Lease Basics: What You Need to Know Before You Sign

Thinking about renting a place? The first step is figuring out what kind of lease fits your lifestyle and budget. A lease is simply a contract that outlines how long you’ll stay, how much rent you’ll pay, and what both you and the landlord are responsible for. Keep it short, read every clause, and ask questions if something feels unclear.

Most leases run for 12 months, but you’ll also find six‑month or even month‑to‑month options. Shorter leases give flexibility, while longer ones often lock in a lower rent. Decide what matters more to you: stability or freedom.

How to Spot a Good Rental Property

Start with a quick online search on sites like Loncor Property Solutions. Look for listings that mention key details – rent amount, deposit, utilities, and any extra fees. If a property advertises “all bills included,” double‑check what that covers. It can save you from surprise costs later.

When you tour a place, pay attention to the condition of the walls, windows, and appliances. A well‑maintained home usually means a responsive landlord. Take photos of any existing damage and note it in the lease to protect your deposit.

Rent Budgeting Made Simple

Most experts say rent should be no more than 30% of your gross income. If you earn £30,000 a year, aim for a monthly rent around £750. Use our “Rental Property Profit” guide to see how much you can realistically afford after factoring in council tax, utilities, and internet.

Don’t forget the upfront costs: a security deposit (often one month’s rent), a first month’s rent, and possibly a holding deposit. Some landlords also ask for references or a credit check. Budget for these before you start looking.

If you’re sharing a house, the math changes a bit. Split the total rent and bills with flatmates, but also discuss how you’ll handle shared expenses like cleaning supplies or repairs. Our “Shared House‑Living” article gives practical tips on setting up house rules and avoiding conflict.

Before you sign, read the lease agreement line by line. Look for clauses about early termination, sub‑letting, and pet policies. If anything seems vague, ask the landlord to clarify or add a written amendment. It’s better to sort it out now than to face a dispute later.

Finally, keep a copy of the signed lease for your records. Store it digitally and in paper form, so you have proof of the agreed terms. If you ever need to reference it – for example, when disputing a charge – you’ll have it handy.

Renting can feel overwhelming, but breaking it down into simple steps makes it manageable. Use the tools on Loncor Property Solutions, budget wisely, and never sign anything you don’t fully understand. Happy house hunting!