London is a beautiful city full of rich history, lovely architecture, culture like no other, and thick with the arts. Visitors flock by the millions to the UK every single year and more than a few find the city of London simply too enticing to pass up. Because this city has so much to offer, it draws countless people to its limits, beckoning to them them to stay. Obviously in a city so rife with appeal and countless points of interest, the number of people wanting to say stay creates a dilemma for those looking to turn a rental property into a home. Why? There is such a high demand for rental properties.
Finding Rental Properties
Finding rental properties can be quite difficult not only in London, but in the entire UK. Rental properties are incredible hard to find, making finding a good one an almost impossible task. This is especially true for those who have not sought out the help of a good real estate agent to aid in the search. The housing market in London can be both difficult to manage and incredibly expensive. Because of the incredible demand for such properties, they tend to sell very quickly. London’s property is comparably higher when compared to any other city in the world. When renters are facing those kinds of odds it truly makes it infinitely more difficult to find appropriate places to rent.
Because the odds are stacked against those looking properties it is important to start looking prior to moving to London. Thankfully, there are more than a few great property agents that can be used to help facilitate the search process. They can seek out properties based on those criteria the renter is looking for and create a list allow them to weight which ones would best meet their needs.
2 Ways to Find Properties
Whether living in London, on the outskirts of London, or anywhere within the UK, there are two common ways for finding properties. For some people, those true go-getters, can get rental information about specific properties in London or in the surrounding areas. For others it is simply overwhelming to take on something so involved. They would greatly benefit from the second method to finding properties which is to use a real estate agent to search for properties based on the specific criteria given by the renters. They can compile a list and present them to the renter who can then go through each one and determine which would best suit their needs.
Direct Search for Rental Properties
There are a number of different sources renters can use when searching for properties on their own. There are always properties listed in the local newspapers, forums, and on various websites. Renters can always browse these properties at their leisure and never need to worry about having to pay any service fee or agency fees. It is important to stress that those who are searching using this method and not going through an agency have to be willing to face the risks that come by searching for rental properties without going through an agency. There are numerous sources to find properties in some of the most popular London neighborhoods such as Shoreditch, Clapham, and Maida Vale. These property listings will show the rate and give important details about the space.
By doing all the work associated with the search process, renters not only avoid the agency fees but allows them to directly interact with the landlords directly. The contact information is always listed and easy to find. This also allows renters to react more quickly than waiting on an agent to contact the property owner and then get back to the renter with the appropriate information. Sometimes, waiting even just a single day can be too long. The properties go quick in London. This means more viable options and the ability to garner deals with eager landlords to finalize short-term rental agreements. It also helps renters get around one stumbling block while dealing with real estate agents and that is to have proof of employment. When dealing with the landlords directly, this is not necessary.
One downside to searching on their own is the amount of time it takes. For every one property found, it might take reaching out to ten landlords about properties already rented. It can become frustrating and aggravating and consume a great deal of time to work through the property listings looking for the specific features applicable to their liking.
Using a Real Estate Agent to Find an Excellent Rental Property
While this is without question the safest in terms of having any and all paperwork in order regarding the rental agreement and terms of the lease. While this is the case, it also takes a bit more documentation such as proof of employment and proof of resident in the UK. And while it is not mandatory to have a bank account in England, it can sometimes be required for specific properties. Reference letters from previous landlords might also be required.
A real estate agent can also provide renters with the ability to enter in a legal agreement with their agency and by extension the landlord. This can be important if a dispute arises between the renter and the landlord. This can be relied upon in time of need. The renter can turn to the agency if other problems arise as well. Agency fees solidify the legal agreement and offer peace of mind while searching.
While either option can provide the renter with excellent options to find rental properties, it is a decision only they can make. They know what they are comfortable with. If they are okay with doing all the leg work themselves then they should go ahead and do it. However, if they are nervous about negotiating the terms of the rental property or meeting people in person, then perhaps having an agent involved would be best for them.