Small World Money Transfer
Small World Financial Services - Finanzas
Small World Money Transfer
Small World Financial Services - Finanzas

Tips to find Affordable Rental Accomodation in London

Anyone moving to London needs to go through the ordeal of having to look for an accommodation.
If you plan to search online, be prepared to talk to a real estate agent in London. Almost all the real
estate listings will lead you to one of these, because that’s how it works in London. Finding a rental
accommodation in London has never been an easy affair for anyone, and it won’ be for you either,
so start by accepting it.

Unlike in New York or elsewhere, you cannot rely solely on online resources, to help you get in touch
with the landlord. To speed up the process, many prefer to hire the services of a real-estate agent.
So in the initial days, be prepared to make rounds to the offices of the real-estate agents. This search
is going to be the toughest phase of moving into London, followed by submitting your documents to
the landlords, and hoping that they choose you over the rest.
Besides the challenges associated with searching for an ideal accommodation, you also may have to
produce sufficient paperwork to convince your prospective landlord that you can indeed afford the
property. Here, the landlord has a choice, and usually prefers to let out the property to those who
can most conveniently afford it.
Let us now discuss how you can find an affordable rental accommodation in London.

1. Plan your Budget

Most people choose to travel to and from London, on a daily basis. This is a good option for those
who wish to stay in larger houses instead of cramped up one bedroom apartments. Also, it is a great
way to avoid spending too much money on rents.
So, if you plan to follow the suit, make sure that you know exactly how much you need to travel and
the cost of commutation. Once you have those figures in place, you need to weigh the cost of an
ideal rental accommodation in London, against your chosen accommodation plus the cost of
transportation. If you stand to benefit from it, then go ahead, else you can read through the
strategies we’ve mentioned to find a place within your budget.

2. Consider your convenience

Commutation in London can be quite expensive and something that you should take note of. You
don’t want to end-up spending over 40 percent of your Net Salary on rents and transport. However,
depending upon the combined income of your household, and your preferences, you’d have to
make the decision. Most people plan to stay at a place where they can take the tube line or the bus,
which directly takes them to work.

3. Plan the Direction

Londoners identify themselves with which part of London they are put up in, so that should tell you
how important it is to do some research on this. You can choose one depending on where you work,
affordability, and personal choices. Although, you may not make it to Central London, with a new
job, but you can always try to get as close as you can.
4. Personally visit the places
It is always advisable that you get yourself a temporary accommodation, and personally visit
different areas in London, to figure out which one you like the best. You could talk to your colleagues
about it, and plan a coffee or lunch in one of those areas, just to get a feel about how comfortable
you find it. Until recent, most people avoided settling in the East of London, but things appear to be
settling down in those parts. So don’t be excited about finding a house within your budget, not
unless you have personally visited it.

5. Apartment Share

Depending on your personal income, and situation, you may want to consider an ‘Apartment share’
in London, which works out for most people. This means that you share the accommodation and its
costs with others. You could be two couples living together in a 2-bedroom apartment, with your
privacies limited to your bedrooms only. In London, it is not uncommon for bachelors to live that
way either, so if you’re just moving into London, that’s the best way to start.

6. Council Tax, Insurance and other Bills

Every Council in London levies a specific amount of Council tax, and this varies from one place to
another. So before you rent out a property, ensure that there is a clause in the rental agreement
that clarifies who is responsible to pay it. Another point worth noting is that this tax can either be
paid in a lump sum or on instalments. Generally, the Council lets you pay it within 10 instalments but
if you fulfil certain criteria, you can do that within 12 instalments. So you need to have absolute
clarity on this, and in writing.
Also, check whether you, as a tenant, are covered under the Building and Contents insurance policy
held by the landlord, or you may consider getting one for yourself. Certain other points, which must
find a mention in the rental agreement include utility bills, repair and maintenance costs, if any. You
must have absolute clarity about who must bear these costs and to what extent.
Before you start looking for housing options in London, it is important that you have your paperwork
in place. Depending on where you hail from, you may have to prove your right to residence in
London. This is comparatively easier for those from the EU and EEA, but may change with Brexit.
Once you’ve found a suitable place, you could lose it within a span of minutes unless you act fast. So
it is recommended that any sort of delay, which may be caused due to paperwork verification,
should be avoided.

The widespread housing crisis of this city is nothing new. However, we’ve listed down some tips to
make this process less of a hassle for you, but with a few compromises.