If the only thing you think about is the cost of the rent when negotiating a lease you might find some nasty and costly surprises round the corner.
It is essential that you fully understand the extent of your repair obligations which are often swallowed up in the old acronym “FRI”, full repairing and insuring to you and me.
But understanding the finer details may save you money in the long run.
Firstly, find out what exactly is covered by the term ‘the Property’ in your repair clauses, or you may be liable for repairing parts of a property you didn’t even realise you were letting.
What if the Property is not “in repair”
Secondly, get a survey. Without it, and by taking on a property not ‘in-repair’ you could be facing a hefty repair bill before you’ve even moved in.
Landlord’s Repair Obligations
Thirdly, familiarise yourself with the landlord’s service charges and, critically, what they cover.
I have produced a more detailed article on this topic here for property website Place NW to help ensure you are protecting yourself from costly mistakes.
Of course, you can contact me on [email protected] for more specific lease advice.