Renting a property in the English capital isn’t as easy as you may think as there are several factors that you should consider before you sign a tenancy agreement. Here are the eight things that you should take into account before you rent a house or commercial space.
Most people wrongly assume that having a monthly fee is enough to rent a property. The truth however is that there are a lot of hidden expenses which you must cover before you are able to sign an agreement with your landlord. For example you will most likely have to leave a security deposit which can amount up to three monthly fees. In some cases you will also have to pay administration and referencing fees which vary in dependence of the real estate agencies with which you have been working.
There is a big difference between renting a property which has kitchen appliances and which doesn’t. As you can guess the latter has a lower monthly fees but it also means that you will have to purchase items such as an oven, refrigerator, microwave, dishwasher, coffeemaker and etc.
Being a tenant doesn’t liberate you from bills. You will probably have to cover all monthly utility costs such as:
- Electricity or gas
- Landline telephone
- Cable, digital or satellite television
Your potential landlord may seem like a decent gut but you shouldn’t take his word for granted. Instead conduct a detailed examination of the property to determine its states. Once you are done, insist that all damaged and problematic areas and features are described in an inventory list so that you can’t be held accountable for them when you decide to vacant the rental unit.
Your relocation expenses will be determined by several factors such as hauling distance, quantity of moved goods, floor on which is located the rental unit, property accessibility, presence of an elevator and etc. So, choose carefully the type and location of the property that you wish rent in order to maximise your moving costs. Keep in mind that you can easily find reasonably prices home removal services in London.
Read the tenancy agreement:
Once again be thorough and don’t just sign your rental contract. Read it carefully and turn attention to the small print. If necessary take it to your lawyer and have it checked for any clauses which may put you in a disadvantage. Be extra careful with the eviction section, so that you can learn when and how your landlord can ask you to leave and when he/she can’t.
Just like with the kitchen amenities, a furnished rental unit has a higher monthly fee than an empty one. However, buying new furnishings can be very costly, so take your time to do the math and access which options best suits not only your desires but your financial means as well.
Check other properties in the area:
You can learn whether the demanded rate is fair by checking other similar rental units in the area. Furthermore, you never know as you may end up finding a property that you like more.