Do you rent alphabetically? A is for absolutely not, we’re guessing. But everything needs to go in some sort of order, doesn't it? We’ve marshalled our best renting knowledge into a 26-point handy guide. It’s like we’re spelling it out for you.
A is for AI
What’s not to love about Google Assistant or Amazon’s Alexa? On hand 24 hours a day to answer the silliest questions, versions of these artificial intelligence titans are now being built that help letting agents and apartment block owners manage your property. Expect to speak to one soon.
B is for Bedroom locks
Most people choose to live in a shared house at some point in their lives, but it can be unnerving when your housemates all have private doors locks for their bedrooms. They’re cheap - around £20 if you fit it yourself - but potentially disastrous if you lock yourself out and are forced to sleep on the sofa.
Invite friends to CreditLadder and receive Amazon vouchers after they report their first month's rent
C is for Credit referencing
Ten years go few people thought about their credit score. Now, after mortgage lending has become more tightly regulated and house prices have spiralled upwards, possessing a clean credit profile has become more and more important. Read our ultimate guide to credit scores.
D is for Deposits
Deposits paid by tenants when they move into a house are usually six weeks’ rent and can run into thousands of pounds, but a landlord or letting agent can’t just stick it in their bank account; by law they must register it with one of the three government-approved schemes within 30 days of receiving it. Ensure you landlord or agent does.
E is for Eviction
Evictions are a contentious issue in the UK. Landlords think it’s too difficult and expensive, and tenants complain that it’s too easy. There are two types; Section 21 notices which are ‘no fault evictions’ which can be served after the fixed rental period finishes (usually six months) and Section 8 notices, which can be served at any time if a tenant misbehaves or fails to pay the rent.
F is for Fees
Rejoice! In April 2019 all fees charged by letting agents or landlords to tenants will be banned. The only exceptions to these new rules are rental deposits and holding fees, which will be capped at five weeks’ and one weeks’ rent respectively.
G is for Guarantor
Do you have a bad or non-existent credit score and you’ve failed referencing? Then some landlords and letting agents will allow someone else to be your rent guarantor. This means if you fail to pay your rent, they pay it instead.
H is for HMO
HMO stands for Houses of Multiple Occupation which are shared houses where no one knows each other, and they rent the rooms individually but share communal facilities such as bathrooms and the kitchen. Everyone pays rents by themselves, rather than as a group.
I is for Inventory
An inventory is a document that lists all the items within a flat including the furniture and both describes and captures on camera what it looks like before a tenant moves in. The idea is that if a chair is broken or a mirror chipped during your tenancy, for example, there can be no arguing over whose fault it is.
J is for Joint Contract
A joint contract is when a group of friends take on a tenancy together or in other words ‘jointly’. All of them are responsible for paying the rent and looking after the property, as a group. If a person leaves, the others must pay their rent until a replacement can be found.
K is for Kitchen rota
What a dish! That’s what you might think your fellow tenant looks like, but all too often they are hopeless at cleaning up after themselves in the kitchen. Time for an old-fashioned colour-coded kitchen cleaning rota. Where’s the Faireeey?
L is for Landlord
Landlords have a bad reputation, created by a heartless and greedy minority who give the rest a bad name. Until recently, these bad apples could operate without fear of retribution or even prosecution, but many cities are now bringing in renegade landlord registers, including in London and Manchester.
M is for Mortgage
French for ‘death debt’ mortgages are dull at the best of times, but they get interesting when they help people buy properties. If you’re in need of a refresher, read our ultimate guide to the world of mortgages.
N is for Notice
Giving notice is when a tenant tells their landlord they wish to end their tenancy and move out, or when a landlord tells a tenant the tenancy is coming to an end. Both must be notified in writing at least a month before the move-out date.
Invite friends to CreditLadder and receive Amazon vouchers after they report their first month's rent
O is for Ombudsman
There are two ombudsman bodies within the property sector who process complaints about letting agents or managing agents. These are The Property Ombudsman and The Property Redress Scheme. Agents must join one of them, so you’ll have to check which one your letting agent has joined if you’ve got a complaint against them. But these bodies are not regulators; they only arbitrate between warring sides.
P is for Pets
The UK is often described as a nation of pet lovers, but that doesn’t include landlords, two thirds of whom won’t allow tenants to keep pets in their homes, research suggests.
Q is for Questions to ask
Letting agents often say their tenancy contracts are ‘standard’ but often they’re not. Things to watch out for include clauses banning pets, preventing smoking within a property, restrictions on how a property can be used (e.g. to run a business) and who is responsible for maintaining the white goods.
R is for References
A reference is a financial, employment and background check on a tenant completed by a landlord before they move in, and traditionally tenants were charged for them. But from April 2019 onwards it will be illegal to charge tenants any fees and that will include for referencing.
S is for Subletting
It’s tempting to rent out the spare back room in a house to one of your mates to help reduce the rent bill, but the tenancy agreement will - most likely - include a clause banning it. If you do sub-let, be aware you all risk being evicted for breaking the terms of your tenancy.
T is for Three-year tenancies
The government - and many housing charities - have said tenants should be given more security in their tenancies and, should they wish, be offered guaranteed tenancies of up to three years. A consultation was conducted recently on the subject by the government and a decision is expected soon. Read our guide to the issue.
U is for Unbecoming landlord behaviour
Some landlords like to treat their rental property as if it was their home, not yours. But landlords cannot wander in and out of your rented home at will; there are rules they must follow. Read our popular guide to landlord access.
V is for Verbal
Some weird landlords won’t agree to a written contract and say that a verbal tenancy agreement will suffice. This is a very bad idea - they are very difficult to enforce because there is no evidence of what was agreed. If a landlord won’t offer a written tenancy agreement to sign, it’s usually a sign they’re dodgy. Walk away.
W is for When can the landlord put up the rent
During the fixed term (usually six months) of a rental contract the rent cannot be increased without the tenant agreeing to it. The contract will set out how often the rent can be increased after the fixed period ends - usually once a year - and by how much (most say “to keep pace with market rates” or similar) so examine the contract carefully before signing it. Read our guide.
X is for Xylophone
Living communally with other tenants can be both a joy (ready-made new friends) and a pain. The problems come when new flatmates have anti-social activities, such as playing their xylophone late a night. Seriously, though, some people have some terrible habits. Read our guide.
Y is Your rent is more than a mortgage
The housing market is an unfair place to live in the UK, and has been for some time. Mortgage interest rates have been rock bottom since the financial crisis and that means often the same property would be cheaper to buy than to rent. By that, we mean a comparison between monthly rent and monthly mortgage payment. Read our guide to the differences.
Z is for Zombie
You may have heard about vampire landlords and ghostly handymen, but have you met zombie house mates. Known to communicate only by grunts, and to stumble in and out of the house with fixed expressions, they are only active at night.
CreditLadder can help you improve your credit score
If you want to improve your credit position by reporting your rent payments, CreditLadder is the only way to improve your credit score and position across all four of the main Credit Reference Agencies in the UK, namely Experian, Equifax, TransUnion and Crediva. Building up a high credit score has a lot of benefits, including helping you access finance at better rates - this can also help save you money.
CreditLadder also runs a free mortgage application service in partnership with Tembo which will tell you how much you could borrow.
Remember the information provided in this article is for information purposes only and should not be considered as advice.
