Your Home Is Your Castle - But It Might Be Rented

Not everyone can afford to buy their home, and not everyone wants to. Renting is an option which is more popular now than at any time since Mrs Thatcher encouraged Britain to become a nation of property owners.

There are things to be careful of before you sign on any dotted lines. First of all, don't rush to rent a property without going over it with a fine-tooth comb. Don't wait until you are sitting with your feet up before you notice that the ceiling light is about to drop on your head, or that the carpet is alive with creepy crawlies.

But the money is the main thing. Know exactly what you will be paying in rent and when. Is it every four weeks or every month? There's a difference. Landlords are going to want some payment upfront that is expected. But how much is acceptable? It's usually one or two month's rent, so if your potential landlord is asking for a lot more than that try and find out if there is anything dodgy going on.

There are a lot of houses available for rent these days as people find it difficult to sell, so maybe you could negotiate a cheaper rent than advertised. You usually expect to put down one month's money as a deposit so anything more than that should be queried. It should be returned to you at the end of the lease if there is no damage to the property, so that's another reason to clear up any niggling problems with the landlord before you sign up.

Administration fees are one of the dreaded extras you have to pay a letting agent. You never know quite what they are for but they could be around 100 pounds each. If they want to charge you much more than this, or if you feel you have not had good service, try and get them to knock something off.

Management fees are different and if you rent in a block of flats you will not be able to get out of paying them. At least you can see what they are for as they cover maintenance of common areas. Check if this is something you are going to have to pay in addition to the rent, and get it in writing either way.

A holding fee is not the same as a deposit. This is money the landlord or agent holds on to while they check your references, but don't hand it over unless you are sure you want to rent the property because you won't get it back.

Once you have signed the rental contract it should be returned, or it could be offset against the rent. Check what's going to happen before you pay it. Council Tax is one of those certainties in life, along with death and other taxes. It can make a big difference to your budget. Find out what band the property is in, either from the agent or from the Council itself, and what the charge will be. (We're assuming Council Tax won't be included in the rent, but check!)

Some rentals are inclusive of gas, electricity and water but generally you have to pay your own utility bills. When you are thinking about moving into that flat with the high ceilings and all that glass, think about the cost of heating it. Sight of the energy performance certificate should enable you to judge whether it's going to energy efficient or whether your expensive heating is going to be disappearing through the under-insulated roof.

Are you currently wanting a Mortgage, visit Brokers Online and read the information about the different types of Mortgages and Remortgages. Brokers Online is a great financial web site, providing its clients with articles about Life Insurance, Debt Advice, IVA's, Debt Plans and Debt Help, Mortgages and Loans