Hi lovelies,

Renting out a home for the first time? Below are a few tips to consider before you sign that tenancy agreement and move into your new place.

Spend time saving for the deposit
The average US security deposit is about $700. While this is a lot cheaper than your average mortgage down payment, it’s still a cost you may need to save up for. Spend time saving up for this security deposit before your move out rather than using a credit card or loan. You may also want to save up for other initial costs like furniture.

Don’t rush the property search
Make sure that you’ve spent time looking at all the listings for rent in your area. Schedule viewings for a few different properties - don’t accept the first property you view (unless you’re absolutely certain it’s the one). Make sure to also spend time weighing up the pros and cons of each property. This will reduce the chance of moving into the wrong property. 

Read the tenancy agreement
It’s important that you know exactly which tenancy terms you’re agreeing to. Are you allowed pets? Do you have full exclusive access to the property (i.e. the landlord isn’t using the shed or attic to store their belongings). If you’re moving into a property with other people, will you be expected to pay their rent if they don’t pay up? These are all important things to look into. Avoid renting from a landlord that doesn’t provide a written tenancy agreement.

Take photos when moving in
It’s a good idea to take photos of the property when moving in so that you have evidence of the condition of everything. Some devious landlords may try to claim that a carpet stain or cracked tile wasn't there before you moved in - make sure you have photos to prove them wrong. 

Consider contents insurance
Content insurance can cover your contents against damage and theft, which may not be covered by any property insurance taken out by your landlord. It’s worth having in place in case disaster strikes. 

Look online for free furniture
Need some furniture for your new home? A new sofa or wardrobe can be very expensive. You can save money by looking into used furniture - some of which may even be free. Check out this guide to sites where you can find free furniture and appliances. 

Accept free stuff from family and friends

Grandparents, uncles and aunts may have useful furniture or appliances gathering dust in their lofts that they’re willing to give to you for free. Accept these freebies where you can - an old microwave is better than no microwave (and it could give you time to save up for something nice). 

Set a monthly budget

Many first-time renters fail to budget. This could result in you falling behind on rent or not being able to pay bills on time. Get into a habit of budgeting to avoid getting into frequent arrears. 

Take care when decorating
There are often strict rules when it comes to decorating rental properties as a tenant. Before painting a wall or even hammering a nail into a wall, make sure to notify your tenant. Long-term tenants are likely to be allowed more freedom when decorating. 

Know your rights as a tenant
Landlords have to follow many rules when it comes to increasing rent, planning visits, demanding payments or evicting tenants. Know your rights as a tenant to avoid being taken advantage of by an unscrupulous landlord. This site has information on a few basic rights.