A simple guide for students renting in London
by Leading Central London Estate Agent Greater London Properties
We are now firmly in the grips of student season we thought it would be handy to write a guide for students renting in London. For most the academic year has ended, and many are in the throes of trying to find student accommodation near to the university across the country. Finding affordable student accommodation in central London is a challenge, with high prices, high demand and a lack of stock meaning that with every year that passes it gets more and more competitive. What often starts out as a fun adventure viewing perhaps your first properties of your own or to live in with friends can quickly descend into a nightmare as you miss out on properties time and time again.
Here are a few hints and tips to help students renting in London stay ahead of the curve and secure the student pad of your dreams.
1 Be clear on your budget
Make sure you (and your friends) know what you can afford. This is crucial over the years we have witnessed many arguments as people fall out over this critical part of information.
2 Monthly rent
Be aware that a monthly rent is not four weeks. It is the weekly rent, multiplied by fifty-two (number of weeks in the year) divided my twelve (number of months in the year) To most this is obvious, but it is surprising to know how many people make this fundamental mistake.
3 Make sure you know what area you want to live in
Be clear on this from the outset. Give the agent clear direction on this, people who are open to multiple areas often end up missing out. You can always re-evaluate later if you need to but make sure at the start you have a clear target area and stick to it.
4 Visit the estate agents
Go into estate agents branches and register with them Greater London Properties have two prominent offices one at 49 Broadwick Street Soho very close to Carnaby Street and a second at 65 Judd Street near to the Brunswick Centre and the UCL campus. Be clear and concise as to what you need and make sure you understand the agents referencing requirements and costs attached. It’s far easier to make more of an impression if you meet them in person and demonstrate you are serious.
5 Referencing requirements
Check with the agents what referencing you and if applicable your guarantors will have to provide. This does vary agency to agency so make sure you understand this and make sure your guarantor also understands their obligations. At Greater London Properties we are very clear from the outset as to what we require so there are no surprises.
Make yourself available. If sharing with flatmates empower each other to make the decision for the group. Every year there are groups who need their other flat mate to see it in a few days and they end up missing out. Apart from being disheartening this does lead to people falling out. At Greater London Properties we offer flexible viewing times till late in the evening to suit busy schedules.
7 Be prepared to make a compromise
The perfect property in short does not exist even if you were to build your own home. Something will always be just that little too small, too big, not bright enough, lacking in just that little bit more storage etc. Be prepared to make a compromise if the property ticks most of the boxes.
8 Above all try to enjoy the experience
Finding what for many will be their first proper property away from there parents is an exciting time. Try to follow the “Magnificent Seven” rules and if you do in most cases it should prove to be an exciting time and at the end of it you will have a property of your own perhaps for the first time.
If you need any further information about students renting in London call Greater London Properties on 0207 734 4062 or 0207 113 1066 (glp.co.uk) to find out more and start your search with us.