The London rental market can be an overwhelming and complicated place to navigate, especially if you’re a first-time renter. With its high rental prices, lack of available housing, and strict rental regulations, finding a studio apartment in London can be a daunting task.
However, with the right knowledge and some savvy research, it is possible to find a great studio apartment in London. In this guide, we’ll discuss the basics of the London rental market, what to look for when renting an apartment in London, and the benefits of renting in London. We’ll also provide a step-by-step guide to help you navigate the maze of the London rental market and find an apartment that meets your needs.
Introduction to the London Rental Market
London is a city of over 8 million people, with a vibrant culture and a strong economy. It’s no wonder why so many people are drawn to the city and want to rent an apartment in London. However, the London rental market can be difficult to navigate.
Rental prices in London are among the highest in the world (But, good news! Prices are finally starting to drop after 10 months). Although there are many apartments available, the competition for them is fierce. As a result, many people are unable to find a suitable apartment in their price range. In addition, London has some of the strictest rental regulations in the world, making it difficult for renters to find an apartment that meets their needs.
How to Find an Apartment in London
As stated previously, finding an apartment in London can be a challenge. However, there are several things you can do to increase your chances of finding an apartment that meets your needs.
You should start your search as early as possible (keep in mind though that properties are most likely going to become available about 3-4 weeks before your move-in date). The rental market in London is extremely competitive, and the best apartments are often snapped up quickly. Starting your search early will give you the best chance of finding an apartment that meets your needs. You can use our Find Properties service to get started!
You should be open in looking at as many areas as possible. Research the different boroughs in London and be ready to sacrifice travel time for better apartments. Every area of London has its own unique characteristics, and it’s important to find a borough that meets your needs (of course this depends on your budget). Look for areas that have the amenities and facilities you need, such as transportation, grocery stores, and parks.
You should think about everything that you would want your home to have. Think about how many bedrooms/bathrooms (depending on how many people you are going to live with), your ideal move-in date and your budget per month. This will help you narrow down your search. You might not find a property with everything, but it is good to have it in mind.
You should think about what type of accommodation you are looking for. This highly depends on your budget. For Zones 1 and 2 a budget of under £1000, you are most likely going to be looking at shared rooms. Moving to the outskirts, the so-called Greater London, you can start looking at not shared accommodation with a lot more options.
You should familiarize yourself with all the property searching websites that are out there. Some of them advertise similar properties but it is worth going through all of them. Here are the top 5 websites you should begin looking at: - Zoopla - Rightmove - OpenRent - OnTheMarket - SpareRoom Then, there are all the estate agents that operate around London as well. Most of them advertise their properties on the above websites, but some of them don't. So, if you don't manage to find anything on the above, you should also try them. Place all of your desired information you came up with from the previous steps in the above websites and start searching!
Finally, you should be prepared to act quickly. Once you’ve found an apartment that meets your needs, you should act quickly to secure it. The best apartments are often gone within a day, so be prepared to make an offer as soon as possible.
You should use viewio to send a local attend viewings on your behalf. Get started here! viewio allows you to send a local to attend viewings for you. This will save you time and money and make sure you find the best apartment for your needs.
What to Look for When Renting an Apartment in London
When you’re looking for an apartment in London, there are several things you should consider.
You should look for an apartment that is in a safe and secure neighbourhood. This is where viewio's service comes in handy. By sending a local to view a property for you, they will also share with you important information about security in the neighbourhood.
You should look for an apartment that has all the necessary amenities, such as transportation, grocery stores, and parks.
Look at availability dates. Don't waste your time on properties that are not available when you need them.
Be wary if the apartment comes furnished or unfurnished. Unfurnished apartments are cheaper but think about all the indirect costs associated with it. A lot more of your time will need to be spent on finding moving companies and getting quotes or finding furniture yourself.
Always keep in mind your commute. Going to work or university can be a challenge in a buzzing city like London. Rush hour can be a great pain and it will be nice to find a rental as close to your work or university as possible.
Finally, you should consider the rental regulations in London and all the documents you will need. Make sure you tick all the boxes for the properties you are looking at.
The Benefits of Renting an Apartment in London
London offers buzzing nightlife, great universities, amazing food experiences, tons of different activities and amazing people. So, renting in London allows you to immerse yourself in all that the city has to offer. It also allows you to open yourself up to new financial or employment opportunities. Finally, it’s a great way to meet new people and make new friends!
Navigating the Maze of London Rental Market - A Step-by-Step Guide
Navigating the London rental market can be daunting, but it’s not impossible. Here’s a step-by-step guide to help you find a great studio apartment in London:
Start your search early (but not too early, most properties become available 2-3 weeks before your move-indate)
Look at as many areas as possible.
Write down everything you are looking for (bedrooms, budget, move-in date, location, neighbourhood).
Shared or not-shared properties?
Use our Find Properties service!
or Start searching through property searching websites.
Look for safe and secure neighbourhoods with all the necessary amenities.
Look at availability dates.
Unfurnished vs Furnished, keep an eye out.
Keep in mind your commute time.
Be prepared to make sacrifices. Either increase your budget, go for a smaller home or a home further away that increases your travel time.
Be prepared to act quickly and have all your documents ready (Visa, Guarantor, Job confirmation, scanned documents etc.)
Enjoy the benefits of renting an apartment in London.
Don't you worry!
Finding an apartment in London can be a daunting task, but it is possible. By following the steps outlined in this guide, you can navigate the maze of the London rental market and find an apartment that meets your needs. Good luck!