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Renting Property

United Kingdom (UK) - Renting Property



Houses and flats (apartments) to rent can be found throughout the UK, with a particularly large rental market in London. Private letting agencies can generally be found in most cities and major towns or online, often combined with real estate agencies; these will charge a fee on any rental agreement arranged through them. There is a government-run National Approved Letting Scheme, which includes details of registered lettings agents on their website: http://www.nalscheme.co.uk/. Properties available for rent are also advertised directly by landlords in local newspapers and specialist property magazines, and you might check whether your local council holds a list of accredited landlords in the area.

It is possible to find both furnished and unfurnished rented accommodation, with both types usually rented out on assured short-hold tenancies. Typically, properties are rented for six months or one year, with the option to renew the lease. Rental prices usually reflect the market rate, and there may be restrictions on rent increases, depending on the type of tenancy agreement used. It is quite expensive to rent good quality housing in the UK, but rental prices do vary significantly between locations. It is very expensive to rent housing in central London.

Average monthly rental prices for houses in early 2005 were:

Central London GBP2,604
Rest of London GBP1,412
Rest of South East GBP1,131
South West GBP954
Midlands GBP732
North West GBP852
North East GBP690
Scotland/Wales/Northern Ireland GBP723

Average monthly rental prices for flats in early 2005 were:

Central London GBP1,663
Rest of London GBP1,061
Rest of South East GBP723
South West GBP599
Midlands GBP503
North West GBP659
North East GBP570
Scotland/Wales/Northern Ireland GBP532

Source: Association of Residential Letting Agents

The landlord will usually ask for a deposit of at least one month's rent, and will often also require bank or employer references.

When renting accommodation, it is important to sign a tenancy agreement setting out the responsibilities and rights of both the landlord and the tenant. This should include the date you begin the tenancy, amount of any deposit and the circumstances under which money can be deducted from it, the amount of rent and what is covered by it, timing of payments, details of any payment review arrangements and the length of any fixed term. You should also sign a copy of an inventory setting out the condition of the property and the details of any furniture and other items within the property. Gas and electricity charges are usually excluded from the rent but a portion of water costs is sometimes included. The landlord will in most cases be responsible for payment of service charges for apartments. You need to clarify whether or not council tax payments are your responsibility or included in your rent.






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