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Renting a Home

With house prices continuing to rise making them unaffordable for first time buyers, more and more people are opting to rent a property.

In recent years more and more properties, particularly apartments and one or two bedroom houses, are snapped up by buy to let investors, driving up prices but also making the rental market more competitive with rents generally not rising in line with property prices.

Anyone looking to rent a property is advised to make sure that they are aware of their rights as tenants. A good place to start is the DirectGov website.

A bone of contention for tenants as always been the difficulty in getting deposits back from some unscrupulous landlords or their letting agents. From 6 April 2007, new Tenancy Deposit Protection regulations came into force requiring that all deposits (up to the level of £25,000) taken by landlords and letting agents for Assured Shorthold Tenancies in England and Wales, must be protected by a tenancy deposit protection scheme.

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Even if you think that high house prices are too high, there may be an alternative to renting. If you are a council or housing association tenant, keyworker or first time buyer you may be able to take advantage of a low cost home ownership scheme. See DirectGov for more information.

There are many things for the prospective tenant to consider …the message as always is do your research!

Energy Certificates

For any property rented out after 1st October 2008, landlords must obtain an Energy Performance Certificate (EPC). So a tenant will be able to see how energy efficient the property they are renting is. EPC are valid for 10 years from when they are issued. For more information see the DirectGov website.

 

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