Saturday, 14 November 2009

Renting in London

A friend of mine sent me a message asking for help finding rental property in London... and I replied with an unexpectedly epic essay on the process of finding places to live.  So I'm going to post it here in case it's of use to anyone else, ever, and also because I just spent over an hour composing this opus.


 I was wondering as to whether you could help direct me to a person/website/agency that can help me find a place to rent without screwing me over. I'm not too keen on high street estate agents coz they're crooks, frankly.. any ideas?

Jessica Louise Wren Butler 5:36ɯɐ ʇɐ ɹəqɯəʌou 14
Hmmm.. well, it's a tricky thing, finding somewhere to live. Are you looking for a place on your own or in a shared house?

I used Acorn for my current place - they do screw you over in terms of charging lots of fees, but I ended up just having to take a place and not really having any time to find somewhere else. They're ok though. And my property was only let by them rather than let and managed, so I have direct contact with my landlord about anything that needs doing, and it will be him that gives my deposit back, etc., so it's not like just dealing with some faceless corporation.

On the other hand, if you get somewhere that is both let and managed by the agent, it might be more likely that stuff actually gets done - depending on how decent the landlord is - because they tend to just employ their own maintenance people and stuff.

So, agencies aren't all bad news. And they are handy in that they have multiple properties, they can negotiate with the landlord on your behalf so you can make offers without having to go through the horrid bit of doing it face to face, they will usually drive you around to several properties if you have more than one that you want to see, so less hiking around London meeting landlords who may or may not turn up. However, they will charge you about £200 for the privilege of printing off bits of paper and giving you keys.

I think it's a balance - individual landlords can be better if you get a good one and it's all above-board. The problem is, finding them. Gumtree can be very good, and is definitely better for south of the river because all the fake ads seem centred on northern places (and there are a LOT of fake ads). With Gumtree you just have to be very careful and if your shit-factor goes off even slightly, AVOID! Because there are a lot of scams on there, or just people who you probably wouldn't want to be your landlord. Also, agencies have really got into using Gumtree now, so you need to check whether it's actually a private listing or not.

The Loot is also a good way of finding private lettings - comes out three times a week, but you need to get in there QUICK. Anything decent goes practically instantly, so buy it the morning it comes out and ring about anywhere interesting immediately. Less good things about the Loot - it really varies how much property there is, and it depends where you want to rent - I usually had a flick through in the newsagent and only bought it if it looked like there were things I was interested in. Several times there was just nothing around in the areas I wanted to rent in. If you're feeling really stingy you could just take down the numbers without buying it.... I don't advice using Loot.com though because it's a bit like Fish4 and anyone can submit online ads, so you have to sift through an awful lot of crap.

Newsagent windows are also handy - walk around the areas you're interested in and look at the ads they have up.

I'd say don't rule out agents, because if you find the best property with one of them it's probably worth the exttra couple of hundred quid. Also, with the market like it is a lot of rent has to come down in price, but most landlords haven't really realised this - they still expect to get as much or more than they did the last time they let the property. This isn't realistic in the current climate, and a lot of property is empty as a result. I did a lot of talking to agents when I was hunting and they were saying that some landlords are quite difficult about it - the advantage of going through an agent is that they can express this to the landlord, and they might be more apt to accept an offer than if you deal with them directly.

HOWEVER, there are a few things I learnt about agents:

* NEVER use Foxtons. They are evil, and their fees are ridiculous.
* Don't pay more than £250 in fees - it isn't worth it, and £150-£250 is average, so more than that is taking the piss.
* Don't let them pressure you into a decision if you aren't sure, because they will try - they want their commission after all.
* Don't get into a bidding war - if they tell you someone else is interested in the property and encourage you to offer more rent so you can secure it, walk away. It probably isn't true, and you will be able to find somewhere else.
* Don't use Spacelet, Flatland, Interlet... erm... I can't remember all the names, but these are scams that charge you to look at properties. they advertise amazing looking places for practically free and it is lies. Once you register and give them money, they show you all the shitty expensive places everyone else will show you for free. Lots of Gumtree ads, especially north of the river ones, are put up by these companies. Luckily I didn't learn this from experience, but lots of people have. In fact, if anywhere asks for money before you've accepted a property, don't get involved.

Good places to find property from agents:

* rightmove.co.uk - agents can submit their properties and you can search everything that's available in the areas you're looking for. You can also send a blanket email to all agents in the area and they will register you on their database and call you when new stuff comes up. Beware that this means you will be literally inundated with phone calls for a while. Obviously not all agencies use this site, so it won't be everything, but it is good for getting an idea of the going rate for what you're looking for is.
* findaproperty.com - works in the same way as Right Move, but I don't think it's quite as good. However, it does tend to get more stuff and it's worth looking at.
* In my experience, similar sites like propertyfinder.com, properazzi, globrix, etc., are not worth the hassle - they don't get as many listings, and what they do have tends to be the same as the two up there ^

Things to bear in mind when using those sites:

* It is worth using the advanced search to only look at properties added recently - like in the last couple of weeks, because a lot of agencies are lazy and don't bother to take the property down or mark it as let. Sometimes the properties have been on there for months and were let yonks ago.
* In relation to the above, if there was something I was interested in, I would usually go to the agent's website and see if it was still advertised there, rather than ring up and waste everyone's time. They tend to update their own sites regularly, so it will tell you if it's still available or not. A few agencies only use rightmove or findaproperty, but if they are one of those they tend to be quite good at keeping their listings current.
* If you send a mass email to agents, they will probably ignore everything you say in it other than the fact that you are looking for a property, so be prepared to re-iterate your requirements and don't be surprised if they offer you places that don't meet the stiuplations you made in your initial enquiry.
* Keep an eye on what's around over time - if you keep seeing a place come up, it might be worth a look. It used to be true that anything around for longer than a couple of days was a shithole, but it's not so much the case with rent as it is at the moment. If it's been empty for a while, it could just be that it's overpriced, and you might be able to get a good deal on it.

In fact, on that note - ALWAYS make an offer. there's no point just paying the asking price - you may as well see if you can get some money off, because the worst they can do is reject it, and then you're back where you started. Plus, agencies, at least, expect offers, and I'm fairly sure they price above what they expect to get. Some agents are more amenable than others to telling you what the landlord might reasonably accept, and it's worth taking it with a pinch of salt anyway because they get commission, and obviously the higher the price, the more they get.

... apparently this message is too long (!) so continues....
Jessica Louise Wren Butler 5:36ɯɐ ʇɐ ɹəqɯəʌou 14
... Agents are helpful, but I think it helps to think of them as double agents. While they are dealing with you they are working for you, but they are also working for themselves. They want money, they want YOUR money - they want you to be happy with the property, and ultimately they want you to rent it, because the sooner it's let the sooner they start earning. The good ones understand that if you are happy, that is better for them in the long run - if you take the property for less than they wanted you to, but you take it now, they will still be better off than if it sits empty for another month and ultimately goes for more. Also, you will give good word of mouth, will be a nicer customer to deal with, and will be less likely to back out.

There are bad ones, too, who only seem to care about the money and have lost sight of the fact that they are dealing with real human people who are going through the very stressful experience of finding a new house and having to move into it. If you get one like that, just don't go back to them. Good agents will recognise that it's important that you feel good about the process and will remember that what for them is just a job, with you being one of thousands of customers they see in a year, for you is a pretty major event. I guess it's not important to everyone that the agents they deal with are nice, but I at least find houseunting EXTREMELY stressful, and if the agents/landlords are nice, and helpful, and seem to see me as a human being, and are doing their job properly, then the whole thing is a lot less stress. Unfortunately a lot of people don't seem to realise that if you are less stressed that is better for them, because they don't have to deal with a stressed person, and they really don't see that a lot of the time they have a big influence on how stressed out you are.

There are a few agencies that I found which were good for what I was looking for - a studio/one-bed, low budget, south-east London - and seemed to have quite nice employees. Bear in mind that studios are hard to come by if that's what you're looking for. They are popular, and there aren't many around. Agents worth registering with or checking regularly:

* Acorn
* Eaton Green
* Ludlow Thomson
* Wooster and Stock
* Winkworth
* Rocodells
* Leaf Lettings
* Oaklets
* KushyMove

Ludlow and Wooster don't have that much bottom-budget stuff, but the quality of their lettings seems to be better than a lot of other places so I tended to keep an eye in case anything did come up.

Wow, sorry, this is mega long! And it probably tells you mostly stuff you already know, but I thought I may as well cover everything. I've done a lot of property hunting in the last few years - rented six places since 2005 so I've spent much more time on all this stuff than I would ever want to!

Have I even answered your question?! I don't know. I'm probably just wasting your time, but that is, well, everything I have to say about the process of renting property. There isn't, sadly, just one place you can go, or one person you can go to, to find somewhere. It is an awkward, lengthy, stressful process, but the upshot of having spent lots of time going through this process is that I keep getting better at it. I now know which places are good to look, what to avoid, how to deal with this weird world of estate agency, and know which corners to cut. This immensely epic message is a distillation of that knowledge.. I hope some of it is helpful!

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