Renting a new place is exciting — but if you’re not careful, hidden costs can quickly add up and blow your budget.
Here’s what you need to watch out for before you sign that rental agreement!
1. Holding Deposits
Some landlords or agents ask for a holding deposit to reserve the property.
By law, it’s capped at one week’s rent — and you should get it back if the landlord pulls out.
2. Agency Fees (Mostly Gone, But Be Careful)
Since the Tenant Fees Act 2019, most admin fees are banned.
However, you may still face late payment fees or lost key charges — always double-check!
3. Utility Setup Fees
Setting up internet, electricity, or gas might involve:
- Installation charges
- Higher rates for short contracts
Pro Tip: Ask for previous bills to estimate your monthly utility spend.
4. Council Tax
Students are usually exempt.
Everyone else must budget for this monthly bill, which varies depending on your property’s band.
(Example: A Band B property in Leeds costs approx. £1,500/year — around £125/month.)
5. TV License
If you watch live TV or BBC iPlayer, you legally need a TV licence (£169.50/year).
6. Insurance
You might need contents insurance for your belongings — around £5–£10/month depending on coverage.
7. Furnishing and Essentials
Unfurnished rentals mean you’ll need to buy beds, sofas, tables — plus unexpected costs like:
- Kettles
- Curtains
- Lamps
8. Moving Costs
Van hire or professional movers typically cost between £150–£400 depending on distance and size of the move.
9. Rent Increases
Some contracts allow annual rent increases — always ask about this before signing.
10. Exit Cleaning Fees
Some tenancy agreements require a professional clean before you move out, which can cost £100–£300.
🎯 Final Thoughts:
Renting smart means budgeting beyond just “rent per month.”
Understanding hidden costs upfront avoids nasty surprises and lets you manage your money better.
At LiveRentBuy.com, we make it easy — helping you find properties with no hidden surprises.
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