What To Consider Before Renting

How much you can afford?

You need to consider not just how much you can afford in monthly rent but also consider the amount it may cost you to move in and pay bills etc.

Application Fees – These fees will vary dependant on each persons circumstance. Please see our tenancy fee page for more details.

Rent – You will need to calculate how much you can pay a month and if your income can cover this. We ask that your annual income is at least 2.5x the annual rent. For example, if the annual rent is £6000 your income should be at least £15,000 per annum. The first month’s rent is paid on the day you collect your keys and sign your tenancy agreement.

Deposit – Although this is a one off payment, you need to consider this cost in the total cost of moving. The deposit is paid on the day you collect your keys and sign your tenancy agreement. The deposit is specified on each property description and is usually taken to cover any breakages, dilapidation or deductions due. Your deposit is protected by a written inventory of the fixtures and fittings and when it is received by us, it is paid to and registered with the Deposit Protection Scheme (DPS) who will hold it for the duration of the Tenancy.

Bills – Together with your monthly rent payments you need calculate the amount you will be paying for bills. The usual bills you will get are; Gas, Electric, Council Tax, TV License etc. By looking at an EPC for a property you can roughly gauge how energy efficient a property is and how it may affect your energy bills.

Furniture – Unless stated otherwise, the majority of our properties are unfurnished (apart from an oven). You may also want to factor the cost of furniture into your moving cost calculations.

How soon can you move in/should I start looking?

You will need to consider how quickly you need to move in. Some of our properties are already tenanted and are therefore not available straight away. Please ensure you have looked at the availability date for the property on the advert, if you are unsure call us at the office to confirm this date.

The usual process is as follows:

Viewing

Most of our properties have comprehensive internal and external digital photos and some have virtual tours, allowing you to view them at your leisure. If you so choose, we can also contact you as soon as any new properties become available, in order to arrange a viewing for you. These will be at a time to suit you, which could be in the evenings or at weekends. You will always be accompanied by us and will be able to provide immediate advice and answers to any questions you may have.

Offer/Application

Having selected your home, you will need to complete an application and offer to rent. At this time any details or requirements can be agreed, including occupancy date, duration of the letting, etc.

References

References are required for each applicant on behalf of the landlord. Normally, this will include your company employer, any former landlord and a character reference. In addition, a credit reference and a search of the voters roll register will be carried out. This can take up to 2 weeks to complete and we cannot move you in until these references are back and satisfactory.

Rent & Deposit

Rents are normally quoted on a calendar monthly basis. Rents are paid monthly in advance by standing order to the audited Belvoir Client account. The deposit and first month’s rent is normally paid in cleared funds on the first day that you sign the tenancy agreement and collect the keys.

We advise that you start looking for a property around 4-6 weeks before you need to move. Ideally we like to have you moved in within 2 weeks of you applying for the property (dependant on the availability date).

What if I...

Have bad credit history/low income?

If you fall into either of these categories it may still be possible for you to rent a property from us depending on your situation. In most cases we will ask you to provide a guarantor*. It is always recommended you contact us directly to discuss your own personal situation.

Am in receipt of a form of Housing Benefit?

All of our property adverts will specify whether or not the property will accept tenants claiming housing benefit (below the description). If you are in receipt of housing benefit and the property does accept this status then in most cases we will require you to provide a guarantor. However, we advise you to contact us directly to discuss your own situation as we may be able to provide you with more specific advice.

Please be aware it can be the landlords insurer or lender that may have specified that they cannot let to a tenant in receipt of housing benefit.

Am a Non-UK Citizen

If you have not lived in the UK for more than 3 years we will ask you to provide a guarantor. If you are from outside the European Union we will also ask for your Visa as proof you are legally allowed to live in the UK as part of our ‘Right to Rent’ checks. It is always recommended you contact us directly to discuss your own personal situation.

*What is a Guarantor?

A guarantor is somebody who would be liable for the property and rent payments if you were to default on them. The guarantor must:

Be over the age of 24
Lived in the UK for over 3 years
Have an annual income of over x3 ½ annual rent
Other restrictions may apply & all guarantors must be fully referenced by us to qualify

Pets

All of our property adverts will specify whether or not the property will accept pets (bottom of the description). If the property does accept pets we will ask you to have the carpets professionally cleaned and pet sanitized at the end of your tenancy. Any pet damage will also be taken from your deposit and you may be asked to make an agreed additional deposit payment. We also request that applicants pay a non-refundable pet fee of £84 incl. VAT per pet.

We always advise that you call us directly to discuss your own situation and circumstances as they may differ from the above. If you do have any further questions then please do not hesitate to contact us.

We hold Client Money Protection Insurance through Propertymark

What to consider before renting