Renting a house is an more and more in style selection, with the Authorities’s current English Housing Survey revealing greater than 8.6 million renters within the UK, protecting each the social and personal sectors. This equates to 36% of households, in comparison with 35% that personal their dwelling outright, and 30% which can be mortgage holders.
While it provides an enormous variety of advantages, renting is usually a advanced world to navigate, with myths and misconceptions abound. Fortunately, Nick Woodward, lettings director at property firm Essential Living, has debunked a few of the most typical myths about renting a house within the UK, shedding mild on the realities and empowering tenants to make knowledgeable choices.
1. Renting Is At all times Extra Costly Than Shopping for
It’s a typical perception, however the actuality is that the cost-effectiveness of renting versus shopping for closely is dependent upon a number of components. These embody the present housing market, your location, and the way lengthy you propose on residing someplace. Do not forget that the price of shopping for a house isn’t simply in regards to the mortgage; it consists of different bills like property taxes, constructing insurance coverage, and upkeep, and promoting prices down the road, which might add up.
In the event you’re renting, you don’t have to fret about any of these prices and as a substitute are solely chargeable for your month-to-month hire. You additionally gained’t want to save lots of up the tens of 1000’s of kilos wanted for a home deposit.
2. Renting Means You’re Throwing Cash Away
Whereas it may appear that paying hire doesn’t get you something in the long term, this angle overlooks the numerous advantages of renting. As an example, it supplies flexibility, doesn’t tie up your cash in a property, and frees you from the prices and duties of dwelling possession.
Gone are the times the place individuals get a life-long job of their hometown and purchase a home close by. At this time, individuals have a tendency to alter jobs each few years and renting permits the pliability to relocate as wanted. For a lot of, the monetary value of renting is definitely worth the freedom to maneuver about as they please.
3. Landlords Should Give 24 Hours Discover Earlier than Coming into
It’s a typical false impression that landlords all the time have to offer 24 hours discover earlier than getting into their property occupied by a tenant. Whereas the Housing Act 1988 stipulates that tenants have a proper to quiet enjoyment within the property, a landlord might want to achieve entry to the home to fulfil obligations reminiscent of making certain fuel security and electrical inspection are carried out. They might additionally want to entry the property to conduct viewings when the present tenant is transferring out.
Whereas a landlord should present written discover at the least 24 hours’ prior to those visits, they’re permitted to entry the property in excessive conditions reminiscent of an emergency the place there’s a hearth, a robust scent of fuel or water flowing from the property. Exterior of those circumstances nevertheless, a tenant is inside their proper to refuse entry until written discover is supplied.
4. Pets Are Not Allowed
Many landlords have restrictions on pets, but it surely’s not a tough and quick rule that you could’t have pets in a rental property. Every landlord can set their very own guidelines, and a few are fairly accommodating. Tenant’s ought to get written consent from their landlord ought to they want to preserve pets at their property.
Present authorities plans for rental reforms recommend that quickly all tenants will have the ability to preserve a pet of their property in the event that they get written consent from their landlord. If a landlord refuses, and the tenant thinks it’s unreasonable, they’ll have the ability to problem the choice by the courts or a brand new Personal Rented Sector Ombudsman.
Proudly owning a cat or canine in a flat does require some additional considerations nevertheless, particularly as house could also be restricted. Some recommendation consists of placing a constant day by day strolling and toileting routine in place and pushing furnishings towards the partitions to maximise ground house to your pet to roam round.
5. Lease Costs Are Non-Negotiable
Many individuals consider that the rental value listed is ready in stone, however this isn’t all the time the case. It’s usually attainable to barter the hire, significantly when you’ve got good references, a gradual revenue, and are keen to decide to an extended lease. With hire costs fluctuating and altering on a month-to-month foundation, letting brokers don’t all the time get the worth proper, so typically you may discover that your barely decrease provide will get accepted and saves you some cash.
6. You Can’t Adorn or Make Modifications
Many individuals suppose that as a renter, they haven’t any freedom to brighten or make adjustments to their dwelling. Whereas it’s true that vital modifications often require the owner’s permission, many landlords are open to affordable adjustments, particularly if they could enhance the property. Even when a landlord isn’t totally supportive of your selection of wall color, they’ll usually be keen to help you perform the adorning so long as you come back issues to the best way they have been if you finally transfer out.
With so many design-conscious renters as of late, there’s a booming marketplace for renter-friendly decor that doesn’t trigger everlasting adjustments to your condo, reminiscent of stick-on tiles or sticky hooks for hanging artwork. At all times verify your tenancy settlement or get written permission out of your landlord when you want to adorn.
7. A Landlord Can Hold Your Deposit With out Purpose
This isn’t true. Landlords can solely make deductions from the deposit for particular causes like unpaid hire or prices for repairing any injury past regular put on and tear. Deductions from the deposit are to compensate a landlord for an expense. In case your landlord has made a declare to a portion of your deposit, all the time guarantee to ask for a breakdown together with photos of the injury in addition to any receipts for work achieved.
Deposits must also be protected in a government-approved tenancy deposit safety (TDP) scheme, making certain a good course of for each events. In case your landlord has not achieved this and supplied proof to you after you moved in, you’ll be able to apply to your native county courtroom who can get them organized to both repay it to you or to deposit right into a TDP scheme. The courtroom might also order the owner to pay you as much as 3 times the deposit.
8. Landlords Can Enhance Lease Every time They Need
Whereas landlords can elevate the hire, they can’t accomplish that indiscriminately. Most tenancy agreements specify when and the way the hire will be elevated. For periodic tenancies, landlords should present acceptable discover, and the rise have to be honest and life like (according to the native market). They might additionally not enhance your hire greater than annually with out your settlement.
For a fixed-term tenancy, you should agree to ensure that your landlord to extend your hire mid-tenancy. In any other case, the hire can solely be elevated as soon as your tenancy ends.
9. Renting Doesn’t Have an effect on Your Credit score Rating
Whereas historically this was the case, since 2017, credit score companies can embody hire cost histories when calculating credit score scores. Paying hire on time can subsequently assist construct an excellent credit score rating.
To allow this, tenants can enroll with a associate of The Rental Alternate, an organisation who can confirm your common hire funds and add them to your credit score report, enabling you to construct a constructive credit score historical past and get authorized for loans in future.
10. Landlords Are Answerable for All Repairs and Upkeep
Whereas landlords are chargeable for many repairs, tenants even have duties. Usually, tenants should handle the property and perform small upkeep duties, reminiscent of:
- altering mild bulbs and smoke alarm batteries
- conserving your private home fairly clear and well-ventilated
- conserving the backyard below management
- ensuring your private electrical home equipment are secure to make use of
Your tenancy settlement will often go into element into what your duties are as a tenant.
