A Guide To Renting A New Home In Central London

A Guide To Renting A New Home In Central London

Renting a new home in Central London can be an exciting but daunting experience. If you looking to rent in Central London, but don’t know where to start, the following guide will help. We address the key things to consider when finding a property to rent and what to do once you have found your dream home.

Following these steps will help to refine your search and ensure you get the best deal:

1.    Determine your requirements

2.    Evaluate costs

3.    Find and register with an estate agent

4.    Arrange Viewings

5.    Make an offer

6.    Rental agreement

7.    Signing the tenancy agreement

8.    Moving into your property

 

DETERMINE YOUR REQUIREMENTS

Before registering with an estate agent or viewing any properties, you must determine what your requirements are and what it is you are looking for. Please consider:

–    Budget;

–    Location – neighbourhoods, transport links and other essentials (e.g. schools);

–    Number of bedrooms;

–    Style of property – modern, historic, stylish, etc.;

–    Outdoor space – garden, balcony and/or local parks.

The next step is to visit the area to get a feel for the neighbourhood, current residents and check out the local amenities. In Central London, there are many different boroughs located very close to one another but with unique quirks and distinctive atmospheres. For example, someone looking for a flat in Enfield would have a different set of criteria to someone searching for property in Marylebone.

 

EVALUATE COSTS

As well as determining your requirements, it is important that you evaluate what you can afford so that you know what properties to look for. When renting a property there are many costs to consider. Therefore, you should budget your finances before viewing properties.

Budgeting includes:

–       A monthly rental figure – you can work this out using: .

–       Damage deposit – covers damage that may occur during your tenancy.

–       Tenancy arrangement fee – covers costs of preparing your tenancy agreement.

–       Inventory fee – covers the costs of property inspection once your tenancy has ended.

–       Reference fee – covers the costs of your estate agent taking up references.

–       Council Tax – is a requirement for access to public services

–       Utility bills

–       Contents Insurance

Be sure to speak to your estate agent about these costs when viewing a property as they will differ depending on the area and the landlord.

 

FIND AND REGISTER WITH AN ESTATE AGENT

There are many estate agents to choose from in Central London, so it’s important you register with one that is right for you. The on line property portal Rightmove is a useful place to start as this holds the stock for the best agents in each area and provides an initial insight into properties available in your chosen locations. You should then individually contact each estate agent about the property/properties you are interested in. The reason we advise you to register with a local agent is that they have the knowledge and a true insight into the surrounding area. You should provide the estate agent with your requirements and budget so they can help you find your ideal home. For example, if you were looking for property to rent in Soho, you should find an agent that has numerous properties in Soho, within the specifications you require. This will give you the best chance of securing an ideal property in the area you desire.

 

ARRANGE VIEWINGS

After determining your requirements, evaluating how much rent you can afford each month and registering with an estate agent, it’s time to start viewing properties! Your estate agent should be flexible and help you arrange property viewings at times that suit you. We advise you to view properties with your agent because they are equipped to understand what kind of property you are searching for and can assist in finding properties to view.

Viewings are arguably the most important step towards renting a property in Central London because they help you to understand what you can get for your money, as well as allowing you to visit and explore the local area. This is just as important as the property itself. You should try to view as many properties as possible to really establish your preferences and priorities. It’s likely that after viewing several properties your requirements and desired location may change.

 

MAKE AN OFFER

After viewing a range of properties and finding your ideal home, it is time to make an offer. When making an offer you should submit a verbal and written offer. Your offer should include the length of tenancy that you require as well as any other special conditions. For example, if you require a break clause that permits you to end the tenancy before the full term has expired, then you must state this in your offer. Including this information is important as it helps landlords make a decision about accepting an offer.

Any offer you make will be subject to satisfactory references and contract.

 

RENTAL AGREEMENT

Congratulations! Your rental has been agreed and the landlord has accepted your offer. You may be requested to pay a holding deposit equivalent to 2 weeks rent after which marketing of the property is suspended pending satisfactory completion of references.

During this part of the process, you must fill out the reference forms. Additionally, you will be required to fulfil a Right to Rent check. This check is a statutory requirement for anyone renting in the UK.