Renting in London – fighting back on behalf of generation rent
This article was provided by Will Harrigan, founder of Deposit Doctor – leading the rental revolution for tenants across the UK.
With more than 50% of Londoners now estimated to be living in rented accommodation the demand for rental properties in the capital is greater than ever before. Given the limited supply of properties on the market, the balance of power has shifted in favour of landlords who in many cases are just out to make a quick buck. The increase in demand over the past few years has put landlords in a position to charge spiralling rents for properties which don’t always meet the requisite standards. Indeed, it is estimated that 39% of privately rented properties do not meet the Government’s decent home standard. The Government itself has described the rental market as ‘the property industry’s Wild West’.
However, price is still the main concern for many renters, and according to a survey by lettings group LSL, the average rent paid by private tenants in the capital was £1,057, compared to £725 for the UK as a whole – a difference of more than 31%. The high cost of renting in London is being felt in particular by students and interns. According to a recent survey by studentbeans.com, 8 out of the UK’s 10 most expensive universities for student housing were in the Capital. Those without the luxury of university accommodation to fall back on can often find themselves paying over the odds for a property due to a lack of familiarity with the capital and its pricing structures. Amongst the most likely to be taken advantage of by overcharging landlords are thought to be international students and interns who have little knowledge of how to rent in the UK or of the potential pitfalls involved. According to the same survey, two-thirds of UK-based students and interns felt they had been taken advantage of by landlords and estate agents. 50% of students and interns renting properties from private landlords do not receive back their full deposit while one in 10 receives nothing back at all. As our largest financial outgoing seeking rental assistance is strongly recommended.
At Deposit Doctor we are revolutionising the way we rent property and working to ensure that more is being done to protect tenants’ rights in the UK, and shift the balance of power away from landlords. Our team of friendly Deposit Doctors are able to utilise their understanding of the UK rental market and letting law to make sure that your rights are being upheld. Our services include:
• Deposit negotiation
• Rent negotiation
• Tenancy Contract negotiation
• Tenancy management
• Rental relocation
We are a small but perfectly formed outfit, comprising friendly ARLA and RICS qualified experts. We provide a bespoke service to our clients and pride ourselves on being able to solve any rental problem or need. Unlike letting agents who represent landlords we represent you and are fast becoming the #HomeOfTenants.
For further information call our rental hotline for free advice on 020 7207 9053. Alternatively email email@example.com or visit www.deposit-doctor.co.uk for more information.
Quote ‘Inspiring Interns’ and you will be entitled to a 10% discount if you choose to use Deposit Doctor’s services!