Make your move go as smoothly as possible

There are a lot of costs involved in renting a home. Some may be quite obvious but some you may not have thought about. Here are some useful tips to help your move go as smoothly as possible.

You’ll need to pay a deposit (usually the equivalent of a month’s rent) and the first month’s rent before you move in. Think about what type of rental agreement you need and find out what other costs you’ll have to pay.

Find out how you can make savings on your day-to-day expenses as well as on your bigger bills (such as utilities and council tax).

If you’re renting in a block of flats, the landlord will usually pay for buildings insurance, but you’re responsible for insuring your own belongings.

Make sure you remember the small things, such as checking that your credit record shows your new address and returning post addressed to previous occupiers.

Find out what help is available if you get into difficulties with your rent or have problems with your landlord.

Most landlords will expect you to pay two months’ worth of rent in advance. One is held as the deposit in case of damage or other costs (so you’ll get it back when you leave the property, minus any charges), and the other is your first month’s rental payment. Some landlords ask for a larger deposit to take account of unpaid bills. Make sure you have enough money before you start looking around to avoid disappointment.

Different savings accounts offer different interest rates and notice periods, so make sure you can access your money when you need it. Compare savings accounts to make sure you’ve got the right one for you.

If you are a student, are on a low income, your income is from benefits only, or you have a low credit score, you may be asked to provide a guarantor. They will have to sign a legally binding agreement to pay all rent and other charges due if you fail to do so.

You can choose to rent from a private landlord, or you may be eligible for council or housing association accommodation. Make sure you have a tenancy agreement clearly stating the responsibilities of both the tenant and the landlord, and read it through thoroughly before signing.

It’s important that you are sure you can afford the rent and bills, so be honest with yourself and don’t be tempted to overstretch your money to rent your dream home.

If you go through a lettings agent, you may be charged a fee for them to draw up the tenancy agreement and get references. Be aware of any additional costs and include them in your moving budget.

You’ll also need to think about whether you need help moving your belongings, and whether you need to buy furniture or other household items, so make sure you plan your budget to take these into account.

Landlords and councils will often have insurance to protect their property and any furnishings that belong to them, but they are unlikely to insure your furniture or belongings. Speak to your landlord to find out exactly what is covered.

Work out what you think your belongings are worth. Then shop around for the most suitable insurance for you.

Make sure you change your address with your bank, credit-card and insurance companies, as well as other financial companies that you have arrangements with. It might be a good idea to put a three-month redirection on your old address to cover the transition period. This can also reduce your risk of identity fraud.

Your new address may have an impact on your credit score if previous occupiers have had bad credit. You can check your credit record at your new address using credit reference agencies. You can then ask the agency to change the information on your file if it is incorrect, or it includes details about people who have no financial connection with you.

Don’t be tempted to keep or throw away mail addressed to a previous tenant/owner. Always return it to the sender if you don’t know their new address. You don’t need a stamp, just mark it ‘return to sender’ and stick it in a post box. This should avoid you having to deal with any problems if they weren’t up to date with their payments.

If you have problems with your landlord, or a dispute about the return of a deposit, there is plenty of advice and support to help you.