 |
 |
 |
Finding a Property to Rent
There is no central or multiple listing service in the UK, and so ideally you need to register your requirements with all the possible sources of rental property in your target area, and then build a shortlist of property that potentially meets your requirements. Here we look at some of the ways of getting the job done. Your tasks are:
Relocation AgentsWhy not use a relocation specialist to help you? We'll do all the legwork of finding a house or apartment for you. We'll also negotiate the deal for you, sort out and agree the contract, and attend the check-in when the tenancy starts, as well as arrange for telephone service, and utility accounts set-up. Our service doesn't stop there! We can help you with everything to do with your move. We provide a highly efficient and cost-effective service. Check us out!! 
Letting AgentsThere are many thousands of letting agents in all areas of the UK. Many are large companies, and have both sales and lettings operations, whilst others are small firms with only one office, who deal solely with lettings. If you're using our relocation service, we'll register your needs with every letting agent that covers your target area. Please note that there are no licensing or professional qualifications required by UK law or government, and anyone, even with no experience, can set up as an estate agent, give advice, and accept moneys from people. Never sign a contract, or hand over money (even a deposit) without getting professional advice! In order to help you to understand the rental market, let's split the letting agents into two groupings. The top letting agents are all members of a trade professional organisation known as ARLA, the Association of Residential Lettings Agents. The entry requirements for ARLA are reasonably strict and so, by definition, most ARLA members have been in the lettings business for many years. Most importantly, ARLA run a bonding scheme that protects a tenant against the loss of their security deposit should the agency cease trading. Many ARLA member companies are highly professional, and easy to do business with, but their charges to Landlords are quite high, and so many Landlords use cheaper ways of finding a Tenant. A far larger number of agents are not members of ARLA, and they form our second grouping. Many of these companies are eligible for ARLA membership but choose not to join, whilst others are simply small firms run from residential, rather than office premises. Some are members of the smaller NAEA (National Association Of Estate Agents) Fidelity Bonding Scheme (but not all NAEA members are bonded!!). This sector of the market often charges lower commissions to Landlords, and so is a useful alternative source of good property. Whilst we have dealt quite successfully with a large number of non-ARLA agents and would recommend those particular firms, there are also a number of "here today, gone tomorrow" companies, often in the larger cities, with whom you should avoid doing business with. A relatively new setup claiming to offer "consumer protection" is NALS - the National Approved Letting Scheme, a collaboration between ARLA, the NAEA, and the RICS (Royal Institute Of Chartered Surveyors). It appears to be little more than marketing wheeze guaranteed ( in their own words) to offer its agent members "complete value for money" if they join. Watch this space!! Be aware that letting agents represent the Landlord, and that they earn their living on a commission basis. Don't automatically believe what you're told about a neighbourhood, or a property, as advice can sometimes be biased in favour of getting you to do the deal!! Beware of agents who offer to "research the market for you" or who offer a "free relocation service" - there's no such thing as a free lunch, and agents will only ever show you property that they can make a commission on! "Caveat emptor" still applies! 
Dealing Directly with the LandlordMany Landlords advertise their property in newspapers and so avoid paying agent's commission. This can sometimes be a good source for small apartments and "flat-shares", particularly if you are on a tight budget, but there are a number of traps for the unwary, and it can end up costing you more than going through a reputable letting agent. If you're going to do a deal directly with a Landlord, then try to get the contract checked by a solicitor or other specialist. If possible, get a third party such as a solicitor to hold any security deposit as stakeholder in a separate account. Make sure that a proper inventory and schedule of condition is done when the tenancy starts, and avoid paying too much rent up-front. Its always a useful precaution to credit check Landlords - we subscribe to Experian for just this purpose! Beware of Landlords who might live abroad - you could end up paying their tax bill for them if you pay the rent without first deducting tax! Because of all the possible pitfalls, we recommend that you avoid direct deals with Landlords unless we are involved in setting the tenancy up for you. 
Internet Property SearchThe rental market now makes intensive use of both the internet and email as a marketing tool. Some agents have very good web sites that are updated daily, and that contain fair and accurate property descriptions. However, a disappointingly large number of agents don't update their web sites frequently enough, or have inaccurate descriptions of properties. Beware of agents whose web sites contain properties that, when you call the agent, have "just gone under offer, but I've got something just as good that would suit you!". The property that you looked at on the web probably went weeks or even months ago, and is just being used to fill space and draw you in! The web is a good way to get started and to get a feel for prices, but you can't beat specialist advice and local knowledge. 
Viewing PropertiesYou need to make viewing appointments for your shortlisted properties. In a typical day of accompanied viewings in Central London, we can usually manage to see about fifteen properties. Try to see properties during daylight hours. If viewing through an agent, remember that many agents in Central London are closed all weekend. Outside London, many letting agents only work Saturday morning. The asking rent is usually quoted per week inside the London M25 ring, and per calendar month elsewhere. The asking rent does not normally include utilities, or the local property tax, called Council Tax. When viewing a property, its important to remember that everything (not just the price!) may be negotiable, so if you like the property but would want a carpet replaced or a room repainted, then make a note, as these changes can form part of the negotiations. You may see a large number of properties during a day's viewings, so its important to make notes on each property when you see it, and whilst it is still freshly in your mind, so that you can later easily remember which properties you liked. You'll find that you can dismiss some of the choices immediately, and that the main problem is grading the rest into your personal shortlist. If possible, it helps to end up with both a first, and a second choice just in case you are unable to proceed with your first choice for any reason. Our section on "Finalising The Deal" shows you what to do next!! Happy house hunting!! 3.1.1.1 - v1.2 |
||
 |
 |
 |