Before you start to look for a property to rent there are several important factors that you need to consider.
How much you can afford?
You need to consider not just how much you can afford in rent but also consider the amount it may cost you to move in and pay bills etc.
These fees will vary dependent on each persons circumstance, please see our application fees page for more details.
You need to calculate how much you can pay a month and if income can cover this. Here at Belvoir we ask that you have an annual income of at least 2.5 x the annual rent. The first months rent is paid on the day you collect your keys and sign your Tenancy Agreement.
Although this is a one off payment you need to calculate this cost into your total cost of moving. The deposit is also paid on the day you collect your keys and sign your Tenancy Agreement. It is then registered into a chosen deposit scheme. The deposit is taken to cover the cost of any dilapidations (damages) at the end of your tenancy. You will not be able to get the deposit back until your tenancy has ended and the amount that is returned has to be agreed by both the landlord and the tenant (if there are dilapidations to be deducted).
As well as monthly rent payments you need to calculate the amount you may have to pay for bills! The usual bills you may find you get are; Gas, Electric, Council Tax, TV License plus others.
Unless stated otherwise, the majority of our properties are unfurnished. 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 need to consider how quickly you need to move in. Some of our properties are already tenanted and are therefore not available straight away. Once you have applied for the property we also need to carry out your referencing checks, this can take up to 2 weeks to complete and we cannot move you in until these references are back and satisfactory. Please ensure you have looked at the availability date for that property on the advert, if you are unsure call us at the office to confirm this date.
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 4 weeks of you applying for that property (dependant on the availability date).
What if I …
…Have bad credit history/low income
If you fall into any 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 for you to provide a guarantor*. It is always recommended you contact us directly to discuss your own personal situation.
…Am in receipt 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 that you contact us to discuss your own situation as we may be able to provide you with more specific advice.
(Please be aware it can be the landlord’s 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 6 months 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. 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 3 ½ x the annual rent
- They must have good credit history
All of our property adverts will specify whether or not the property will accept pets (bottom of the description). Usually 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.
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 on 01522 544999.