Despite three consecutive interest rate hikes and stress on household finances due to rising taxes and energy costs, the housing market in the United Kingdom continues to boom. The market is seeing a shortage of new homes for sale and rent. Experts say it can’t and won’t go on like this forever, but given the demand-supply imbalance, any significant recession will likely be gradual and soft rather than hard. Still, finding the right property for you may not be a hassle if you have the right help. Seek expertise from a professional who can guide you through the renting process and help in finding you the perfect home at an affordable rent.
Always seek the help of local estate agents who will have a fine knowledge of the property market in the area. If you are looking to rent a property in Bracknell, then choose an expert estate agent in Bracknell to guide you through the renting process. Apart from this, there are also other things to consider to help you in finding the right property.
Take into account your actual requirements.
Everyone has various demands and will be seeking for something special to match their lifestyle, whether they are single or have a large family with tiny children. First and first, think about what the most significant parts of renting are for you, and keep in mind that you might not find exactly what you’re searching for. Although the ideal location and size may exist, it may not be within your budget. Therefore you must be flexible and realistic in your expectations. While a second bedroom may be convenient, you may prefer a garden or to save money on a monthly basis.
Make a budget that is reasonable.
Your needs and your budget go hand in hand when deciding on a budget. If you’re a family looking for four bedrooms, keep in mind that you’re more than likely to find only properties of this size, which means you may have to pay a premium for a yard and additional living space. In contrast, if you’re looking for a one-bedroom flat near central London but only have a £1,000 monthly budget, you’re unlikely to discover anything in these locations and will have to broaden your geographical search. There will be a happy medium between sticking to your budget and acquiring what you want, but you must be willing to make concessions when required.
Limit the scope of your search.
Even if you have your heart set on a neighbourhood because you know it well or have friends and family who live there, maintain an open mind and let your budget guide your search. If you work in central London, read our post on where to rent if you work in Zone 1, which highlights regions where you can have a convenient commute while living outside of the city centre, where costs are often lower.
Begin your property viewings
Don’t be concerned if the first property you view isn’t what you’re looking for. However, keep in mind that what you’re seeking for could not exist when you’re looking at suitable properties. Take a few property viewings to get a sense of what’s available, and if you find anything you like, don’t waste time umming and ahing. The London rental market is competitive, and there’s a good possibility it’s already been looked at by someone else.
Make your best offer.
It’s time to make an offer with the agent once you’ve located a property you like. It’s sometimes possible to make an offer that’s less than the asking price, but this won’t please every landlord. To enhance your chances of being able to rent the property, we recommend making an offer that is as near to the asking amount as feasible. The day you can move in may have an impact on your offer, so try to keep to a date that is as near to the day it is available as possible. This is also the time to make any requests to the landlord regarding any changes you would want to see.
Organize your documents.
While it’s usually best to have documents ready ahead of time, if your offer is accepted, the seventh step in the renting process is to get your paperwork in order.
Seeing your identification in person
Address proof is required.
Conducting a Right to Rent check at the branch
Getting three months’ worth of bank statements
Obtain a character reference from your existing landlord.
A letter of recommendation from your employer
The landlord will then review and approve the paperwork.
You must pay a deposit and sign a contract.
Paying the deposit and first month’s rent, as well as signing your tenancy agreement, which is the contract in which you formally agree to rent the house, all happen at the same time. Your landlord will sign the tenancy agreement at this time, and you will have the opportunity to ask any questions or express any concerns you may have. You’ll also need to set up a monthly rent standing order.
When you approach renting in this step by step process and with expert help you will definitely be able to rent good properties despite the supply crunch in the market.