How to rent an apartment in London

The question of how to rent an apartment in London is becoming relevant not only for migrants, but also for those who want to get to know the history and modern life of the United Kingdom more closely and without haste. After all, it will take more than one day to explore the capital's sights. How to proceed and what is important to know so that the search for housing does not turn into a full-time-job?

Advantages and disadvantages of renting real estate in London

What is better for renting an apartment or buying it depends on the financial condition, both current and expected in the foreseeable future. And not only.

Renting a home implies a certain amount of mobility, but at the same time:

• By paying rent, you are not investing in your own home. Therefore, some Londoners decide to purchase residential square meters by signing a mortgage loan agreement. After analyzing how much it costs to rent an apartment in London, we can conclude that this value is comparable to the size of regular payments on a long-term home loan. But the funds will not be wasted.
• It makes the tenant dependent on the landlord. In the lease agreement, the owner of the real estate prescribes the basic rules, violation of which will entail eviction. The rules may even include the inadmissibility of rearranging furniture.

According to statistics, the total number of residential square meters that can be rented in the capital of Foggy Albion, on an annualized basis (for 2021) decreased by 17%. And the cost of renting an apartment in London tends to grow and depends on the area.

In remote areas such as Barking, Bexley, Haringey and Havering, rental rates have increased. This phenomenon is due to the fact that the cost of renting an apartment here is noticeably lower. For example, in Bexley the value of this indicator is quite affordable for the wallet of the average Englishman 1,100 pounds per month.

In mid-2021, in order to rent an apartment in central London, you need to be ready to pay monthly in:

• Westminster - 3,169 pounds;
• Chelsea - 3 110;
• Camden and Islington - 2,000 pounds.

At the same time, the real estate market has a certain dynamic, thanks to which it often becomes possible to rent a house in London at an inexpensive price, or at least at a more loyal price. This will be discussed in more detail below, but for now, let's just say that it may be necessary to select a suitable option. time.

Take a sociological survey!

[yop_poll id = ”14 ″]

Types of housing

In London you can find offers for renting all major types of residential premises. Let's consider their features.

• Flat rent. Good apartments leave quickly enough. Therefore, do not put off looking for suitable options for the weekend. It is best to start familiarizing yourself with such housing immediately after the proposal appears. When discussing the rental price with the property owner, one thing should be kept in mind. It is formulated as follows: if you plan to rent an apartment in London for a long period (more than 7 days or even one month), its cost will be calculated in weeks. There is usually no prepayment. The British themselves carry out mutual settlements at the end of each week.
• Room rent. Judging by the reviews on the Internet forums of tourism topics, the complexity of solving the problem of renting a room and an apartment is comparable. The main advantage lies in the possibility of saving the budget: renting a room in London will cost less compared to staying in a hotel. However, it is necessary to find out the identity of not only the owner of the home, but also the neighbors, as well as to understand the peculiarities of their characters and rules of behavior. Then life under one roof will not be fraught with difficulties.
• Apartment rent. Such a solution to the housing problem is beneficial when it is planned to stay in the capital of England for more than 2 weeks. Another reason to rent an apartment, and not to book a hotel room: when a large family travels, a fixed amount is paid for the rent, regardless of the number of residents. On the other hand, a significant area with full furniture and household appliances is provided for use, which, even in a minimal set, includes a washing machine, a TV, an air conditioning and heating system.
• House rent. In the housing market of the English capital, along with a large number of new buildings, there is a shortage of private houses. And the owners of such objects prefer to rent them for a long time. Therefore, renting a house in London for a month is the minimum period if financial expediency matters to you. Staying less than 30 days in other types of properties will be cheaper. In general, with regard to renting a house in England, the following practice has developed: a lease agreement is concluded for 1 year, and without the right to terminate it in the first 6 months.

Residential property search methods

Today there are 2 approaches to finding housing in London for rent - on your own or with the involvement of an intermediary.

An independent search is usually carried out through specialized Internet portals. Let's name only the most popular ones.

• Airbnb is an online search service for short-term rentals around the world, including London.
• Spareroom is the largest UK site where locals post offers to rent a room or part of an apartment.
• Housetrip is useful for those who need to rent a room or apartment in London for a short time. You will not find long term rental options here.
• 9flats is a popular internet portal for both short-term and long-term rentals. The main advantage of the site is the ability to choose a large number of languages, including Russian.
• Londonperfect. Exclusively London portal. In addition to offers for renting real estate, its pages contain information about excursion tours, as well as a city guide.

The second way to search for a real estate sublease option involves contacting one of the agencies, of which there are a lot in the capital of England. The most reliable ones include:

• Chesterton International Real Estate is the oldest realtor in Foggy Albion. It was founded in 1805. Comments, as they say, are superfluous.
• Streets Ahead. Has been working in the real estate market for over 20 years. The agency's employees focus on an individual approach, regardless of the price category of the desired housing.
• Foxtons. This organization has won numerous prestigious awards for real estate companies and is considered one of the most promising.

The difference between these methods of finding a suitable rental option lies in the amount of material and time costs. Those who want to find a suitable living space as cheaply as possible, without overpaying to third-party organizations, are studying the market on their own. But then the search can be significantly delayed.

And those people who are interested in a prompt solution of the issue and are ready to pay about 1.5 - 2% of the rental price for this, turn to real estate agencies.

What to look for when drawing up a lease agreement

Let's list the main points that you should pay attention to before signing a rental agreement in London.

• The capital's real estate market is very dynamic. If the apartment is not rented even for a week, then something is wrong with it. For example, inadequate owners, neighbors, no basic amenities, etc.
• The term "apartment in London" often means not a separate living space, but a room with the owners who live right there. Meanwhile, the advice of experts regarding this option: study, discard immediately is not worth it.Although de facto this is a room for rent, it is usually possible to use the common hall - fireplace, bar, press. In addition, meals may be included in the price.
• The location of the house. If there is a large shopping center nearby, a public transport stop or a railway, the apartment will be quite noisy.

Which areas of London are cheaper to rent?

Information about the cheapest areas of the English capital is given in the table. The information concerns the rental of a modest apartment for the middle class - no more than two bedrooms.

Of course, hostels are the cheapest. But this is a topic for a separate article.

Conclusion

When analyzing offers for renting an apartment in London on English Internet resources, it should be borne in mind that the cost is indicated for a week, unless otherwise specified.

There are a number of factors that need to be analyzed before signing an employment contract. For example, if a dwelling is not rented within a week from the date of publication of the offer, this should be alarming. It is possible that the reason for the delay is the lack of some household amenities or the overpriced.