Things to consider when setting up a new tenancy

• Your refundable holding deposit of one week's rent per tenancy
• Your first month’s rent
• You may need to buy furniture if you rent an unfurnished or part furnished property

Once you have moved in, you will need to pay ongoing costs:

• Your monthly rental payments
• Your council tax payments
• Your utilities including gas, electricity, and water
• Phone bills, broadband and line rental

These costs will need to be considered if you’re thinking of renting a home and it’s important to keep paying your rent on time and in full to reduce the chances of your credit score being affected.

It’s worth making a note of all your monthly outgoings (including the money you spend on food clothes and activities) to help you see how much money you will have left over for rent.