Separate the headline price from the amount due
Write down the quoted rent, the period it covers and how much must be paid before moving in. Ask for each additional charge to be named, explained and recorded in writing. Do not assume two advertisements include the same items.
Use three columns: amounts due before moving in, recurring charges, and refundable deposits. Record who receives each payment and the conditions attached to any refund.
Understand the service charge
Ask which services are covered, how frequently the charge is collected and how changes are communicated. Water, common-area electricity, security, cleaning and maintenance may be handled separately. Confirm whether a quoted amount is fixed or an estimate.
Ask whether electricity or generator fuel is billed by use, by a shared contribution or through the service charge. Record the arrangement rather than assuming a listing described as serviced includes every utility.
Compare the same period
Put every quotation on the same time basis. An annual rent, monthly service charge and daily power contribution cannot be compared by looking only at the largest number. Include the costs you will actually incur, while keeping refundable deposits separate from expenses.
Ask which repairs, appliances and furnishings will be supplied before occupation. A cheaper headline rent can involve additional setup costs if important items are excluded.
Resolve questions before payment
Keep the written breakdown and proposed agreement together. Ask an independent qualified adviser to explain terms you do not understand. Confirm the property, the recipient and their authority before transferring funds.
Written by Property Hunt. This guide provides general information; individual properties and agreements need their own checks.