Finding the right place to live is likely to be at the top of your to-do list if you are relocating to the UK or a local resident who has a new job in another area. The good news is that there is a thriving rental property market with accommodation to suit all preferences and budgets, so finding the right place shouldn't be too difficult.
Let's get started with this helpful rent guide to the entire process.
Before you begin your search
You should prepare financially by learning about the costs and permitted payments associated with renting as you will also need to pay a security deposit and possibly one month's rent in advance before moving in. You should also need to learn about the basics of renting a property in the UK. These preliminary checks establish that you can afford the rent and will thus be a good tenant.
On the other hand, you also need to consider what kind of property you want and what best suits your current lifestyle. Below are some of the common questions you need to ask yourself.
- How much is your maximum budget for the rental fee?
- How many bedrooms do you prefer?
- Which location do you want to rent?
- How long do you want the tenancy for?
- Do you own a car and thus require off-street parking or a garage?
- Do you have a lot of furniture and need an unfurnished rental, or do you have a little and would prefer a part-furnished rental?
- Have you recently graduated from university and lacked furniture, necessitating the need for a fully furnished apartment?
- If you choose a furnished or partially furnished apartment, you must maintain the furniture or risk losing some or all of your deposit to cover the damage.
- Do you want or require a garden for yourself, your family, your children, or your pets?
Schedule a viewing
The only way to truly understand the type of property you might rent is to schedule some viewings.
Go through your list of favourite properties, then schedule viewings through the website or with the branch that is renting the property. Many letting agents provide video tours or virtual viewings so you can get a sense of the property and whether or not it's right for you before paying a visit.
Bring your list of criteria to the viewings to ensure the property is a good fit. It is also a good idea to prepare a list of questions to ask; here are some examples:
- How much does rent cost per calendar month?
- What exactly is included in the rent?
- What other bills are there? What is the most likely price? In the case of a house share, how are the bills divided, and who pays them?
- How much of a deposit is required? Where will my deposit be safe?
- What permitted payments must I make to establish the tenancy?
- Are there any additional payments allowed if I choose to renew the tenancy?
- What is the duration of the tenancy agreement?
- When I want to leave the property, how much notice do I need to give?
- In the event of an emergency, who should I call?
- What kind of property insurance does the landlord have? What kind of insurance do I need to protect myself?
Referencing
Tenant Referencing
You've found the perfect property and received an offer letter, what's next?
There are some things you can prepare for the Goodlord referencing process, so you can quickly sign your tenancy agreement and move into your new home
Proof of identity (ID): to prove you are who you say you are and, if you're renting in England, that you have the right to rent.
- In England, your agent or landlord is legally required to view and photocopy a valid form of ID, such as a British passport or national identity card or a letter of attestation and drivers license with a birth certificate.
- If you are a non-British citizen, you may be able to provide a share code to prove your immigration status, for your landlord to undergo the check online.
You can find more information about this check and how to get a share code on the government’s website. The right to rent check is not applicable in Wales, Scotland, or Northern Ireland, but Goodlord will still need to see proof of identity for all tenants.
Proof of income or employment: to prove your funds can cover the rent.
You'll need to earn 2.5 x your annual rent to pass referencing or you may be asked to provide a guarantor.
- If you're employed: you'll need to provide three months' worth of payslips or written confirmation of your employment from your employer.
- If you’re self-employed or a company director: you'll need proof of a submitted tax return from the most recent tax year or professional details for your accountant.
- If you have savings: you'll need to provide your most recent bank statement from the past 30 day
You can inform your employer or accountant in advance that they'll be contacted to get their references back quickly.
Did you know that open banking can simplify your referencing experience?
This means you won’t have to provide proof of income documents - you’ll simply connect with open banking, so the provider can see a snapshot of your income and rent payments as quickly and securely as possible.
Previous landlord’s reference: to comment on your previous tenancy.
Let them know in advance that they’ll be contacted, to get a faster response.
Permission for a credit check: to do a ‘soft check’ of your credit history.
You'll simply need to give your written permission for your landlord, agency, or their provider to get an overview of your credit history, using publicly available data. This is a soft check so don't worry - your credit score won’t be affected. You can even run your own check in advance, to make sure there'll be no issues.
Guarantor: someone who agrees to pay the rent or any damages if you can’t.
Your guarantor will have to go through a similar referencing process and credit check, as they can't have any adverse credit. You should bear someone in mind and let them know as soon as possible if they’re needed. They'll traditionally need a salary of 3 x the rent to pass referencing and be living in the UK.
Payments: to secure the property and pay the security deposit.
Paying a holding deposit secures the property and you can choose for it to go towards your security deposit (maximum of 5 weeks rent, or 6 weeks’, if your annual rent is more than £50,000), which will be held in a secure deposit protection scheme. You may also need to pay at least a month’s rent in advance, so you’ll always be paying rent for the month ahead.
Guarantor Referencing
You’ve been chosen as the guarantor for a tenancy, what next?
Here's what you can prepare for the Goodlord guarantor referencing process:
Proof of identity (ID): to prove you are who you say you are
We'll need to see a valid form of your ID, such as a passport (current or expired), driver's licence, national ID card, visa, residence permit or a birth certificate.
Proof of address: to confirm you live in the UK
We'll accept most forms of official communication stating your current address, such as a recent bill, bank letter, or council tax statement.
Proof of income or employment: to prove your funds can cover the rent
We'll need to check that you have the means to cover at least three times the tenant's annual rent.
- If you're employed, you'll need to provide three months' worth of your most recent payslips or proof from your employer of your current salary.
- If you’re self-employed, we'll need to see a proof of a submitted tax return or a reference from your accountant.
- If you have savings, you'll need to provide your most recent bank statement from the past 30 days.
- If you receive benefits or pensions, we’ll require three months’ worth of recent statements as proof.
You should inform your employer or accountant in advance that we'll be in touch, to encourage a speedy response, and you can declare multiple forms of income if your primary source doesn't meet the affordability requirements.
You can opt in to open banking to speed up the referencing process
This means you won’t have to provide proof of income documents - you’ll simply connect with open banking, so we can see a snapshot of your income as quickly and securely as possible.
Permission for a credit check: to do a ‘soft check’ of your credit history When you agree to act as a guarantor on a tenancy, you'll be giving consent for Goodlord to get an overview of your credit history, using publicly available data. This is a soft check so don't worry - your credit score won’t be affected. You can even run your own check in advance, to make sure there'll be no issues.