When renting a property, it’s important to understand how your rent is calculated and what’s included.
How is the monthly rent calculated?
Multiply the weekly rent by 52 (weeks in a year) and divide by 12 (months in a year).
E.g., £100 per week: (100 x 52) ÷ 12 = £433.33 per month.
How is the weekly rent calculated?
Multiply the monthly rent by 12 (months in a year) and divide by 52 (weeks in a year).
E.g., £433.33 per month: (433.33 x 12) ÷ 52 = £100.00 per month.
Is the rent negotiable?
Rental asking prices can be negotiated in certain circumstances; however, there will be a lot of factors to consider, such as your offer as a whole, including any other offer requirements, current market conditions, competition, and how long the property has been on the market. Please discuss this with your Adleo consultant, and they will help you choose the best course of action.
What’s included in the rent?
Unless otherwise stated on the property listing, the quoted rental figure will be a “rent only” amount. All other bills will be in addition to your rent.
Will I be liable for any hidden costs on top of the rent?
There are no hidden costs as such, but unless specified otherwise, you will be liable for the council tax and utility bills.
Can my landlord increase my rent during the tenancy?
When renting, annual rent increases in line with RPI or CPI are common practice; however, if your landlord would like to increase the rent during your tenancy, the increase will have to be written into the contract, allowing you to negotiate prior to signing.
When will my rent be due?
Most rents will be due on the same date each month, coinciding with the date you move into the property.
Some landlords may ask you to pay rent on the first day of each month; if so, you will be asked to pay a prorated amount (also known as a “bridging amount”) for the first month to bring it in line with the start of the month.
How do I pay my rent?
You will be required to set up an automatic payment from your bank account to cover the rent each month. This is usually included as a clause in the lease agreement.
Cash, credit cards, or cheques will not be accepted by any agent or landlord for any of the required financial transactions.
