Alex Eid, CEO and founder of homie.rent
When is the move in date?
Can I have a copy of the inventory report?
The inventory report lists the furniture, fixtures and fittings as well as the condition of the property including damages, scratches and wear and tear prior to you moving in. This report is created at the beginning of the tenancy and is compared to another report done at the end of the tenancy. Any deposit deductions will be based on any discrepancies between the 2 reports.
Who manages the property?
This can be the landlord, the Estate Agency’s management department or a separate management company. It is more convenient to have the Estate Agency’s management department as they tend to be more responsive and are open at least 9 hours a day/5 days a week.
What furniture stays and what goes? Are they flexible?
Confirming the furniture is essential when making an offer. That way, you will know exactly what is included. Also, after an offer is agreed, landlords will tend not to add or remove furniture. Furthermore, it’s good to know what furniture isn’t included so you know what to budget for in terms of furnishings for when you move in.
How long has the property been on the market?
If the property has been on the market for a while with no logical reason, this may mean that there is something wrong with it thus further research and inspection by yourself will need to be done on the place.
Are the windows double glazed?
Double glazing keeps in the heat and keeps out the noise. Important to take into consideration as double glazing will save you money on your energy bills.
What and how much are the average monthly bills? Are any bills included in the rent?
It’s important to have an idea on how much the living costs will be, have an idea how much the flat will cost to run and whether you have the budget to afford the overall costs of renting the property.
The main bills when renting a flat are:
Council tax - a tax paid to the local council monthly, bi-annually or annually to maintain the public spaces in the local area. Price differs per borough. (Students are exempt and single occupants get 25% off).
Electricity/gas - Prices vary based on consumption and energy supplier, bill is paid monthly.
Water (sewage) - Usually a fixed price based on the ‘rateable value’ of the home, or if there is a water metre installed this will be based on consumption.
What and how much are the tenant fees? Deposit?
It’s important to find out how much in total the fees and extra costs will set you back.
Standard tenant fees when renting a flat include:
Holding deposit - usually equal to 2 weeks of the agreed rent. Paid once an offer is accepted in order to secure the property while referencing takes place. This is deducted from first rental payment.
Administration fees - a fee to cover drafting of a tenancy agreement. Varies depending on the agency but can range from £0-£100.
Referencing fees - a fee paid to a 3rd party company to perform a background check on the applicant, with the main purpose being to confirm affordability and review the applicant’s rental history. This is sometimes part of the administration fees.
Security deposit - usually 6-8 weeks of agreed rent. Returned at end of tenancy. Deductions may be made based on inventory report.
Rental amount - agreed rent payable depending on agreed payment frequency
Inventory check-out fee - paid to a 3rd party inventory check company to complete an inventory report at the end of the tenancy. Varies depending on size of property.
When is the move-in date?
It is important to know the earliest/latest move-in date for the property so you can organise alternative accommodation if needs be. Is there any flexibility with the landlord should you need to push the date back a couple of days? You don’t want to be paying for a property when you’re not living in it.
Can I break the contract? What is the notice period?
This is important to negotiate with the estate agent to have the flexibility of moving should the need arise. Find out whether is is possible to put a break-clause in the contract (usually a minimum of 6 months) allowing you to break the contract on the 6th month or anytime after that, providing you give the required number of months’ notice.
Who is responsible for the garden/outside space?
This will need to be agreed prior to your offer. It is important to know who is responsible for communal spaces so you are not left with an unexpected bill.
Furthermore, if the flat has a garden you can ask for the outside space to be cleaned as a condition in the offer; however, you will need to return it in the same condition.
Bonus Tip: Always submit a short bio about who you are when submitting an offer.
A short bio on yourself can be the difference between your offer being accepted and rejected.
When putting forward an offer: sending a short paragraph on who you are, what you do as a job and what you enjoy doing will let the landlord know what type of person will be living in his/her home - think about it, if you were the landlord you would want to know who was renting your place.
Author- Alex Eid
Alex Eid is the CEO and founder of homie.rent, the new London rental platform that pairs renters with their own Homie, a personal home finder who finds them the property that best match their criteria. It all started when Alex helped a friend finding a home to rent in only one day, by arranging everything from searching properties to viewings and cab tours.
Alex instantly realised the market was lacking a personal service like that - a friendly person who help you searching the right property, show you around and give advice, something only local area experts can provide.
A year on, homie.rent staffs 10+ Homies, who search the entire market to find only the right properties that match renters’ criteria, and schedule for them multi-agent viewings. Homies then join renters on back-to-back cab tours to view properties and give advice on the area. Renters can request as many tours as they need to find the right home, only paying a flat fee of £88.