Finding an affordable property to rent in London may seem overwhelming. Typically, London has some of the highest rents in the country. However, that doesn’t mean it’s impossible to find one you can afford. In fact, you may be surprised to know that finding a home to rent isn’t that challenging with the right advice.
At Truepenny’s, we specialise in helping renters find their ideal home to rent in Dulwich, Greenwich, Charlton, Bromley, Brockley and surrounding areas. This guide aims to help you know what to expect from the rental process.
There are three main things to consider before starting your property search. First, you must know how much you can afford; second, where you want to live; and third, the size of house or flat you wish to rent. Let’s look at these criteria in more detail:
First, you need to know how much you can afford or want to spend. Renting a flat or house in London can be expensive. However, the average rent in some neighbourhoods is cheaper than in others. For example, it’s possible to find rented accommodation with reasonable rates in areas like Greenwich, Dulwich and Charlton. These are popular residential neighbourhoods in London because they have good local communites and are a short commute to areas like Canary Wharf and Central London.
Always remember to calculate living costs and the monthly rent. Also, remember that you will be required to pay a security deposit upfront and one months’ rent in advance.
Your budget and place of work will usually determine where you look for a place to rent. Usually, living further out from Central London is cheaper. However, there are also many affordable neighbourhoods in Zone 1. This means you can save time and money on the commute.
For example, many renters who work in The City look for rented accommodation in Greenwich or Charlton. The average cost to rent a flat In these neighbourhoods is cheaper than in Central London; however, it is only a short commute. On the other hand, Dulwich is further from the centre; and can be a cheaper neighbourhood to rent in.
Getting expert advice is invaluable. Although you may start your search for rental accommodation online, we can match your needs to the ideal type of property in various postcodes such as SE10, SE7 or SE19. The good news is that there are no fees to pay to a letting agent as a renter to find a property.
Once you have a list of potential rental properties, the next step is to arrange a viewing. Don’t worry if the first one isn’t ideal. It is usually best to view several properties before deciding on the best one. However, if you find a flat you love, don’t waste time. The rental market in London is very competitive, and you may not be the only interested party.
There are some questions worth asking when viewing a rental property. Here are a few:
When you find the ideal property for a price you can afford, the next step is to agree to the tenancy. At this point you may be required to give a holding deposit to secure the tenancy. Then reference checks will be run to ensure you are a good match for the rental property. Finally, if everything is in order, we’ll arrange for the tenancy agreement and relevant paperwork to be sent out for all parties signatures and arrange for you to move in.
It’s an exciting day when you get the keys to your new home. However, it can also be a stressful event. So, it’s good to be well organised beforehand. The Truepenny’s employee handling your move in would have requested an inventory report from the landlord.. It’s a good idea to inspect the property to ensure that everything matches the inventory.
The inventory is an essential document because it details the condition of everything in the property. As you walk through the flat, check that the document is accurate. If you notice any inaccuracies, highlight the changes and take photographs of the damage. Then inform both the inventory company and ourselves about the issues.
It is also your responsibility to set up accounts with the utility companies and take meter readings when you move in.