Things to consider when setting up a new tenancy

9th November 2021

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.

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