Essential Lettings Guide for Renters

Posted by Foxtons New Homes on 1st November 2022 -

As you can see in our latest Lettings Market Report, competition is intense in the London lettings market, so you're bound to have a lot on your mind when you start apartment hunting. To make sure that the process of finding your London rental is as seamless as can be, here are some of the essential things you'll want to remember.

Timing is everything

Start looking for accommodation ideally 4-8 weeks ahead of your move date. Property portals are a great place to start to get an idea of prices and areas, but many properties are snapped up before they even reach a website. 

Get in touch with an established, reputable agent, as they may have suggestions for an area that you hadn’t thought to look in before, and they can alert you to any brand-new properties on their books that haven't hit RightMove and Zoopla yet. Our local team can help you if you registering with My Foxtons.

Be realistic about what you can afford

There will be other costs in addition to rent, such as utility bills, TV license, broadband, contents insurance, council tax and of course food, travel and general living expenses, so make sure that you make a realistic offer on the property you like.

Even if your offer is a bit lower than the asking price, agents are obliged to put forward all offers to their client for consideration – the worst the landlord can do is decline. So, there is no harm in putting in an offer. 

Get your paperwork ready 

This means having a valid passport and visa (if applicable) to demonstrate your Right to Rent, which is a check landlords and agents are required to carry out prior to granting a tenancy. They need to see you in person and check your original photo ID in order for this to happen.

You will also need to provide a minimum of three months’ bank statements, an employer reference and a current landlord reference. If you have questions about the paperwork, get in touch - we're here to help. 

Be prepared to compromise

There is no such thing as the perfect property – there will most probably need to be a compromise somewhere along the way. What is the feature you could do without? Is it having a parking space? A concierge? Could you look at properties on the next stop along the tube line? There's some great advice on expanding your search in our article, Moving London: let's find you a rental.

An established agent with a wide enough network of offices can show you properties across various locations, which is how many people discover new parts of London alongside their next home. 

Read the tenancy agreement before signing

When a let is agreed, the most common type of contract the agent will produce is known as an Assured Shorthold Tenancy (AST). It will include the address of the property, all landlord and tenant names, the rental amount and date it is due, plus any specifically negotiated terms.

Contracts do not automatically include a break clause, so make sure you understand the potential costs of terminating your tenancy early, just like you would with a gym or a mobile phone contract. 

Move in day to-do list:

• Contact utility companies, set up an account in your name and supply opening meter readings
• Check out utility options on www.uswitch.com as the standard tariff is often the most expensive 
• Sort out a TV licence online on www.tvlicensing.co.uk (even if you only watch TV via live streaming on a laptop, you’re still required to purchase a TV licence) 
• Contact the local council and register for council tax to set up any appropriate discount/exemption 
• If you have contents or car insurance, be sure to let them know your new address to maintain your policy cover
• Get yourself on the electoral roll if you are eligible to vote as this can help improve your credit score

If you are considering looking for a new home to rent, contact one of our local experts or visit our dedicated lettings section to start your search. And if you are thinking of letting out your property and would like some advice, get in touch for more information.

 

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