There are many people around the world that are finding it tough financially. With the present state of the economy the stress of finances is enormous. Many people are looking for free financial tips so that they can get back on track financially. You may be interested in this article if you are looking for financial advice.There's no such thing as a free lunch, and that especially applies to supposedly free financial advice. Here's how to spot them so you don't get stung.


Thursday, 28 February 2013

Make sure you consult a solicitor when you are renting your home

By Adrian Perkins


These days, when it is so hard to buy a home, renting is on the increase. Firstly it offers more flexibility and secondly the deposit for a a rented property is so much lower than the amount needed for a deposit for a mortgage. When you are looking to rent somewhere, you may find a room in someone's house or decide to rent a flat or house through a letting agent. One will see much less formal that the other, but in each case you need to make sure you know what is expected of you and your landlord. A lawyer will be able to go through the details of renting with you.

When you rent a property, you are known as the tenant. It is really important that you have a proper tenancy agreement. There are two usual kinds of tenancy. The Assured Shorthold tenancy it a short term tenancy - usually about six months. It gives you the right for the given period only and no right to stay any longer. The Assured tenancy is a different agreement that gives the tenant more rights, particularly if you want to stay beyond the initial agreement. There may well be other stipulations in the agreement, perhaps referring to keeping animals or using the communal spaces. It is worth having a lawyer look them over to make sure you know what will be expected of you.

I:26:J

When you are looking for somewhere to rent, you will need to consider various points. How long you want to rent for? What notice will the landlord require? Are there any circumstances in which you might be evicted? How do you end the tenancy? You will probably want to know when and how the rent should be paid. Also find out what would happen if the rent is paid late. Will you have to pay a penalty or will they charge interest?

If you are renting, you will have to pay a deposit. Until recently the landlord could use the deposit how he wished, but now he must place the money in a deposit scheme. This makes it easier if there is a dispute over the money at a later date. The landlord should tell you where the deposit is being held. You should also know who is responsible for repairs an if there are any service charges. Finally, you should be aware of what rights the landlord will have to enter your home. Sometimes there are areas he may need to access and you should know if he will tell you beforehand etc.

Renting is a popular first step to independence and home ownership. It doesn't have to be complicated, but it is worth getting everything straight with your new landlord right form the beginning and a chat to a lawyer can help that process. There are no more unscrupulous landlords than there are dodgy tenants, but disputes can arise because one side did not read or understand the tenancy agreement. Of course lawyers can advise either side at this stage, but it is much easier to speak to a lawyer before the agreement is signed. Remember, the landlord will probably have has his agreement written by a lawyer, and then possibly made some changes for each of his properties. If you don't get it checked out, then you are relying on that agreement being fair to both sides. It seems to be a big risk when it is so easy to show it to a lawyer for his opinion.




About the Author:



No comments:

Post a Comment