Ten Things to Think About When Renting

Many people are choosing to rent a house or a flat these days as getting a mortgage is not quite as straightforward as it used to be. High deposits mean waiting longer until you can afford somewhere, and uncertainty in the employment market can have an adverse effect too. For all you budding tenants out there, here is a useful list of ten things to look out for when you are looking to rent a house:

  1. What can you afford? Decide on your budget and stick to it, especially if you are sharing with friends – you all need to be on the same page.

  2. Which area do you want to be in? Take into account local amenities such as shops and pubs and what the crime rates are like.

  3. How will you get to work? Check out local public transport networks or the ideal route if you are driving and consider the length of the commute.

  4. What kind of contract is it? Does the landlord want you to sign for six or twelve months and how does this effect you.

  5. Is the property furnished? You might own a bed but what about a table and chairs, wardrobes, sofas and so on.

  6. If the house has furniture what state is it in? You may decide on a new mattress for yourself so head to Sleepmasters for a great selection.

  7. Is the house run down or in good condition? Consider how you will feel living there and whether any problems will bother you.

  8. How well equipped is the property? Is there a freezer as well as a fridge, what about a washing machine and can you get satellite television?

  9. How fussy is the landlord? Do you have to phone them every time you want to put up a picture or will they be a bit more relaxed?

  10. And finally, when you move in, what method are you going to employ to determine who gets the best bedroom?! Very important.

REAL ESTATE & PROPERTY

Real Estate is a legal term used when property is changing hands and it refers to the fixed content of the site ie all buildings, fences, ponds, dams, mines, canals, roads and any other improvements made that cannot be moved.

The  law recognises different types of estates, determined by the content of the deed, lease, bill of sale, will or land grant through which the estate was obtained. Each estate has its own property rights which will set out transferability details and time limits.
In the UK the Crown is the ultimate owner of all real property in the realm. This happens if the property has been disclaimed by its owner in which case the law of ‘escheat’ applies. This happens when someone dies without making a will and there are no heirs ie spouse or parents, grandparents or children. If a bank or credit union holds money or property that is unclaimed, in a liquid account for a lengthy time then it can be escheated to the government.

A fixture is a legal term used for any physical property that is permanently attached or fixed to real property. If the property is not affixed to real property it is called a chattel property. Fixtures are treated as part of real property from the point of view of security, the if debt had occurred then the law entitles that the holder of security can sell the property to cover debts. Fixtures are buildings that are considered to be part of the land itself, to enhance the land. The term ‘appurtenances’ refers to ‘what goes with’ an estate, anything of a permanent nature including trees, structures, minerals and and the interests, benefits and inherent rights. The terms ‘Real Estate’ and ‘Real Property’ are used primarily in common law, a law developed by judges through decisions of ‘court’, rather that through ‘legislative statutes’ or ‘executive branch action’. ‘ Stare decisis’ is the principal that similar cases should be decided on consistent principled rules so they will reach similar results. The principal of common law is adopted by all countries that trace their legal heritage to England as former colonies, USA, New Zealand, South Africa, Malaysia, Singapore, Pakistan, India, Canada, Ireland, Hong Kong, Australia.