Budgeting and finances

Guiding you through the renting process

Step 6 - Budgeting and finances

Money

Budget carefully - allow for council tax and the cost of all utilities, which you'll normally have to pay for.

However, if it's a short-term let, the council tax and some utilities may be included in the rent.

You can find out the cost of council tax from your local authority and get quotes from insurers to cover your possessions. Make sure you always compare like with like - most tenancies express the rent as £X per calendar month which is about 4.35 times the cost of a weekly rent.

Once you think you have found somewhere you like, things to ask the agent are:

  • What bills (if any) are included in the rent? Are there any charges for the cleaning of communal areas etc?
  • How much is the deposit and when is the rent reviewed?
  • If you are on local housing allowance or a student, will they consider you?
  • Will they accept guarantors?
  • Will there be a fixed term in the tenancy and, if so, for how long? Is the tenancy extendable after the fixed term has ended?
  • How many people have viewed it already and how long has it been on the market for? If there is lots of property available to rent locally, you may be able to negotiate the rent down.

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