Renting your first home is an exciting milestone. But if you’re unfamiliar with how the process works, it can also seem a bit overwhelming at first. With budgets, referencing, contracts, deposits, and more to consider, it’s completely normal to feel unsure about where to start.
The good news is, once you understand how each stage works, renting for the first time is far less daunting than it might seem. This guide walks you through everything you need to know, from setting your budget to picking up the keys, with advice drawn from Pickard Properties’ decades of experience in helping tenants find their perfect home in Leeds.
Renting for the first time: Step-by-step
Before you start looking for your perfect rental home, it helps to understand what the process usually involves from start to finish, so you know what to expect. Here’s a brief step-by-step breakdown:
- Working out what you can afford.
- Searching for properties that suit your budget, lifestyle, and location.
- Applying for a property and passing referencing checks.
- Signing a tenancy agreement.
- Paying a deposit and your first month’s rent.
- Moving in and settling into your new home.
Each stage comes with its own considerations, timelines, and things to look out for. Rushing any of them is one of the most common reasons first-time renters run into trouble. Take your time, and don’t be afraid to ask questions if there’s anything you don’t understand.
Setting your budget
Budgeting properly is one of the most important ways to ensure your renting experience goes as smoothly as possible. Your monthly rent is the most obvious cost, but there are other expenses to consider and budget for, too.
Professional homes
Upfront costs typically include:
- A holding deposit — this is often equivalent to one week’s rent and deducted from your first rent payment
- A tenancy deposit — this is typically equivalent to five weeks’ rent, but deposit arrangements differ for professional house shares
- Your first month’s rent in advance
- Moving costs, such as hiring a van to move furniture.
Ongoing monthly costs may include:
- Rent
- Utility bills, including gas, electricity, and water
- Council tax
- Broadband
- TV licence
- Contents insurance
- Streaming subscriptions
- Groceries and everyday living costs
- Transport
- Social spending.
Some professional house shares can be bills-inclusive, so check what’s included with your property before calculating your monthly costs.
A general rule of thumb is that your rent shouldn’t cost more than around a third of your take-home income, though this varies depending on your circumstances and where in Leeds you’re looking to live.
It’s also worth budgeting to have some savings left over each month to build up a small financial buffer (often called an emergency fund) for any unexpected costs.
Student homes
Upfront costs usually include:
- A tenancy deposit — currently £260 per tenant with Pickard Properties
- Your first rental instalment.
Ongoing costs may include:
- Rent
- Utility bills, broadband, TV licence, and contents insurance if you choose a bills-exclusive property
- Additional streaming subscriptions
- Groceries and everyday living costs
- Transport
- Social spending.
Pickard’s bills-inclusive packages are available on eligible student properties and can include gas, electricity, water, broadband, a TV licence, and contents insurance. Full-time students may also be eligible for council tax exemption.
Bills
One thing that catches many first-time renters out is bills. If a property’s rent is exclusive of bills, it’s worth noting that some of these costs can fluctuate from month to month depending on your use and any pricing changes.
Finding the right rental property
Once your budget is in place, it’s time to start searching for your dream home. Here are a few of the most important things to consider when you’re browsing.
Location
Think about each property’s distance to your workplace or university, friends and family, and local amenities. In Leeds, popular areas for students include Headingley, Hyde Park, and Woodhouse, while professionals often choose Burley or Horsforth for a slightly gentler pace and an easy commute into the city.
Property type
Would you prefer to live in a house share, an apartment, or a house? House shares tend to be the most affordable option and are popular with students and young professionals, while flats and houses offer a little more privacy, independence, and space for growing families.
Furnished vs unfurnished
Some properties can be rented with furnishings included, which is particularly useful if you don’t already have furniture of your own. This normally covers the basics, such as a bed, sofa, and fridge-freezer, but you’ll usually still need to bring your own TV, kitchenware, and bedding, so it’s worth checking exactly what’s provided before you move in.
Student properties typically include more furnishings, including desks, making them well suited to those moving away from home for the first time.
Letting agent reputation
Working with an established, reputable letting agent gives you added peace of mind. Look out for accreditations and membership of recognised schemes such as the Unipol Code, the Residential Landlord Association (RLA), or The Property Redress Scheme.
Viewing a rental property
Once you’ve found a few properties you like the look of, it’s time to book some viewings. This is your chance to see each property in person and ask any questions you might have before you choose whether to apply. Here’s what to look out for:
- Condition and maintenance: Check for damp, mould, cracks, or anything that looks in need of repair. Test taps, light switches, and heating if you get the chance, too.
- Energy efficiency: Ask about the property’s EPC rating and how well it retains heat, as this can make a real difference to your winter bills.
- What’s included: Confirm what’s included in the rent (furniture, appliances, bills) and what you’ll need to budget for separately.
- Safety features: Look for working smoke detectors, secure locks, and fire escape routes.
- The local area: Spend some time in the local area, ideally at different times of day, to get a feel for noise levels, parking, and the general atmosphere.
- Ask the current tenants: If the property is currently occupied, speaking to the tenants is a great way to get honest, first-hand insight into what it’s really like to live there.
Don’t be afraid to ask lots of questions. A good letting agent will welcome them, and the answers you get could make the difference in deciding if the property is right for you.
Preparing your first rental application
Before you fall in love with a property, it’s worth getting your paperwork in order. Landlords and letting agents need to check that you’re a trustworthy tenant who can reliably afford the rent, and being prepared can help your application move quickly and without any hiccups.
What documents do you need for a rental application?
Most landlords and agents will ask for a combination of the following:
- Photo ID, such as a passport or driving licence
- Proof of income, such as recent payslips or bank statements
- Proof of address, such as a recent utility or council tax bill
- Bank details for setting up rent payments.
If you’re a student, you’ll usually also need to provide your university or course details, and may be asked for a guarantor if you don’t have an established income or rental history.
Keeping digital copies of these documents ready to go can speed up the application process considerably and help you move in faster.
What are references and guarantors?
Referencing is how a landlord or letting agent verifies that you’re likely to be a reliable tenant. This usually involves checks on your income, employment status, and rental history.
If you’re a first-time renter without a rental history, or a student without a regular income, you’ll likely need a guarantor. A guarantor is someone (often a parent or close family member) who agrees to cover your rent if you’re unable to pay it. Guarantors usually need to demonstrate sufficient income or savings themselves and will often be asked to sign a guarantor agreement — a separate document from your tenancy agreement — confirming they’ll cover the rent if you can’t.
If you don’t have anyone who can act as a guarantor, speak to your letting agent to see whether any alternative options are available.
Understanding your tenancy agreement
Once you’ve chosen a property and passed referencing, you’ll be asked to sign a tenancy agreement. This is a legally binding contract between you and your landlord, so it’s essential to read it carefully.
Your tenancy agreement should tell you:
- The rent amount, due date, and accepted payment methods, such as a bank transfer or standing order
- What’s included in the rent (bills, furnishings, etc.)
- Your responsibilities as a tenant, and your landlord’s responsibilities
- How and when the tenancy can be ended by both you and your landlord
- Details of how your deposit will be protected.
If anything in your tenancy agreement is unclear, ask your letting agent to explain it before you sign. A reputable agent will always take the time to walk you through your contract so you know exactly what you’re agreeing to.
Paying your holding deposit, tenancy deposit, and first month’s rent
There are a few different payments you’ll likely encounter at the beginning of your tenancy, with the most common being:
- Holding deposit: A small payment (capped by law at one week’s rent) to reserve a property while referencing is completed. This is usually deducted from your first month’s rent or tenancy deposit once you move in.
- Tenancy deposit: Usually equivalent to five weeks’ rent, this is held as security against damage or unpaid rent and must, by law, be protected in a government-approved Tenancy Deposit Protection (TDP) scheme. You should receive written confirmation of this.
- First month’s rent: Paid in advance before you move in, alongside your deposit.
Always check exactly when payments are due, and be cautious if a landlord or agent asks for money unusually early in the process. A trustworthy letting agent will be transparent about all costs and timelines from the outset.
Moving into your first rental home
Once you’ve signed your tenancy agreement and made your first payments, it’s time to move in. Don’t forget these essentials:
- Utilities and internet: If bills aren’t included in your rent, you’ll need to set up gas, electricity, water, and broadband as soon as possible — ideally before moving in.
- Meter readings: Take photos of any utility meter readings on moving day, especially if you’re setting up your own utility accounts. This creates a clear record from day one, so you’re not left paying for a previous tenant’s use.
- Update your address: Let your bank, employer, university, GP, and any subscription services know your new address.
- Inventory check: Your landlord or agent should provide you with an inventory documenting the property’s contents and condition. Check it carefully and flag any discrepancies straight away, as this may affect the return of your deposit when you move out.
- Contents insurance: Unless it’s included in your tenancy package, you may want to arrange contents insurance to protect your valuables.
Settling into your new area
Once the boxes are unpacked, take some time to get to know your new surroundings. Find your nearest supermarkets, green spaces, and public transport links, and register with a local GP and dentist.
If you’re a student moving to Headingley, Hyde Park, or Woodhouse, you’ll find plenty of restaurants, bars, and independent shops to explore, plus everything you need within easy reach of the university campuses.
Professionals settling into areas like Burley or Horsforth will also find strong local transport links with a straightforward commute into the city centre.
If you’re moving out of your parents’ house, you might also be taking on responsibilities you haven’t had before, from cooking and cleaning to budgeting and bills. Settling into a simple routine in your first few weeks can help you adjust to your new lifestyle.
Common first-time renting mistakes to avoid
Here are some of the most common mistakes to watch out for when renting for the first time:
- Underestimating monthly costs: Focusing only on rent and forgetting bills, council tax, and everyday living expenses can leave you out of pocket.
- Skipping the small print: Signing a tenancy agreement without reading it properly may run the risk of being caught out by a clause you missed.
- Ignoring the inventory: Not checking or challenging the move-in inventory can cause problems when it comes to getting your deposit back.
- Choosing the wrong housemates: Think carefully about compatibility before committing to a house share so you’re not moving in with someone you don’t get on with.
- Leaving documents to the last minute: Not having documents or a guarantor ready can slow down your moving-in process, or even cause you to lose out to other applicants.
- Not asking questions: Asking about important aspects such as bills, safety, or the local area during a viewing can save you any surprises later.
Avoiding these pitfalls often comes down to taking your time and working with a letting agent you trust to guide you through the process.
First-time renting: Quick checklist
Now you know how each stage of the renting process works, here’s a quick checklist to refer back to, to ensure you’re on the right track.
Before you start your search:
- Set a realistic monthly budget, including bills
- Save enough for a deposit, first month’s rent, and moving costs
- Gather your key documents (ID, proof of income, references)
- Decide on your ideal location and must-have features.
During your search and application:
- Book viewings for shortlisted properties
- Ask plenty of questions during viewings
- Read the tenancy agreement thoroughly before signing
- Confirm what’s included in the rent (bills, furnishings, etc.).
Before moving in:
- Pay your deposit and first month’s rent
- Check that your deposit is protected in a government-approved scheme
- Arrange utilities, internet, and contents insurance if needed
- Complete an inventory check with your landlord or agent.
After moving in:
- Update your address with your bank, employer, GP, and subscriptions
- Familiarise yourself with your responsibilities as a tenant
- Save your landlord or agent’s contact details for maintenance and repairs.
Renting for the first time: Frequently asked questions
How much money do I need to move into a rental property?
As a general guide, budget for a tenancy deposit (around five weeks’ rent), your first month’s rent in advance, and some extra for moving costs and initial household essentials.
Do I need a good credit score to rent a property?
There’s no fixed minimum credit score, as requirements vary between landlords and agents. A good credit history can help, but many landlords place more weight on proof of stable income and positive references. If you’re a first-time renter with limited credit history, a guarantor can help.
Do I need a guarantor to rent for the first time?
Not always, but it’s common for students and first-time renters without an established income or rental history. A guarantor agrees to cover your rent if you’re unable to pay it.
How long does referencing take?
The time to complete reference checks varies depending on the landlord or agent and how quickly you provide your documents, but it typically takes anywhere from a few days to a fortnight.
Can I negotiate rent as a first-time renter?
Negotiation on rental price is sometimes possible, particularly if a property has been on the market for a while, but it’s not guaranteed. But there’s no harm in asking politely whether there’s any flexibility.
What happens if I want to end my tenancy?
You can usually end your tenancy by giving your landlord two months’ written notice, but your tenancy agreement will set out the exact rules for ending your tenancy. If you’re living in a house share, slightly different rules can apply.
Find your new home with Pickard Properties
Renting for the first time is a big step, but with the right preparation, it can also be an exciting and enjoyable experience. Understanding your budget, knowing what to expect from referencing and tenancy agreements, and asking the right questions during viewings will set you up for a smooth, confident start to independent living.
At Pickard Properties, we’ve spent over 50 years helping students and professionals find their perfect home across Leeds and beyond. If you’re searching for your first student house share or your first professional accommodation, our friendly, experienced team is on hand to guide you through every step of the process. Get in touch today to start your renting journey with confidence.
