50+ tips for renters

If you can't afford to live in your dream home just yet, don't despair. There are lots of nifty MoneySaving tricks to make the most of the one you're in right now, from low-cost ways to make your bathroom sparkle to raising your bed to create storage space underneath. 

Folk at MSE Towers know a thing or two about making the most of a smaller pad – after all, many of us live in central London, where accommodation can be decidedly cosy. So we asked the team what they've learned over the years. See our Tricks to boost storage and improve the look of your home.

When you're renting, contents insurance can give useful protection if there's a break-in, or your stuff gets damaged. Yet don't under-insure – this could lead to insurers not paying out when you need it.

For example, say you're insured for £12,000, but actually have £24,000 of contents, and then £6,000 worth is stolen. The insurer could then assess your property and only pay out in proportion to your cover, meaning you'll get just £3,000 back.

Or worse still, the policy could be cancelled for being underinsured. If this is the case, you must disclose it in future, hiking insurance costs – and making it more difficult to get cover at all.

To work out the correct amount, walk from room to room, noting down what everything would cost on a new-for-old basis, including smaller items like clothing. It soon adds up. For a full list of best buys, see the full Contents insurance guide.

Credit scoring is a system used by lenders to check how financially attractive you are to them, using your past actions to predict future behaviour. Yet if you're 'financially linked' to someone on a financial product, it can have an impact. Even a joint bank account with housemates from which to pay house bills theoretically means you could be co-scored.

However while it's technically possible joint utility bills could be reported on credit files, current practice is not to do so. Similarly we've also confirmed being jointly named on a utility bill with a flatmate shouldn't mean you're jointly credit scored.

Bear in mind though that if there are two (or more) names on a utility bill and there's a default, it's likely to be reported on both (or all) credit records.

If you move out and no longer live with housemates who you had joint finances with, once the accounts are separated or no longer active, always write to the credit reference agencies and ask for a notice of 'disassociation' to stop their credit history affecting yours in future. See the Credit scores guide for full help.

There's no shame in renting – and a fifth of households in the UK do it. Yet if you're lusting to own, ALWAYS save for your deposit the right way to reach your goal sooner. In a nutshell...

• The Government launched the Lifetime ISA in April 2017. You can earn interest tax-free and then the state will add 25% free cash (up to £33,000) on top of what you save. For full info see our Lifetime ISA guide.
  
  

• If you've put the maximum in your Lifetime ISA, go for a top-paying easy-access savings account. Full best buys are in Top savings.

While small issues such as a dripping tap or squeaky floorboard needn't be a deal-breaker, use this list to help you check the rental out when you visit. It's worth taking an eagle-eyed friend or family member to help. Ask the landlord to fix any problems before you move in.

Or if you can live with it, use it to help you haggle on the rent:

• Spot damp. Case the joint for wet spots, mould, peeling wallpaper and condensation. Does it smell musty?
   

• Look up at ceilings. Look for cracks, brown stains, slow drips and leaks.
   

• Flick switches. Turn lights on and off, especially with older switches.
   

• Inspect the plumbing. Flush toilets and turn taps on. Check cupboards underneath sinks are dry. Check water pressure and that it gets hot, and that the central heating's working properly.
   

• Locks are key. Ensure door locks are up to insurance standards. Some policies insist that front and back doors be fitted with a five lever mortice deadlock. Check windows for locks and the front door for break-in signs.
   

• Turn on your phone. Check for a signal to see it's not a mobile dead zone.
   

• Avoid kitchen nightmares. In the kitchen, mime preparing a dinner. Is there enough room? If white goods are included, check they're working.
   

• Take a compass. Check if estate agents' promises of a sunny south-facing garden are true.
   

• Pry next door. If renting a flat or terrace, alarm bells should ring if neighbours' properties are rundown. Their problems can quickly become yours. Listen for noise from neighbours and roads. If you can, try to get a second viewing at a different time of day.

If you want something in a specific area or street, set an alert on Rightmove or Zoopla and it will email each time a vender lists a property. Simply type in your location and click 'Create an alert' on Rightmove, or 'Create email alert' on Zoopla.

See Use the right 'rent a property' finders above for more on how to make the most of these (and other) sites.

It's easy to forget this when you've a ton of unpacking to do, but do meter readings for your gas and electricity when you move in. This way, you can pass them on to the suppliers to ensure you aren't charged for energy that the previous occupants used.

It's also worth noting you should do a meter reading every time you get a bill. Don't rely on your energy provider's estimate; these are often way out. If they're underbilling, you'll have a big whack to pay at the end of the year. If they're overbilling, then they've unfairly got your cash.

If your direct debit is way off kilter, call up and ask for it to be changed. You've a range of rights to ensure it's correct. See the Energy direct debits guide for help.

The type of tenancy agreement you have, and when your contract started, will affect your rights, so check what you've got. In a nutshell, 'assured shorthold tenancy agreements' in England and Wales are generally the most common type if renting with a private landlord (there are different names in Scotland and Northern Ireland – see below for help checking yours).

Assured shorthold tenancy agreements generally last six to 12 months, and mean your landlord must provide some repairs (plus other criteria too). When an assured shorthold tenancy ends, it becomes a 'month-to-month' tenancy. So unless your landlord ends it, you can stay on.

How to check what tenancy type you've got

Finding which tenancy type you've got can be tricky. It depends on a huge amount of factors, including when you moved in, how you pay rent and who you live with.

To help, housing charity Shelter has useful Tenancy Checker tools for England and Scotland. Just answer a few points on where you're living and when you moved in, and it'll quickly tell you which type you've got, plus your rights for each. Shelter also has info on tenancy types in Wales, or try Housing Rights for Northern Ireland.

It's also worth reading Forumite G_M's useful posts on rent increases if you're on an assured shorthold tenancy, and what happens when a fixed term ends.

No matter how plush the pad, MoneySavers are unanimous that location counts. After all, you can add your own touches when you're renting, but you can't move it to another spot. So prowl the neighbourhood on foot, hunting for clues.

Of course, if it's only temporary rented accommodation for a month or so, you may be happy to put up with a less-than-glowing area. But if you're planning to rent there for a while, a little research can go a long way:

• How safe is the area? Steel yourself and take a look at the Police.uk crime mapping website for England and Wales. It breaks down recorded crimes by street, including burglary, robbery and anti-social behaviour (gulp!), all of which mean dearer insurance premiums.
   

• Get info on noise levels, air pollution and transport links. You can get oodles of free information online on school league tables and even noise level checks. See Free house price valuations for a full list – though our guide's designed for buyers, it has useful tips to help renters too.

If you're a total newcomer and you're planning to rent there for a while, you could even stay in a local bed and breakfast to get a real feel for the area. Get the lowdown from locals and ask a local bobby or Neighbourhood Watch co-ordinator.

When choosing an area to rent in, don't forget to factor in public transport if you or your family will need it for work or school. How frequent are buses and trains, and how much are they? If a season ticket's expensive, savings had by renting in the sticks can quickly be swallowed by the cost of the commute.

For London commuters, CommuteFrom shows which areas are the quickest hop from the office. Select a central London rail or Tube station, pick a maximum journey length, eg, no more than one hour, and it brings up the best commuter routes.

Sadly there isn't a similar version for the rest of the UK, but try searching test routes you'll need on the National Rail journey planner, or for bus routes and frequency, check your council's website – Gov.uk has a handy tool to find yours.

Moving into a new place is the perfect time to grab your finances by the nipples and tweak 'em hard. You'll be signing up to new services anyway, so could save £1,000s on your previous bills by ensuring you grab everything cheapest.

For starters, find Cheap broadband, then try Digital TV haggling and Cutting your water bills. But those are just the start.

For a detailed checklist of over 30 quick ways to cut bills, see the full Money makeover guide.

If you're renting shared accommodation, such as in uni halls, your insurance won't cover you for theft unless there's been a violent or forced entry. So always make sure you lock your room's door when you leave, even if you're just popping out briefly.

If you're in a house share that doesn't have locks on each room, be aware this may adversely affect any home insurance claims. As there won't be any signs of forced entry (after all, a burglar could just walk into your room) they may not pay out. You could get tenants' home insurance – see our Contents insurance for tenants guide for more.

Of course, we aren't saying you should rush out and buy a property. But if you are making the jump from renting to buying, we've a detailed free PDF guide to help you get the very best mortgage deal possible.

The MoneySavingExpert.com First-time buyers' guide is a fully detailed step-by-step guide to getting the best possible mortgage deal.

For every 1% you can cut off your mortgage deal, you'll save £1,000 a year on a £100,000 repayment mortgage. So it's well worth taking the time.