Renting for the first time.

Alphington

Alphington

Alphington

Permabanned
Joined
14 Sep 2011
Posts
173
Hi guys.

I am thinking of moving out of my sisters and her boyfriends house and renting a house/flat with 2 other friends.

We are all quite young, me 20, and they are 19 and 18.

2 questions really. My credit rating isnt great. Will that money? Can all the rent money / bills come out of one of mates account and we pay him monthly?


Also, a lot of the flats / houses advertised dont include bills. I know this is a hard question to get right, but roughly how much monthly will all the other bills come to?


Regards
 
Alphington said:
Hi guys.

I am thinking of moving out of my sisters and her boyfriends house and renting a house/flat with 2 other friends.

We are all quite young, me 20, and they are 19 and 18.

2 questions really. My credit rating isnt great. Will that money? Can all the rent money / bills come out of one of mates account and we pay him monthly?


Also, a lot of the flats / houses advertised dont include bills. I know this is a hard question to get right, but roughly how much monthly will all the other bills come to?


Regards
Click to expand...

Click search, search for 'rent'.
 
I always set aside at least £50 per month for utility bills, but it could be more or a lot less. Don't forget council tax and if any maintenance. Depends on location...

There's lots of things to think about other than the financials, this can also affect your social/relationship with your friends you're moving in with, as you'll be seeing them all the time. Have your friends ever rented before? The guy paying the rent will expect your committment to pay him ontime, so maybe you should also draw up a personal memorandum to honor this...
 
You can have everything coming out of 1 account but most landlords will say that you need to earn £xxxxx per year to rent the property and if that 1 persons wage doesn't cover it they won't take yours into account unless you are on the paperwork which means they would also have to take your credit rating into consideration

I live in a small flat with my girlfriend at the moment and we pay between £1400 and £1500 a month on bills and food but that is up north so consider doubling that if you are down south
 
If you want to get a good idea of how much your going to need monthly visit a letting agent. They should be able to give you an idea of how much you'll need.

If you do rent somewhere make sure the person who sorts out the money is trustworthy, not saying your friends aren't but it never hurts to be doubly sure. I know a couple of people who have been left in dire straits by so called friends.
 
Can't help with bills, ours are included in our rent.

As for being young, they might ask for a guarantor - parent or the such like who would bed able to pay the rent if you fail to, however they might not....

kd
 
SuBsTaNcE said:
You can have everything coming out of 1 account but most landlords will say that you need to earn £xxxxx per year to rent the property and if that 1 persons wage doesn't cover it they won't take yours into account unless you are on the paperwork which means they would also have to take your credit rating into consideration

I live in a small flat with my girlfriend at the moment and we pay between £1400 and £1500 a month on bills and food but that is up north so consider doubling that if you are down south
Click to expand...

£187 a week each on food and bills?

Bro, you crazy.
 
Ok, firstly you have to find somewere nice that you want to live. Try the local paper first since renting private is normally cheaper. If you do rent from a agent you might have to go through a `credit check` i am sure this is just some ******** reason to get money off people I remeber it was like £125 for a single or £170 for a joint credit check but you could get at least one of you to get checked and pay him/her or you can rent with all three of you on the agreement (Probably best idea imo)

You will get some bills if you are planning on a 3 bed house or so I would imagine it would be around £120 a month for gas/lecky and £40 or so for water then you have council tax which for a 3 bed house is normally a band D or so at about 110 a month. £12 a month for a TV licience. Broadband/TV/phone if you want it but in my experience you should stay away from having a house phone ( i lived with some dude who had a german G/f and she used the house phone to call her parents running up a bill of like £400 then ****ing off back to germany before paying it )

But yeah most of the costs just come with living by yourself tbh and went you take that step most people dont realise how much **** they dont have to pay for acutally costs!.
 
rent 425
c tax 85
gas 25
water 20
elec 40
tv licence 13

around what i pay out for a 2 bed flat, then stuff like sky 41 quid, food 120.

looking around 760-800 to run a flat.
 
SuBsTaNcE said:
You can have everything coming out of 1 account but most landlords will say that you need to earn £xxxxx per year to rent the property and if that 1 persons wage doesn't cover it they won't take yours into account unless you are on the paperwork which means they would also have to take your credit rating into consideration

I live in a small flat with my girlfriend at the moment and we pay between £1400 and £1500 a month on bills and food but that is up north so consider doubling that if you are down south
Click to expand...

Oh, and what planet are you on again?
 
Alphington said:
is that what just you pay each month?
Click to expand...

if you are planning on sharing with 3 people you would have to increase the council tax, lecky, gas and water becuase you will use more but yes thats probably not far away from what you would pay to run a house.
 
SuBsTaNcE said:
You can have everything coming out of 1 account but most landlords will say that you need to earn £xxxxx per year to rent the property and if that 1 persons wage doesn't cover it they won't take yours into account unless you are on the paperwork which means they would also have to take your credit rating into consideration

I live in a small flat with my girlfriend at the moment and we pay between £1400 and £1500 a month on bills and food but that is up north so consider doubling that if you are down south
Click to expand...

Do you eat caviar for breakfast?
 
You must log in or register to reply here.
Back
Top Bottom