A tenants' guide to moving in
Moving into a new rental property?
Set your tenancy off right.
A tenants’ guide to moving in: Set your tenancy off right
Whether this is your first time or you’re a seasoned renter, having the right knowledge can ensure a smooth transition to your new home. Our comprehensive guide covers essential information for tenants moving in, helping you kick-start a happy and hassle-free tenancy.
Government-authorised deposit protection: Secure your deposit
When you provide a deposit to your landlord or letting agent, it must be protected by a government-authorised scheme, as required by law. Deposits are typically around six weeks’ rent and serve to cover issues like damage or rent arrears. It’s important to note that deductions cannot be made for fair wear and tear, which is considered reasonable usage of the property.
Meet mydeposits: Your trusted protection
mydeposits, established in 2007, is a government-authorised scheme dedicated to safeguarding tenants’ deposits throughout the tenancy. With a history of protecting 1.6 million deposits, we’ve got your back.
Understanding deposit protection: Know your options
There are three government-authorised deposit protection schemes, including mydeposits. Landlords and agents can choose between insurance or custodial-based schemes to protect your deposit. Under the insurance scheme, your landlord/agent retains the deposit while paying a fee. Alternatively, the custodial scheme involves transferring the deposit to the scheme for safekeeping.
Protect your deposit today.
If you have taken a cash deposit, you must protect it in a government authorised scheme within 30 calendar days.
Steps to a successful move-in: Your checklist
Review your tenancy agreement
Carefully read and understand the terms of your tenancy agreement—a legal contract between you and the landlord/agent outlining the rules and regulations of your stay.Pay your deposit
If you're satisfied with the tenancy agreement and the property, sign it and pay your deposit. Ensure you receive all required Prescribed Information and address any missing items promptly.Checking in
As you approach your move-in date, your landlord/agent will arrange a check-in report, documenting the property's condition. Attend the process if possible or review the report thoroughly if not. Make sure to report any issues you find.Create a property folder
Organise all your paperwork, including the inventory, check-in report, and prescribed information in a designated folder for easy access.
Understanding key terms: A quick glossary
Agent
A representative acting on behalf of landlords to manage the property.Assured Shorthold Tenancy (AST)
The most common tenancy agreement in England and Wales.Custodial scheme
The deposit is transferred to mydeposits for safekeeping.Deposit
A sum held to cover damages or rent arrears at the end of the tenancy.Deposit dispute
A disagreement over the division of the deposit.Deposit protection certificate
A certificate confirming deposit protection.Insurance scheme
Landlord/agent holds the deposit and pays an insurance fee.Joint tenancy agreement
Multiple tenants are jointly responsible for the agreement.Landlord
Property owner who lets using an AST.Prescribed information
Information required to be provided to tenants about deposit protection.Tenant
Person letting a property under an AST agreement.
Your tenancy journey starts with the right knowledge. Set yourself up for a successful move-in with our comprehensive guide and trusted protection. Your happy home awaits!