What other costs might I be liable for when renting a studio?
There are a number of extra costs that you will be liable for when you rent a studio, exactly as with a residential property.
These include electricity, gas, water and sometimes business rates or a service charge for looking after the roof, structure and communal areas of the building.
To help you budget for the cost of your studio you may prefer to pay an all-inclusive rent, i.e. one that includes the cost of all of these items. However, if you are concerned that you may be paying an inflated rent as a result of a communal charge for lighting, water and electricity you may prefer to take a lease where you are billed separately for these by the utility company. Do bear in mind that this utility possible where the property is separately metered for gas, water and electricity and you will need to handle the administration for paying these bills. If you are expected to contribute, make sure a cap is placed on the amount which you are expected to pay. Bear in mind that for some kinds of social enterprise, rates will automatically be reduced by exemption by 80%, and at the discretion of the local authority this can be increased to 100%.