Choose a good agent first when renting in London
Renting in much of London is considered by some, the only way they can afford to live there. For others, it’s a great way to live in a property and areas that they couldn’t otherwise afford.
With our continued obsession to ‘own’ we often forget the pros and cons of owning a home versus renting and being a tenant leaves you free to move pretty much when you want to as your life changes. When I was in my 20s I had three jobs and moved to lots of different areas without being tied down to a property. I house shared, kipped on sofas and rented some pretty rum and some pretty good properties. I couldn’t afford to buy on my own, so I bought with a friend Croydon, which was unaffordable for singletons even in the 1990s – especially with double digit interest rates!
And renting is much safer and better than it used to be. Stock is in better condition, as more private landlords have moved in buying nicer properties and even new builds. Properties should have:-
Most owner occupied homes don’t have this level of protection and safety!
Two warnings thought when renting in London:-
The good news is it’s easy to spot the bad guys and bad properties! Most bad agents and landlords won’t give you the costs to rent upfront, most of the properties they show you will be of pretty poor quality with bare wires, poor plumbing and dodgy looking boilers. Although tempting to rent to save money, properties like this can be dangerously unsafe, so better to spend a bit more and be safe.
And don’t be taken in by expensive fees. To rent a property you should pay around £200-£300 in tenant fees. Checkout Savills, Belvoir and Your Move, their websites show their fees upfront before you rent from them. Don’t rent from an agent that doesn’t do this or give you a list of all their fees to keep.
Want to find out more about renting safely and legally? Visit my ITV Blog
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