broadband, council tax, tv license, contents insurance, cable/sky) all build up and if you're not expecting it could be a nasty shock (I think mine adds up to over 200 quid a month for all that lot, but I've probably missed something)

Also you need to decide whether you're going for furnished or unfurnished - noting that if you have no furniture then furnished may be an idea (but then you do have to be careful not to damage any of the landlords furniture), but at some point you will need to get furniture of your own :)
 
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keynes

keynes

Multiverse Poster
Letting agencies are great for reducing risk in case of issues with the property and getting back the deposit. But in my case the additional fees were quite high and often require a greater deposit. I have been lucky with private landlords, never had an issue but there are definitely some that may take advantage of you if you are not careful.
 
ubuysa

ubuysa

The BSOD Doctor
You could always buy a yacht and live on that? :boat:

Sorry. It's a serious thread and I shouldn't make jokes. My mistake. I'll go and lick the bliges clean or something..........

:sailor:
 
DeadEyeDuk

DeadEyeDuk

Superhero Level Poster
The Mary J kind ubu? :)

And stop peddling your crazy maritime lifestyle around here you crazy person you! :D
 
tom_gr7

tom_gr7

Life Serving
thanks for the replies guys, its appreciated. We don't really want to rent, but to cut a very long story short we don't really have a choice.

I was thinking of Osborne's dodgy 5% deposit house mortgage scheme, whilst its fueling another house price bubble, it might be a viable option. We could then maybe afford a 100k house, (lol we live in the north, some are that cheap). I guess its better to buy a cheap house to get on the ladder, than rent which is effectively paying someone's buy to let mortgage.
 
DeadEyeDuk

DeadEyeDuk

Superhero Level Poster
Yes. And really, the Gvt scheme is a good option for first time buyers :) Whatever the outcomes or effects on the economy etc, it is still good for the ones taking it up.

I shall be in your position hopefully later this year tom, so will be very much looking into exactly what you are then, so when I say good luck, I really do mean it :D
 
Boozad

Boozad

Prolific Poster
Can't you tell the local council you're being made homeless? Get priority on a council house? Move in, live there five years then buy at a massive discount.
 
tom_gr7

tom_gr7

Life Serving
Boozad said:
Can't you tell the local council you're being made homeless? Get priority on a council house? Move in, live there five years then buy at a massive discount.
Click to expand...

funny you should mention that, me the missus tried that when I left the army. We found its a terrible system, they assess you and determine what "band" you should be. They held it against me, because I CHOSE to leave the army. Our band was E I think, i think was one of the lowest. You then have to "bid" on properties that you like. But, it tells you about many people are above you that have also bidded on the property. We didn't stand a chance, we had about 150 people in front of us. It was a complete waste of time and there are simply not enough council properties. - thanks maggie.
 
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