1. Finding your property
It’s a good idea to view as many properties as you can. There are various property portal websites such as Zoopla, Rightmove and Onthemarket to help you find somewhere, so prepare a ‘hit list’.
Think carefully about your needs and consider how long you think you may want the tenancy for.
If you are moving in with a partner, make sure that you can both attend the viewings together as property lets are currently in huge demand and can be taken off the market as quickly as they go on.
2. Make your offer / Secure the property
When renting a property there are various costs to take into account.
A month's rent will be payable in advance as well as a damages deposit equivalent to 5 weeks rent.
Once you've found a property you like you need to make an offer. You have to consider that they could have several more viewings lined up for that day, so act fast to secure it and express your intention.
There are no upfront agency fees but you will be asked to put down a holding deposit of one week’s rent to secure the property if your offer is accepted. This will be deducted from the balance of the move in money.
Inform the agent of any conditions or requests that you may have in order to move in and also if you are seeking a reduction in the monthly rent.
The agent will then negotiate with the landlord on your behalf and once the terms, rental price and moving in date have been agreed, the tenancy process can begin.
3. Applying for a tenancy
Once your offer is accepted you will need to pay the holding deposit. After this the letting agent will then need to run a credit check and seek employment and previous landlord’s references. In some cases the agent may ask to see recent bank statements, as well as showing your passport in person, for a Right to Rent check.
4. Exchanging contracts
Once the references have been approved by the landlord, the letting agent will ask you to sign a tenancy agreement. These are typically ‘12 month Assured Shorthold Agreements’ unless otherwise agreed, and you’ll also be handed any other documentation that is relevant to the property.
5. Moving in
The balance of initial rent and security deposit will need to be paid before you move in.
On the move in day you will meet an inventory clerk at the property and together you will read the meters, check for defects, damage and cleanliness and this will all be noted on the inventory. You’ll then be handed the keys and that’s it. You’re all ready to move in.
Within 30 days of having paid your security deposit this will be registered with a third party, and you will be sent a certificate to prove this.
Ellisons deal exclusively in the Wimbledon, Morden, Raynes Park, West Wimbledon, Motspur Park, Colliers Wood and Merton Park areas.
For valuation, viewing, and general advice on property call or email us today on 020 8944 8626 or email@example.com
Ellisons are members of Arla Propertymark the regulatory body for the industry and offer Client Money Protection through Propertymark, click here to see a copy of the Client Money Protection Security Certificate