Research suggests that people older than 35 are staying in shared accommodation rather than renting alone or buying their first homes – which has risen faster than younger age groups over the past 5 years. (*)
By sharing accommodation it's often possible to live in a better property or in a better area than you could afford otherwise and Reeds Rains estate and lettings agent are providing tips on how sharing accommodation can work for you.
Hannah Davis, area lettings director for Reeds Rains says: “A popular reason people choose to share is the social benefit as well as it being more affordable. It is important to take your time to make sure you choose the right people to live with as well as the right location.
When deciding whether a person is suitable to share with it is a good idea to meet them and ask them a few questions to get to know them. You could ask; what time do you get up in the morning? What time do you go to bed? Do you smoke?
While considering the property, look carefully at the contract as it will highlight all the important information you need to know. It will tell you when the scheduled house inspections take place along with the required cleaning standards and the penalties for late rent.
You may also require a guarantor who agrees to co-sign the tenancy agreement and becomes jointly liable for any tenant obligations. A guarantor may need to complete an application form and be referenced before a tenancy can be considered. The guarantor will also have to sign the deed of guarantee before the tenancy can proceed.
Ask for a list of all the furniture in the property and check the condition which it is in. At the viewing, take the list with you, check it is accurate and take photos of any worn or damaged items. Keep a date and time of when the photos were taken to resolve any disputes which may arise at a later time.”
If you would like to find out how Reeds Rains can help you as a landlord or tenant, log on to www.reedsrains.co.uk to find your local Reeds Rains branch.