Choosing a new rental property is an exciting time, but it can be stressful if you’re not fully prepared. We look at three of the most important, and often overlooked, steps in choosing a rental property from actual viewings to paperwork, and why making a good offer is essential.
Do lots of viewings
Viewings are absolutely essential. You cannot really get a sense of a property from images alone. And you need to view more than one property for comparison. Take a tape measure with you and take your own photos too. Even when you think you have chosen your new rental, ask if you can go back for a second look as you might spot something you didn’t see before.
Be ‘paperwork prepared’
Moving into a rental can mean a lot of paperwork and the more prepared you can be with this, the better. Having everything ready when the letting agent or landlord asks for it will prevent hold-ups and keep you in first spot for the property. Depending on the letting agent or landlord, you may need all the following:
Copy of photo ID
Proof of current address
Right to Rent check
Bank statements (past three months)
Reference from your current or a previous landlord
Employer reference
Although the paperwork can feel daunting, it’s little compared to what you need to do when you buy a property. Even changing the name of ownership on a property requires the assistance of a transfer of equity solicitor like https://www.parachutelaw.co.uk/transfer-of-equity-solicitor.
Make a good offer
A good rental will be in high demand, and you may need to make an offer above the listing price. Newly listed rental properties can have hundreds of interested parties, and landlords are allowed to choose at whim. Hence, making an offer above the listed rental price can be a surefire way to secure the property.
This offer does not need to be ridiculously high, perhaps ten percent over the listed price. But make it quickly, before someone else does. Most landlords are keen to fill a property fast.
These are just three of the things you need to do when you’re trying to find and secure a rental property. However, they are three of the most important and will help you not only find the perfect place but also help the process to move along more quickly.