1. Know Your Budget
Before you begin your rental search, it’s crucial to have a clear understanding of your budget and all associated costs. Typically, referencing companies require a combined salary of at least 30 times the monthly rent or 2.5 times the annual rent to pass affordability checks. If you fall below this, a guarantor may be needed. Additionally, you’ll need to pay the first month’s rent upfront along with a deposit, which is usually equivalent to five weeks’ rent.
2. Book a Viewing
Seen a property you love? Contact the letting agent promptly. They’ll answer your questions and arrange a viewing at a convenient time. If you’re interested in securing the property, let them know right away, and they’ll guide you on the next steps.
3. Make Your Offer
Found the one? Speak to the agent to register your interest. They’ll walk you through the offer process, asking questions about your circumstances. This is your chance to communicate any requests, like specific move-in dates or furnishings (e.g., white goods or additional furniture).
4. Paperwork Time
If your offer is accepted, the agent will request an application to rent and a holding deposit (equal to one week’s rent). This will be deducted from your final balance. You’ll then be sent a link or forms to begin the referencing process. This includes credit checks, references from previous landlords and employers, proof of ID, and a Right to Rent check, which is a legal requirement.
5. Signing the Agreement
Once everything is in place, the Assured Shorthold Tenancy (AST) will be drawn up. This outlines key details such as the move-in date, deposit, and rent payment schedule. Carefully review the document before signing. Afterward, your deposit will be lodged with a government-approved scheme, giving you peace of mind.
6. Move-In Day
It’s here—the exciting moment you’ve been waiting for! Beforehand, the agent will likely carry out an inventory to document the property’s condition. You’ll receive a copy of this, and it’s important to review and sign it within seven days. This inventory will be used to assess the property’s condition when you move out, so keeping it in good shape will ensure a smooth return of your deposit.
7. Moving Out
When the time comes to move on, refer to your AST for the required notice period. Make sure the property is cleaned and any damage repaired, as the initial inventory will be used to assess its condition. Costs for damages or excessive wear and tear will be deducted from your deposit. Once everything is in order, your deposit will be returned to you within the agreed time frame.
At Hawthorn & Co, we make renting seamless with clear communication and modern tools like our app, which allows you to streamline maintenance requests and access essential information. Whether you’re new to renting or a seasoned pro, we’re here to make the journey as smooth as possible.
