Property to rent in Edinburgh involves few steps and is much simpler than the entire procedure of buying Edinburgh property. Infact all you need to do as a potential tenant is to find the desired property; view it; give holding deposit and references; guarantor; get an inventory; pay the first rental installment; sign the contract, transfer utility services in your name and get the keys to move in.
Mostly, this process takes around five to ten working days but it can be rushed through as well, depending on the landlord and letting agents.
Holding deposit
You are normally required to pay a holding deposit once you formally apply for a tenancy for property to rent in Edinburgh. This payment has to be made by cash or switch. The amount of the holding deposit can be nominal or as high as a month’s rent.
As a tenant you must be aware of the fact that the holding deposit is non refundable in case you pull out of the deal.
References
In order to protect their investment, the landlords are more likely to ask you for atleast three references. This is just a safety measure to ensure that you will pay rent and will abide by the tenancy agreement. Mostly private landlords ask for the phone number and address of the previous landlord, employer and bank. While letting agents will want you to fill a reference form which will then be confirmed by them or a referencing company. This will have your property details, personal details, residency details, contact details, employment and bank details and also record of any county court judgment.
Guarantor
In order to rent accommodation privately you will need a guarantor if you have not been working in the same company or not living at the same address for more than six months. A guarantor is also required if you are a student or have a job with low earnings. A guarantor is legally bound to accept the liabilities on behalf of the tenant in case of non-payment, damage to property etc.
Inventory
The inventory is a detailed report of the furniture and all contents of the property. It also has the state of repair of the property on the day you moved in. the inventory will list all rooms in the house including the major areas in each room- giving detail o f every mark, scratch, stain or damage that can be seen from the eye. It also contains the list of all the furnishings and fixtures that are being rented with the property.
You must ask your landlord for an inventory list. If he does not provide you with one then you must make one of your own and get it signed by the landlord. This will help you later in covering your back in case of any dispute.