Tuesday, July 19, 2011
Renting a apartment /flat in London
Q - I am looking at renting a apartment /flat in London. They said they quote the rent weekly, but it's due monthly. So, is the rent (280x52)/12 or basically (280x50)/12? I say that because there are 52weeks in a year, but here we are quoted and pay monthly, i.e. 280x4=monthly payment.
A - All rent is due monthly but some quote it weekly as above. To work it out you would 280x4 = 1120. You times the weekly amount by how many weeks in a month. It actually works out cheaper for you to do it weekly. 280x52=14560 or 280x4(x12)=13440 if you divide it like this, yearly amount by weeks in the year13440/52 you are only paying 258 a month. Not much difference but over a year it’s a saving of 1120. Which works out at a months free rent. Some do quote just a monthly amount. Check how they calculate if its weekly it might save you some money.
You can go through letting agents and I suggest you do to avoid dealing with landlords 1on1. Dealing with a Letting agent will make it easier for you and they can help you find out your rights, plus in my opinion it gives you more freedom of space, no one wants landlord breathing down their neck.
Make sure who ever you rent from you read the contract thoroughly do not assume you know your rights as it differs in each country and each letting agent will do things a little differently within the law.
A good source for finding flats houses and studios to rent in London is Gumtree.Its basically Craigslist for the UK. Do your research as to what area of London you want to live in. Each area varies in price and crime rate.
Another option is Airbnb I love this site. Some do long stays and you can rent out a whole flat/apartment or a room and you have the option of knowing a local or going it alone.
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