A guide to renting with Diamond Move

Step 1 – Location, Location, Location

Location is the first decision to be agreed when renting. The benefits of renting is you are more able to move around from area to area in short notice, but by regularly moving can be expensive.

So researching where you want to move to is very important.

Step 2 – Setting a budget for your monthly spend

Look at your finances and work out how much you can allocate comfortably per month on rent, bills, shopping and day to day expenses. By doing this it will give you a precise amount in which you can afford on your rent.

You also need to factor in the cost of moving and securing a property.

Generally to secure your new property you will need:

  • 4-6 weeks deposit
  • one month’s rent in advance
  • agency fees may apply (administration, inventory, contract etc)

For Diamond Move Tenant Fees please CLICK HERE

These days referencing agencies use a standard formula where your earnings must be a minimum 2.5 times the amount of the rental figure to calculate the affordability of a prospective tenant. This can also give you an indication of where you budget should be.

Example:

Couple in full time work earning a combined salary of £40,000 per year. The affordability will be calculated in the following way. Please note that this may change from time to time so please confirm with one of our Property Consultants.

40,000 divided by 2.5 = 16,000

16,000 divided by 12 = 1333.33

So the above calculates that with a combined earning of £40,000 the affordability calculated is a rental per month of maximum £1333.33 excluding bills.

Step 3 – Registering your details with Estate Agents

Contact our dedicated team of Property Consultants on 02085778855 to register your details. We will go through with you what we have available and email you a list of properties matching your criteria.

Step 4 – Preparing your documents prior to going out viewing properties

The best advice we can give is to ensure that all your paperwork is ready.

Here at Diamond Move Estate Agent all our rental properties are offered to prospective tenants subject to satisfactory referencing. Documents required additional to a completed referencing application:

  • Three months recent bank statements from each tenant.
  • Three months recent wage slips from each working persons.
  • Copies of passport/visa of all persons over the age of 18 who is residing at the property.

Step 5 – Finding your property

Once you have worked out your budget and have all your paperwork ready to present to the agent, you can no go viewings to find the right property for you.

To view all available properties from Diamond Move please CLICK HERE; when you find a property that’s in line with your budget and location you can either call us or request a viewing via email.

Please note: the rental market is a fast moving market and properties are rented very quickly. We recommend you contact us at the earliest on 02085778855 to book your viewings.

Step 6 – Offers

When you have found the property that fits your criteria, you will submit an offer to the Estate Agent. At Diamond Move we advise you to give your offer verbally as well as via email at your earliest convenient. All offer will be submitted to the landlord for approval. Once approved we will then accept your offer and request a holding deposit along with the referencing fees to be transferred to our client account.

For Tenant Fees list please CLICK HERE

Step 7 – Arranging your tenancy / Moving In

Once all referencing procedures have been followed and you have successfully passed all stages. Your tenancy will now be prepared.

At Diamond Move Estate Agent, once we have concluded your referencing process we will request for all remainder of monies to be transferred into our client account.

We will then prepare the tenancy contract, Inventory and arrange for the professional cleaner to go into the property and prepare your new property for your move in date.

On the day of moving in, we will take meter readings and meet you at the property to hand the keys over and go through the property with you.

Step 8 - Tenant responsibility

Your first priority as a tenant will be to pay your rent in full and on time. Failure to do so may result in you being evicted from your property.

In your tenancy contract it will state in full your responsibilities as a tenant, here we have generally out lined the basic responsibility from you;

  • Look after the property.
  • Keep it clean,
  • Take care of any furniture and appliances.
  • Don’t attempt any repairs or decorating without first contacting your Landlord or Agent to seek permission and guidance.
  • If you notice any issues contact your Landlord/Agent to arrange repair. Not reporting minor issues that turn into major problems can be a risk to your deposit.
  • In an emergency situation (out of office hours) for instance a pipe has burst, or the boiler has stopped working contact the emergency number that will be provided when taking your tenancy.
  • Get familiar with how the boiler and major appliances work.
  • Find out where the stopcock, fuse box and any meters are located. Much better to know now, than wait for an emergency to try and find them. Ask your Landlord or Agent if you need to.
  • Last but not least be considerate to the neighbours. Anti-social behaviour could get you evicted.

Step 9 – Moving Out / Return of Deposit

First and foremost, in order to successfully move out of a property you are required to give appropriate notice. Minimum notice you should give is one clear months’ notice.

This will have to be in writing to the agent or landlord.

At Diamond Move we accept all notices in email format followed by a phone call to our office verbally advising of you wish to vacate.

Remember you still must maintain your responsibility as tenant up until you officially vacate the property.

Upon handing the property back to the agent or landlord, you must ensure the property is given back in the same state it was given to you.

At Diamond Move all properties are professionally cleaned prior to any tenants moving in. Therefore we would require the property to be professionally cleaned and handed back to us when you vacate.

On the day of you vacating one of our Consultants will attend and inspect the property thoroughly to ensure there are no damages and causes for concerns. We will also on this day take meter readings for all utilities associated with the property. We will submit the reading to the utility companies within 24hours in order for them to close down the accounts and provide the final bills.

Return of Deposit

For every tenant it’s very important that the Deposit is returned in full.

The most common reason where your deposit will be in jeopardy is Cleaning, unpaid rent and unpaid bills.

So before you move out, make sure your bill payments are up to date. Throughout your tenancy ensure you have paid your rent on time every month without fail

Give the property a professional clean before you leave so it is in ‘move in’ condition for the next tenant.

If you have rented a property that is full or part furnished, inspect the furniture and check for any damage.

If you have caused any accidental damage then do get it repaired professionally.

Step 10 – Extending your Tenancy

Should you wish to extend your tenancy after the term of your tenancy has expired, advise your agent or landlord your wish to do so. There will more likely be a rent increase so it’s important you ascertain this prior to wanting to extend your tenancy.

Please note: some agents charge to extend your tenancy, so please enquire this prior.

At Diamond Move we will get in touch approximately two months prior to your tenancy ending to enquire if you wish to extend. We will also advise at this stage to the potential rent increase if any. If you agree as does your landlord we will proceed to extend your tenancy and issue you a new contract once your current tenancy expires.