Are looking to rent a home for you and your family in London? If so, this article is for you. We’ll take you through everything you need to know before you start your search. Read on to find out more about costs, deposit protection, and much more.
First of all, let’s get the most obvious point out of the way: renting in London can be incredibly expensive. So, your first step is to plan out how much money you can afford to spend on your rent each month. Don’t forget to allow for council tax and utility bills. Again, it seems an obvious point, but you have to understand all the costs before committing.
The average price of renting a home in London was £1,500 per month in June of this year, and that is expected to rise in the coming years. So, it’s also a good idea to allow for your landlord raising their prices in the near future. Of course, rental prices vary depending on where you live. This interesting map of the Tube reveals what you can expect.
Choose an area
As you can see from the link above, prices fluctuate a great deal. So, perhaps more than anywhere else, it’s important to decide on an area before finding a lettings agent. There are several things you need to think about for your family home. First of all, is there enough space to fit you all in? You should also consider garden space for your kids to play in – and you can expect that to come at a premium.
Local facilities should also be high up on your priorities. Good schools, local playgrounds, and a safe environment are all essential for people with young children. But, again, they will mean you pay a little more. Also, bear in mind that the mishmash nature of London means that a beautiful area is never far from the opposite. So, you might want to think about gated communities or something similar.
Find a lettings agent
If you are moving to London from another city, we would advise getting a lettings agent to help you. They will have intimate knowledge of the area, and can help you get organised while you are still living elsewhere.
Always go with a local agent, as they will know where to look for you when you lay out your expectations. For example, if you were looking for a place in Wimbledon, you might want to try Brinkley’s Estate Agent. They have offices all across the south-west of the city, too, so will know the market outside Wimbledon if you need a cheaper location. Feel free to shop around, and if your agent isn’t delivering the goods, find someone that can help you.
Deciding on your new home
There are no guarantees when it comes to renting in the private market, so make sure that you meet the landlord – if possible. You have to trust that they aren’t planning on selling up in a couple of months, as moving again so quickly might affect your kids.
You will also have to give a deposit. These are given to a third party Tenancy Deposit Protection Scheme, who look after your money until the end of your contract. You and your landlord will agree on any damages you cause, and the TDPS will pay you back your money.
OK, so that’s all from us today. We wish you every success in your London family home!