It can be a highly competitive market for people looking to rent a quality property, in a good area of town, with multiple applications often being submitted for the more desirable properties, and property owners and landlords often have their pick of which tenants they choose to rent their properties.
Therefore, it’s advisable for prospective tenants to take certain steps to ensure that they are as attractive as possible to potential agents/landlords, if they want to stand a good chance of beating off the competition and securing the property.
Here are some tips on making the necessary preparations before you begin to view properties:
1. Background Research
Nobody likes having their time wasted, not you, and certainly not letting agents or any landlords we know. Therefore, it is worth doing your homework before you view a particular property, and it’s certainly worth spending some time to ensure that any property you view meets your basic requirements.
Considering what you want, what you can afford, the location of the property and other important factors such as the number of bedrooms, parking and local amenities, will mean that you don’t waste precious time visiting properties which are simply unsuitable for you.
2. Your Budget
On the face of it, we’d all like a 5 bedroom mansion with a swimming pool, stables, large gardens and a gated driveway. However, for the majority of us, this is only a dream.
There’s nothing worse than viewing a property you love, then realising that you simply cannot afford it. Therefore, it’s advisable to work out your monthly budget in advance, taking into account your monthly income and likely expenditures, long before you book to view a property.
Be sure to consider the associated costs involved in moving, such as 5 week deposits, first months rent in advance, van hire, putting your belongings in storage etc.
3. Tenant Referencing
Few landlords nowadays will agree to let their property to anybody without seeking satisfactory references from previous/current landlords, current employers and at least one credit referencing agency. Good references provide a snapshot of your recent performance as a tenant, and can demonstrate that you’re a person that can be relied upon to pay the rent on-time, and maintain the landlords property in a satisfactory condition.
Presenting your application in a tidy and organised manner, with duplicate documents and names/contact details for landlords, employers, will make a good impression once you’ve secured a property, and may also speed up the tenant referencing process.
We would always recommend being honest from the start, so if you have adverse credit, declare it in advance and provide a Guarantor who is a UK resident, over 18 years old, and either working or a home-owner. Otherwise, any ‘Holding Deposit’ you may have paid could be wasted, if the credit checks uncover undisclosed information.
We recommend you always prepare well, do your research and be 100% honest from the start. Agents and landlords always look to let their properties swiftly, and to the right person, so making their job as straightforward as possible, can lead to a win-win situation for all concerned.
For further information, or for general advice, why not speak with a member of our team on 01706 828229.