Renting a property for the first time can be a stressful and confusing experience. It is easy to presume that renting a flat is as easy as calling a letting agent and signing a contract. However, there are a complex set of legal procedures to deal with, as well as various fees for administration and other processes involved with renting a home.

For most first time renters, putting pen to paper on a contract will be exciting enough to overlook the legal subtleties of signing a rental agreement. By overlooking a contract’s details, you run the risk of finding yourself in an awkward position with regards to items such as deposits at the end of your tenancy. Keep an eye out for the following aspects when going through a rental contract.

Fees

With most rental properties, you will face a series of charges before you have even moved into the property. These include administration fees, as well as charges for background checks some letting agents choose to run. If you require a guarantor, it’s likely that you will pay a fee to cover the process of making sure your guarantor can cover any rent or expenses you fail to pay. Make sure that you are fully aware of the fees the letting agent will be charging, with a list in writing. Don’t be afraid to question any which seem unduly high or unfair.

Deposits

Deposits are paid in order to cover for any damages incurred during your tenancy, and for any repairs or cleaning needed after you leave. By and large, most tenants will receive their deposit back at the end of their tenancy.

Make sure the landlord or letting agents you choose to rent from safeguard their deposits with a government-approved deposit protection scheme. These schemes, operated by the Deposit Protection Scheme, ensure your deposit won’t get ‘lost’ or spent on anything but any potential damages to your property.

Having a DPS scheme also makes settling any disputes over your deposit easier. The DPS operates a free Alternative Resolution Service which aims to resolve any disputes quickly and out-of-court. This means avoiding potentially massive legal fees down the line.

Alterations

When you’ve settled into your new flat, you will undoubtedly want to install a number of services – broadband connections, digital TV and a landline phone for example. Unfortunately, installing these services usually involves drilling holes in walls – which could potentially drill a hole in your deposit.

Make sure that you double-check any planned installations with your landlord or letting agent. Ask the engineer installing your services if they will need to drill any holes and ask your letting agent as soon as possible. Make sure that any drilled holes or adjustments are agreed to in writing – verbal agreements will give you no legal standing should your landlord decide to try and deduct any alterations from your deposit.

This also applies to items like picture hooks and even posters – some landlords will deduct a significant amount from your deposit for having to paint over stains left by blue-tack. Again, the key is communication and making sure that you have everything in writing.

Renting a new home is an exciting experience, but can be overwhelming if you don’t fully understand the legal implications of entering a rental agreement. Make sure you know exactly what you are signing up for, and you should find that the scope for potential disputes is significantly reduced.

Ben Greenwood is writing on behalf of Shepherd Gilmour, specialist Manchester letting agents.

Ben Greenwood is writing on behalf of Shepherd Gilmour (http://www.shepherdgilmour.com), specialist Manchester letting agents.

Author Bio: Ben Greenwood is writing on behalf of Shepherd Gilmour, specialist Manchester letting agents.

Category: Real Estate
Keywords: letting agents, renting property