Lettings Waltham Forest recognises how difficult it is to find a rental property in todays market, with the demand for properties being extremely high and not enough supply of properties available. Therefore we believe you need to be well prepared to give you a head start on finding your perfect home. The guide below will tell you what you need to know to start searching for your ideal property and what to do once you have found it.
Determining your costs and budget
Before you move into any property you would generally be required to pay 1 months rent and 1 months deposit upfront therefore you should ensure you have this ready
When considering your budget, you should take into consideration ongoing costs of running the property as well as the monthly rent. The ongoing costs will include your rent, utilities (gas, electricity, water), council tax and additional expenses (e.g., Wifi, parking).
Once you have calculated the costs and set your budget, you should be ready to start narrowing down your search criteria and deciding what type of property will be most suitable for you.
Deciding on the right property type
It is important to know what type of property best suits your current lifestyle as this will determine what your property needs are. When deciding on the type of property you require, you need to take it to consideration the location, property type (flat/house/shared accommodation), furnishings and additional requirements such as parking or an outdoor space.
Location - If you require regular use of public transport to travel to work then it would be ideal to find somewhere that is close to a tube/train station or bus stops. If you have car, then you need to find a property that has an allocated parking space or allows you to apply for a parking permit.
Property type – The factors that you need to consider when determining the property size will include the number of people moving in with you, whether you need an additional space for a home/work office or guests. If you are going to be living on your own then you would need to decide if you would like to have exclusive possession of your property i.e. a studio/1 bed flat or if you are open to having shared accommodation as part of a House in Multiple Occupation (HMO)
Furnishings and additional requirements – These additional requirements that are important to you such as having a space to park your car or having a garden. If you have already got furniture then you would need to look for unfurnished or part furnished properties. Alternatively, you could find a furnished property and ask the agent/landlord if they would be willing to remove any existing furniture
Once you have decided on the above, you should be ready to start searching for your property.
Finding your rental property
LWF lists all of its available properties on its website as well as Rightmove. You can search for these by clicking Properties to let and applying the relevant filters to narrow your search. You can also register for property alerts Here.
Once you have found a property that meets your criteria, get in touch with us by either requesting a viewing through our website or contacting us by phone/email to get more information. We always recommend visiting the property before committing to it and asking as many questions as possible for your reassurance. As a helpful guide, we have listed some questions below that can be useful when attending a viewing
- Who will be managing the property? Agent or Landlord?
- How long will the tenancy agreement be for?
- Will the landlord accept any offers?
- Are any bills included in the rent?
- What are the average bills for the property?
- What is the council tax band/rate?
- Am I able to make changes i.e. painting, hanging pictures
- What is the area like?
- What are the local amenities/shops/schools/
transport links like? - What furniture does the property come with?
The above questions should generally give you a feel of what the property offers and assist you in making a decision on whether to put an offer in or not. We always advise to be 100% sure before placing a holding deposit down as changing your mind could result in you losing your deposit.
Application Process
Placing an offer on the property should include the rent you are proposing to pay (if lower than the asking price) plus any other requirements you may have e.g. furniture to be provided/removed or decoration to take place. We strongly advise that you have written confirmation of your offer being accepted before placing the holding deposit as any requests made after placing the deposit may be rejected and result in you losing your deposit. The holding deposit is normally equivalent to 1 weeks rent and is non-refundable.
Once your deposit has been paid, the application process can commence which will include collecting your personal details to start the referencing checks. All of LWF’s reference checks are completed by Rightmove Landlord & Tenant Services. You must ensure you provide all the requested information as carefully and accurately as possible and disclose of any CCJ’s at this process. NOTE: Failure to disclose any CCJ’s may result in your reference failing. The reference checks will involve obtaining a landlord reference, confirming proof of income via your employer and a credit check.
If your application is successful and you pass the reference checks, the final steps in arranging your tenancy can commence which will include setting a moving in date and signing the Assured Shorthold Tenancy (AST) agreement.
The AST is normally made available to you straight after the referencing process and well ahead of the moving date, therefore we strongly advise that you read through it thoroughly so that you understand all the terms, including rent due dates, duration, notice periods and your obligations as a tenant.
Do not hesitate to ask for clarifications on any parts you are unsure about.
Moving in
Moving into your new home is very exciting and it can be very easy to overlook some of the small tasks that need to be completed at those initial stages. You must ensure that you have been provided with all the relevant documents such as a signed copy of your AST, compliance certificates, how to rent guide and inventory/condition report.
The inventory will detail everything that is provided with the property along with any defects. It would be your responsibility to ensure that you go through your new home to ensure that everything matches the report, if there are any items missing or defects not noted, then you must add these on and return a copy back to the agent/landlord. This is a very important part of moving as if there are any damages/defects to the property when you vacate that may not have been caused by you but have also not been noted on the inventory, the agent/landlord may put a claim against your deposit to recover costs. We would also strongly recommend taking pictures of any defects as soon as you move in.
You will also need to set up all the utilities in your name and update your address with any relevant companies.
You are now ready to enjoy your new home.
LWF understands that it can be difficult finding a new property and maintaining your tenancy so we have compiled a basic checklist below that should help you ensure you have ticked all the boxes
| Task | ✓ |
|---|---|
| Have one months rent and deposit ready | |
| Know your requirements for your property within your budget | |
| View any potential properties in person and take pictures/videos (with permission) | |
| Put your offer in writing along with any specific requirements and get confirmation of acceptance | |
| Provide accurate details on your reference application, disclosing any CCJ’s | |
| Thoroughly read through the AST before signing | |
| Ensure you are provided with up to date compliance certificates and how to rent booklet | |
| Ensure you are provided with an inventory/condition report | |
| Note any discrepancies on the inventory at the start and take pictures for your record | |
| Ensure you receive your deposit registration certificate within 30 days of moving in | |
| Set up all utilities and council tax in your name | |
| Set up standing order for your rent payments | |
| Keep an open communication with the agent/landlord about repairs and maintenance | |
| Give appropriate notices in line with the terms of the AST | |
| Be present during the final checkout inspection |