Living costs and money management
If you are moving into a landlord’s property you will be a tenant and need to pay them rent to live there.
As a tenant you will sign a tenancy agreement which is a contract between you and your landlord explaining how long you can live in the property and the cost. This does not have to be a written agreement.
The amount of rent charged for a room, flat or house depends on its size, where it is and its condition. Rent for rooms can start from £70 but could be more than £100 a week. You can check how your rent should be paid and what it includes in your tenancy agreement.
Top tip: Ask for an inventory – a written list of everything in the property. They can help clear up any disputes at the end of the tenancy.
Other living costs
You will probably also have to pay for:
- Council tax
- TV licence
- Any phone, broadband or TV package you pick
For energy tips:
- ask the landlord where to find the electricity and gas meters
- read the electricity, gas and water meters on the day you move in
- tell the supplier you’ve moved in (to make sure you’re paying the right amount)
Managing your money
To help you manage your money you can draw up a budget plan. Your plan should include:
- all income and bills (including monthly outgoings)
- food costs
- travel costs
- any contracts such as mobile phone bills
You can get help using Money Advice Service’s budget planner