Tenants – Help on rental costs is coming…Next Year
There is a lot of talk about the initial costs of buying a home, and it is good to see that assistance is offered to first time buyers. However, what about first time tenants or people looking to move into rental property? At Liberty Gate, we know that there are many expenses involved with moving into rented accommodation, some of which can be expensive, including:
- The first month’s rent
- The deposit for the property
- Letting fees
- Removal costs
These four factors can soon add up. With the deposit for the property sometimes being the equivalent of two month’s rent and letting fees varying per agency, many new tenants find themselves with a large bill when they move into a property. This can make life miserable in the early days of being in a new home, and it can even prevent some people from moving into new rented accommodation.
Grab the help you need to move into rented property
Thankfully, help is on the way but sadly, this help won’t arrive until next year. The Government has announced plans to ban letting fees and it is looking likely they will impose a cap on how much a tenant must pay for a deposit. These moves are a step in the right direction but it seems as though these changes will not come into effect until spring of 2019.
There is however plenty of help around now and at Liberty Gate, we are keen to assist you any way that we can. We know that there are many questions regarding renting property and becoming a tenant. We are more than happy to help you understand your circumstances and if you would like guidance on how to become a tenant, we are more than happy to help.