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The cost of moving into rented accommodation

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If you’re gearing up for a home move, you may be wondering how much the move will cost you. To help you plan ahead, here’s an overview of some common costs to factor into your budget when moving into a new private rented property.

How much will my rental deposit be?

The largest single cost of moving into a rented home is the deposit. The landlord will return this to you at the end of the tenancy. Deductions can be made from your deposit for damage to the property (over and above normal wear and tear), unpaid rent, cleaning costs or missing items.

Your deposit will usually be equivalent to between one and two months’ rent. From 1 June 2019, the maximum deposit amount will be capped at five weeks’ rent.

If you’re moving from one rented house to another, you’ll probably have to pay your new deposit before you get your old one back.

How much will I have to pay in tenancy fees?

If you live in England or Scotland, you will not have to pay fees when you sign up to a new tenancy. A ban on tenancy fees is due to come into effect in Wales in September 2019. You can still be charged a holding deposit to secure the property while your tenancy application is in progress. This should be refunded to you once the tenancy agreement has been signed.

Your first month’s rent

You will usually have to pay the first month’s rent before you move in. Thereafter, you will pay in advance each month. Some landlords ask for more than one month’s rent in advance.

Other costs

You may need to factor in other costs when moving, including:

  • Removals or van rental: Removal costs will vary according to your needs and the distance you’re moving. It’s worth getting quotes before you move so you can plan ahead.
  • Broadband and TV services: Some broadband and TV providers will require you to pay an installation fee, even if you stay with the same provider.
  • Changes to your car insurance and travel costs: Your car insurance may go up or down when you move. You may also have to pay for parking at your new address. It’s also worth factoring in any additional commuting costs you’ll have to pay.
  • Items for your new home: Be aware that when you view a furnished property, there may be items there that belong to the existing tenant. When you attend a viewing, ask the agent or landlord which items will still be there when you move in. Then you can budget for any items you’ll need.

We can help make your home move easier

Tili is a digital home move assistant that helps you set up all your essential services, including council tax, water, energy, broadband and TV in just a few taps. Click here to find out more.

For more information on moving house, check out our handy home move checklist.

Save time and hassle with the Tili digital home move assistant
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