And finally, there’s a few financial considerations you might want to think about before you take the plunge with your new property to rent.
Find out what the estimated costs of running the rental property are. This helps you to budget immensely. Even if the rent is within your budget, the house might require a lot of money to keep it warm in the winter for example, thus draining you of precious resources and stretching you financially.
Clarify what bills you are liable for and what are included in the rent, if any. Private landlords work in different ways and some include some bills in the rent, or, the tenant pays a set amount to the landlord for gas and electric for example.
How much is the rent? Also find out in advance how much deposit is needed – it’s usually one month. Ensure your deposit will be held in a deposit protection service like the Deposit Protection Scheme. This is required by law now anyway. Check what the private landlord may deduct money off the deposit for. Knowing this in advance can avoid future disputes.