The Most Affordable Areas to Rent a Property in London

Do you want an affordable rental property in London? That won’t be the easiest of tasks for you. With the high demand for rental properties, rent prices have continued to increase in this city. Data from the Office for National Statistics (ONS) shows that rent for private rental properties in London rose by 5.5% within the 12 months to July 2023. Still, you’d want to do a comparative analysis to know the most affordable areas to rent a property in the London Boroughs. According to Zoopla, the London boroughs with the lowest average monthly rents include Bexley (£1,520), Croydon (£1,540), Sutton (£1,544), Havering (£1,583), and Bromley £1,609). What are the factors that determine the specific rent amount you pay in these boroughs?

• The specific location

• The type of rental property you want

• Facilities available on the property

So, how do you ensure you enjoy the best rates as you search for affordable rental properties in

London boroughs? Here are the top strategies that can help you in this quest:

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Set Your Rental Budget

Determining your budget is the first step as you search for a property you can rent in London. The rent amount should be within an acceptable limit. Don’t spend all your income on rent – it's critical to strike the right balance. Take your time to ensure you come up with a reasonable for the rent amount you intend to pay.

To ensure you get the best property, don’t set a fixed budget. Instead, have a rent range – a minimum and a maximum you are comfortable paying. Your rent amount determines the locations you can live in within the London boroughs. If your monthly rent budget doesn’t exceed £1,550, for example, you shouldn’t expect to find an ideal rental property in Bromley.

 Consult a Reputable Rental Property Management Company

At this point, you already have an idea of the neighbourhood you want to live in. It’s now time to connect with experts who handle Private Property Management in London. These companies know the properties that are available for renting. So, they are in a position to connect you to properties that match your budget.

What other reasons make these agents your go-to individuals when you need a rental property? First, they know vacant houses that aren’t listed yet – such properties can suit you. Moreover, they have a wide range of properties to show you. After you view a variety of properties, you are in a better position to pick one that suits you.

 Seek Recommendations from Friends and Relatives

You may have friends and relatives who live in these boroughs. They can suggest to you the locations their properties are in and the approximate rent amounts. To get the best from these recommendations, ask about the living conditions in these properties as these friends may already have first-hand experience renting them.

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Move in Fast When You Find a Property That Suits You

Rental properties are in high demand in London. So, it’s a good idea to move in quickly when you find a property that is within your budget, in a location you love, and with all the facilities you require. However, you still need to go through the tenancy agreement to ensure you’re comfortable with the terms of the agreement.

While London isn’t the most affordable city for a rental property, you can still find properties you can rent in boroughs such as Bexley, Croydon, and Sutton. The trick is to search carefully. For example, companies that provide London Guaranteed Rent schemes can show you properties you can afford.