Renting Property in the UK - Financial Checklist
Location. Different boroughs (suburbs or neighbourhoods) in London and the UK have a different lifestyle and price associated with them. So research your chosen location well before you move so you know what to expect.
Transportation links. Before signing a lease anywhere, you should be sure to walk to the nearest transportation links, catch the bus, train or tube at rush hour and see how long it takes you to get to other key areas. In general, though, walking proximity to a Tube or British Rail station is highly sought after. A bus stop nearby is the next best thing.
Furnishings. Most UK flats and homes are rented furnished, with basics. If a flat is advertised as furnished, be sure to determine exactly what is provided. If something is in a particularly poor state, ask to have it replaced; it is the landlord's responsibility to provide the basics, in good repair, in a furnished flat.
Bond. Most, if not all, rental arrangements will require you to pay a bond, which is usually equivalent to a full month's rent. You will usually get this bond back after you have moved out and the place has been inspected.
Estate or letting agencies. Unless you find flat-shares through friends, or magazines and websites, most of the ads for flat rentals in the newspaper are through estate, or letting, agents. Agents have shops across the UK and they should be able to offer you advice, ideas and information on what they have available. Some agents have better reputations than others but as long as you ask questions and read your lease very carefully you should have a good experience.
Flat mates. Can make living in London, and other major cities, affordable and fun. Often people at your work will know someone with a room available. In general you should not have a problem finding an affordable location. One word of advice: if you are signing a lease for a three-bedroom flat, you should try to be sure that you have three people ready to move in who are planning to stay for the duration of the lease. Assuming you will always be able to find someone suitable to fill up the flat can lead to headaches and financial distress.
Council Tax is a compulsory tax levied by the local government or borough council and is paid by all residents of that borough or neighbourhood. When you sign a lease and rent a flat, be sure you have received all the information on the Council Tax due for that property. The Council Tax invoice will be posted to your address and it is to be paid by those who have signed the lease. Budget about £50 + per person per month depending on your area.
Heating/electricity. Be sure to find out how the flat is heated. Electric heating is expensive and is therefore not ideal. Some flats and houses have gas central heating. Beware of renting a flat that shares a heating system with other flats as you lose some usage and cost control of the heating. Gas and electricity could be around £50 per month as a general budget figure.
Water. Water utility charges vary from area to area, but you need to allow around £20 per month.
TV licence. The UK requires all those who own a TV to pay for a TV licence. An annual colour TV Licence costs £131.50 and a black-and-white licence costs £44.00. Detection of nonlicence payers is intense and the fines are huge. Contact www.tvlicensing.co.uk/ to organise payment.
Telephone. Many people prefer to use a mobile phone rather than get a landline for their flat. This is a great idea if you are sharing your accommodation as it saves arguments over the phone bills. If you want a landline you will need British Telecom (BT) to install it (at an additional cost) and it will then cost you around £12 per month standing charge plus calls; www.bt.com.
