I left uni back in 2003, but I can still remember it all so clearly.
My best friend and I decided to stay in Swansea after graduating. The plan was to rent a house for a year and see what jobs we could find. It was a very vague plan, basically built around the fact that neither of us wanted to head back to our parents’ homes straight away.
We wanted to see where the next year would take us and hoped that things would just come together.
It was exciting and scary in equal measures; taking those first steps out into the real world on our own. It was the first time we’d rented a property outside of the safety of university and honestly we didn’t really know what we were doing.
For anyone in the same position, here are seven quick tips that will hopefully make the process a bit less daunting.
1. Keep an eye on your budget.
Work out how much you can afford to spend on rent each month and don’t be tempted to go for a property that costs more than that figure.
Keep in mind that you’ll have to pay for all sorts of things on top of your rent each month. Make sure you budget enough money to cover gas, electricity, water, council tax, TV licence, and food.
2. Read before you sign
Take the time to properly read through the rental agreement before you sign it. Make sure you know how long the lease is for and how much notice is required on either side to end it.
A lot of landlords use a property management company to handle things for them, so make sure you know exactly who is in charge of managing the property and who you need to contact with any issues.
3. Get insured
When you rent a property the landlord is still responsible for the building itself, but you need to make sure you get contents insurance to cover all your belongings. You can find out more about contents insurance from HomeLet to make sure you get the cover you need.
4. Make it yours
Check which appliances come with the property before you move in. At the very least you want there to be an oven, fridge/freezer and washing machine in the house. When it comes to all the other bits and pieces like a toaster and kettle then shop around for the best prices. You can also check freecycle to see what home furnishings you can pick up for free.
It’s most likely that you won’t be able to make too many changes to the property but you can still make it yours with colourful cushions, flowers and plants and removable artwork on the walls.
5. Read the meters
As soon as you move in make sure you take readings from the gas and electric meters.
6. Switch things up
Once you’ve taken your meter readings take a few extra minutes to see if the energy supplier at the property is the cheapest available.
As a renter you have every right to switch suppliers and chances are you’ll be able to save some money by shopping around.
7. Take a detailed inventory of the property when you move in.
And ideally take photos of each room. The letting agency should do an inventory themselves, in which case make sure you get a copy and walk through the property to make sure you agree with it. If you’re not happy with anything then challenge it straight away.
If you’re not given an inventory then do one yourself and send a copy of it to the agency as soon as you can after moving in.
And while you’re doing all these checks, don’t forget to find out where the stopcock is in case of a plumbing emergency.
Hopefully with these 7 quick tips renting your first home will be nice and straightforward and you can concentrate on enjoying yourself. I know once my friend and I were settled in our first rental home we had an absolute blast and I’ll always remember that time with a big smile on my face.