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Cost of Renting in London

For anyone thinking of moving to London, figuring out the cost of living here is a smart thing to do. Costs vary significantly depending on a bunch of different factors. According to homelet.co.uk, the average rent for new tenancies in London is £2,127 per month. This gives you an idea of just how expensive a London rental is. In fact, London is one of the most expensive cities to rent or buy a place in the world. If you’re looking for help with renting a flat London, contact us today.

flat rentals

Generally speaking, the closer that you live to central London, the more expensive your rent is going to be. The Mayor of London’s website has a London rental map and as you can see the centre of London is where the most expensive area. As you get further from the centre rental prices ease. However it’s worth noting that any areas within commuting distance to central London will come at a premium.

Another good way understand London rental prices is by researching rental listing sites like Rightmove or Zoopla. Have a look and see how area, size, quality and price all need to be balanced.

If your working with a higher budget  it will certainly open up more options in term of areas to consider. However, most people still need to to think about what trade-offs they are willing to consider. If you’re looking to live in The City, even with the highest of budgets, there is often some sort of compromise to consider (e.g A lovely first floor flat, with 15 foot ceilings, fireplaces, original cornicing, access to the garden square etc. won’t give you a the amenities that a big modern sky scraper will – like a 24 hour concierge).

London Flat Rentals – Additional Costs

Bills

When you rent a home in London, you will be responsible for the bills. This includes electricity, water and gas. Cost will obviously depend on usage, size, number of occupants energy-efficiency etc. If you’re in a 1 bedroom and looking at a basic cost it’s about £150 for gas and electric, £35 for water.  Standard internet (no TV packages added on) will start at around £30 per month.

In the UK on a long term tenancy, tenants are responsible for the payment of Council tax. Check carefully with your relocation agent or the landlord to see what the cost will be. Council Tax is based on location (by Borough) and property value. Certain boroughs (Westminster and Wandsworth) have notably cheaper council tax.

Mobile Phone

If you already have a mobile phone that you can switch the SIM cards out of (or have dual SIM), then you’re set. You can get pretty affordable phone plans if you want to lock yourself into a contract. The snag is that most phone providers look for a UK credit history before allowing a long term contract. You can get pay-as-you-go SIM in the meantime!

Public transportation

Regardless of title and salary, most Londoners use public transportation. In terms of how much that’s going to cost you, again, this varies significantly, generally speaking, the further that you travel on the tube or the train across more zones, the more that you’re going to pay.

Something to think about is that the further out of London you decide to live, the higher your transportation costs are probably going to be; so, for example, if you are going to be living in Zone 5 and working in zone 1, your transportation costs every day are going to be much higher than if you are working in zone 1 and also living in zone 1. Usually, the difference in transportation costs isn’t going to make it worth just living in Zone 1 and paying the really high rent prices, but it’s definitely something to consider and look into.

You can get a travel card and save money. For example, you can get a zone 1 – 2 monthly travel card that cost 125 pounds, but if you have a full-time job and you’re traveling in and out of the city every day, five days a week, then it’s a great bargain

 

Learn More About London Relocation

If you’ve started looking for a flat rental in London or have been investigating for some time, you know just how difficult it can be to find the ideal home. London Relocation has services for corporate professionals, families, or students planning a move to London that will cover all the details of finding a wide selection of your ideal flats and setting up ONE day of viewing. After you choose your ideal new home, we negotiate the lease and assist you to get moved and settled in. Call London Relocation now to get started at 800-903-1658 from the United States or from the UK at +44 20 7993 0422. Our service is 100% guaranteed to find your ideal flat in one day!

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