How to get a rental deal you can live with

Searching for a home to rent can sometimes feel like a stressful second job.

You’re scrolling through homes in every spare moment and viewing potential properties in the evenings and at weekends, all while your move deadline looms closer.

So, when you find somewhere that feels right, you’re understandably keen to make it your home.

This step-by-step guide will help you seal the best deal.

Research the asking rent for similar properties in the area and how quickly they're being snapped up.

The more you know the market, the more equipped you are to make an offer at the right price.

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Once you’ve done your research and viewed a few properties, you’ll have a good sense of how speedily you’ll need to act.

If people are queueing outside the door while you’re viewing, or if you keep finding properties have gone by the time you make an offer, it’s a sign you need to step on it.

In these circumstances, you may need to make an asking price offer during a rental viewing, on the proviso it is taken off the market immediately.

A landlord doesn’t have to accept your offer, no matter how generous it is.

They may value a trouble-free tenant who pays on time and keeps the place in good condition more highly.

Down the line they’ll want to see references and proof of earnings, and they'll run a credit check too.

The references and checks for renting

But first impressions also make a difference. Be punctual and polite, whether you’re meeting the agent or owner.

The owner will have the final say (unless they’ve instructed the agent to make a decision), but it never hurts to be in the agent’s good books too.    

If the local market isn’t moving quickly, you may be able to haggle.

So if the property has been available for more than a month or could do with a new coat of paint, you can add these to your negotiating armoury.

Be specific about the rent you’re willing to pay. For example, state you’ll pay £750 a month for a home that’s on the market for £800 – rather than simply asking to pay less.

In the heat of the moment, for a home you’ve fallen in love with, it’s tempting to stretch yourself too far.

If your earnings don’t sufficiently cover your rent, this will trip you up later in the process – financial checks usually require rent to be no more than 40% of your gross monthly income.

The beginner's guide to renting costs

There may be a good reason you can’t prove your earnings. In that case, it’s a good idea to ask someone to be your guarantor (usually a parent).

Being a guarantor means they’ll cover the rent if you’re unable to. Mentioning this when you make an offer could swing the landlord your way. 

Landlords love guaranteed income, so if you’re able and willing to pay for several months in advance they may give you a discount.

As mentioned above, landlords might want a guaranteed income, which means they could be tempted by a longer tenancy agreement.

If you’re happy to commit for two years or more, the landlord could save on remarketing costs while you won’t have to fork out to move.

A fixed long-term rent, or at least an agreed cap on any yearly increase, gives you security and protects you from large increases if the market heats up.

Working with dates that suit the landlord will also play in your favour.

Perhaps they’ll need to move back in at some point – find out when that is and, if reasonable, agree to end the tenancy then.

Or offer to leave at a busy time of year (usually the summer), so they can find a replacement more easily. 

And the sooner you can move in after the previous tenant has left the better – an empty property is an expensive one for a landlord.

You’re unlikely to be able to change your rental contract once it’s signed, so make sure it's got everything you want in there.

This might be a break clause which allows you to leave early if you’re not happy.

Equally, now is the time to agree (and get down in writing) any improvements that you want made to the property before you move in. 

Understanding your rental contract

Like all relationships, the best landlord-tenant ones rely on openness and trust.

And it works both ways. Your landlord shouldn’t promise to fix something tomorrow and turn up next week, and you shouldn’t hide how you’re using the property.

If you’ve got a pet or children, mention them at the start – you may be able to convince someone the kids’ toys are yours, but the dog basket is a real giveaway.

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