The Property Rental Guide for London and UK

The secrets the property business doesn’t want you to know, the insider truths on how to avoid scams and dodgy agents when searching for flats to let and hints and tips on how to find the best property at the best price.

It is widely understood that the lettings agent are like cowboys in the Wild West. This is because there is limited legislation governing their activities. So as a tenant you have to be on the ball. This document will provide you will the best tools in order to protect yourself from scams, dodgy agents and fraudsters.

Decide what you are looking for and research the market

When you decide you need a property, you need to decide what you want. This sounds obvious but most people waste time looking at properties they are not interested in every available free property listing. Also research your area, find out what kind of area you want to live in, and find an area which suits those needs. Think about the consequences of various living arrangements such as sharing, living alone, or traveling. Decide a budget and stick to it, and don’t ever let a good salesman get you to commit to something you simply can’t afford. When deciding your budget, consider your income along with usual spending habits and don’t fall into the trap of underestimating bills such as council tax.

Areas of London

You need to carefully research the area you want to live in; this information is available widely on the internet and is being built up in our forums. You need to think of what you require from an area and which areas fill those needs best. Don’t be afraid to travel since journey don’t tend to vary so much as you would think, you can check these journey times on the tfl journey planner website. People who live further out, i.e. Zone 3 outwards have been shown to be happier in studies, because their lifestyles are much improved from the cramped conditions of central London. Remember that certain areas of London particularly the more prestigious areas are lucrative for scammers so you are much more likely to come across them. Visit the property at several different times before spending any money in order to determine how the area changes at various times of day. Also the most sensible and beneficial solution is ask people, and consider factors such as safety, especially if you are a night owl.

How to find a property

Look everywhere don’t limit you to conventional methods. Understand the cost and benefits of the various solutions. Agents can be very good; since they have a wide variety properties and can help you find somewhere fast. However agents charge fees, some of which can be extortionate. They also charge landlords commission, usually around 10% a year, this is simply added on to the rent. Since agents are salesmen and business men they don’t care about you, only your money and will happily rent an unsuitable property to a client just for the commission. Private Landlords are concerned about getting their rent on time and finding someone who will respect their property. Since they don’t pay agency fees they are much more likely to negotiate on the rent in order to get the right person. Landlords can be a little passionate about their property so be careful what you say. Making insensitive remarks about their property won’t buy you good favour. www.livesimply.co.uk offers an excellent way to find the best private property available, so that you can get the best property at the best price. With no agency fees or commission to pay, yet the functionality of an agent you get the best of both.

When you get to the property

Take a good look around and ask the right questions. Start the journey from where you intend to travel to each day so that you know exactly how to do it and how long it takes. Before you set off use the tfl journey planner to suggest the best route and print off a map from www.streetmap.co.uk, make sure you have the postcode. Inspect the area have a look at distances to things you want, like supermarkets, banks, work etc. Also keep your eye out for unsavoury locals such as gangs of youths, drug dealers and rubbish on the street.

Check that everything works toilets, showers, doors windows and anything else included. Ask what is included exactly and what is not and make sure you get it in writing if the landlord accepts any extras. Ask about the deposits and bills etc. Which bills are included and which aren’t. Ask which council take band it is in.

If any work needs doing make sure you get written confirmation of this before you hand any money over. Check for damp and mould and obvious signs of structural problems such as large crack in the walls above doorways etc.

Ask about facilities you need such as laundry facilities, entry systems etc. If you need parking ask if it is permit or private.

Negotiating the best deal

So you have found the perfect property, well done. Now the work is starting, negotiation. Properties are advertised at a higher price than the landlord actually will accept. This is to allow for negotiation. Don’t make stupid offers, but usually a £5-£10 lower offer will be accepted, sometimes more but you will have to be lucky. However don’t be stupid and insult landlords with ridiculous offers this could annoy them and cause them to refuse any offer. If you agree any extras get this in writing and get it signed. If you can move in straight away you are more likely to get an offer accepted since the landlords lose less weeks rent. You can always push for new mattresses, a fresh lick of paint, certain electrical appliances etc. but make sure you check the flats finished before you sign the contract.

Maybe if you pay more months up front you may be able to get lower rent. Be cheeky and don’t be scared, and remember if you don’t ask you don’t get.

Finances

Normally you will be required to leave 1 weeks holding deposit, this is to hold the property whilst you get your references and full deposit together. Try to avoid leaving more than this because if anything goes wrong its more money to get back, or lose. You should only lose a holding deposit if you back out of the agreement. If you are dealing with an agent, avoid paying money on the street; always insist on going to their office. When signing any receipt always read the small print for hidden clauses. The rent will be paid per calendar month, which is weekly rental multiplied by 52 weeks, then divided by the 12 months of the year.

I.e. £100 a week x 52 = 5200 for the year divided by 12 months is £433.33

If you choose to use an agent be wary of contract and reference fees, these are unnecessary and are just extra revenue for greedy agents. A fair price for reference fees is anything less than £50. Landlords do not tend to charge these fees.

The full deposit should be equal to 1 months rent. You will need to leave this in cleared funds before occupation. Always find out who is holding your deposit, and then you know if it’s needed later.

Tips on how to get your money back if a deal falls through

If you need your holding deposit back or deposit, check the agreement you signed carefully, and see if you have grounds for a refund. Normally if it is your fault and you are pulling out of the deal for any reason you will lose your money. However if the landlord refuses you then you should get your deposit back. Always ask for cash when receiving your deposit back.

If it is an agent you are having problems with don’t be fobbed off with claims they will send you a cheque, or transfer money into your account, only accept cash. Only accept cheques if they come with a valid cheque guarantee card number. If the agent is causing you further problem write a formal letter demanding your refund and hand it to them in person. Then wait in their offices and refuse to leave until they give you your money back. Although this seems over the top, most agents will pay you just so you stop causing a scene in front of potential customers.

If it’s a private landlord you are having trouble with do the same at their residential address.

If you still cannot get your money back, don’t waste time with citizen’s advice bureau, and solicitors etc just log on to the website for your local small claims county court and you can register a claim against the agency or landlord. As most reputable agents will not want to ruin their business name this is most likely to be successful. This doesn’t cost a little bit of money but has a high rate of success.