@ King’s Road

London’s rental market is hot despite the cool summer and we cannot help but worry about what will happen in August and September which are traditionally the busiest months of the year. Existing tenants are not too worried as most landlords do not have the need to raise the rent. At the entry level, however, the competition is tough and prices sky-high. Association of Residential Letting Agents (ARLA) advises tenants that a good preparation is essential in order to secure the home that meets your needs:

Work out your priorities

Before booking viewings, set in place key ‘deal-breakers’ as well as areas for compromise. Knowing what things you’re willing to be flexible on can aid the decision-making process and help your agent select properties to suit your specific needs.

Be prepared to make a prompt decision

With the best properties often being let quickly, it is important to be able to make a swift and informed decision. However, it it’s even more important not to feel pressured into accepting a property that does not fit your agreed standards – quick decisions are different to rushed decisions.

Don’t go it alone

As the adage goes, a problem shared is a problem halved, which is why it can be useful to bring a friend or family member along to any viewings for that crucial second opinion. Further to this, using an agent can make the process easier. Licensed ARLA members have industry-leading market knowledge, and are regulated – giving you access to client money protection and a redress scheme – as well as an informed opinion

Get a flavour of the local market

If you are moving to a new part of town, check it out on foot to get a feel for the area before you begin your search. It is also a good idea to conduct online research into average rents for the area early-on to build up a picture of likely prices and adjust your own expectations – or budget – accordingly.

Get your house in order

If possible, try to get your references and deposit ready before beginning your search, to minimise delays once you have found the property you wish to rent.

Have you got some great tips for London tenants before the madness starts?

This entry was posted on Thursday, July 21st, 2011 at 12:00 am and is filed under Tips for Tenants. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.