Renting

[shoes]

Avoid the new wave of 'reluctant landlords'! Those that can't sell and have decided to rent their property instead have no clue about renting a property out in my experience.. The main thing they can't seem to get into their heads is that the every day use of the property has so much less to do with them when it is rented out.

They tend to have very old fashioned views about 'class' and renting, and see the renter as an inconvenience rather than a lifeline for funds they desperately need. And of course they will still be continuing to try and sell whilst you are in residence, and have no idea why this might not be straight forward as it was before they had a tenant.

There's plenty of propertys to rent now, be choosey with the choice of owner, and negotiate the rent down.

[Sockpuppet]

When you ask for the deposit back make sure they pay bank interest on it as you are legally entitled to it. Not that it makes much difference now.

The new system that holds the deposits does this for you. They are held by a third party and the bank interest is split 50/50 with you and the landlord. Some gets taken for the company to run the system.

[minestrone]

Just make sure you get an inventory of all that is in the place and any damage that is currently there that they could possibly charge you for when leaving. Our front room carpet has a couple of wine stains that I made sure of noting.

We negotiated a 6 month contract with month rolling there after.

Our letting agent asks us to sign a 6 month contract every 6 months with a 50 quid charge for 'paper work' I just ignore it.

When you ask for the deposit back make sure they pay bank interest on it as you are legally entitled to it. Not that it makes much difference now.

[TimberWolf]

It looks as if my flat buyer may be close to signing contracts and I'm planning to rent for a while after I sell. Having not rented for over a decade (and then ultra cheaply), what are the pitfalls to watch out for? Is there anything to be wary of in rental agreements, e.g. the length of time you sign up for and the notice period required when you want to move?

I can't decide whether to go frugal for a while and find the cheapest bedsit I can find, which would involve my also renting storage space somewhere, or whether to spend a bit more and get something big enough to keep all my furniture. Or just burn/dump the furniture and go in-between. Storage space does seem quite pricey to rent (perhaps ~£60/month), though it does appear to work out less costly than storing it in a larger rented property.