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For many, the move into private accommodation in London can be a daunting prospect. London is known as the most expensive city in Europe to rent, and the prices seem to continue to rise by 15% over the next five years, according to experts.
The main reasons for the rise in rents are the falling supply of properties to rent due tax changes ( withdrawal of tax breaks and the extra 3% on stamp duty on second homes) and has made buy-to-let properties less profitable
We have also seen an increased demand of rental properties. 50,4% of all households were rented and more people are looking to rent, partly because they cannot afford to buy their own homes.
However, the rental market is so large that is possible to find accommodations that suit most budgets. It is possible to find places to rent in London that aren’t going to eat up every last penny of your salary
The asking rents in Central London have risen to an average £2,000 a month, which may be way above your budget. Of course, different areas command either over or under these average.
Thus, knowing exactly where to find these cheaper areas
Where to find cheap rent in London
The rental costs in each location may vary due to several different factors like the popularity, commuting times, access to amenities and safety.
By looking at 1 person per bedroom and the monthly rent, the most affordable areas in London are the following;
First up is Bexley, which according to our figure is the cheapest place to rent in London.
In Bexley, you will find several attractions like the Green Heritage Centre, Hall Place, Gardens and shopping centre. Bexley station is situated in Travelcard Zone 6 but only 14 miles from London Charing Cross station.
The average rent for a single One- bedroom flat is £760 per month, but only £ 400 per room in a Four- Bedroom property. If you are a couple, it will be the cheapest rent, ONLY £200 per person.
Croydon is conveniently located in South- London and close to Gatwick Airport and with only 15-minute train ride to London Victoria.
Croydon has a lot to offer from delicious street food at Boxpark, Croyden, shopping centres and family activities like bouncing on trampolines at Oxygen Free jumping.
In Croydon you can expect to pay around £880 for a One- Bedroom flat, to no more than £ 510 for a room per person in a Four- bedroom house. If you are a couple, it may only cost you £ 255 per person per month.
Enfield, in North – West London is also one of the cheapest places to rent in London. From Enfield, you will have excellent transport links and only 25 min. away from central London. In Enfield, you will find a lot of history, great restaurants and shops.
In Enfield, you can expect to pay from £ 960 for One- bedroom and only £ 520 for a Four- bedroom per room per person. If you are a couple, you can even reduce the monthly rent up to 50%, which is only £260 per month.
By moving to Hillingdon, you will be located close to one of the busiest AirPort in the World, Heathrow, with excellent transport links to central London.
Aside from Heathrow, Hillingdon is also a family borough with a large population of young people providing a selection of good schools and green areas.
For a One- Bedroom flat you may expect to pay £960 per month but only £ 510 per person per room in a Four- bedroom house. If you are a couple, it will only be £255 per month per person.
If you prefer to live in Central London, Southwark may be the cheapest rent. In Southwark, you will have access to nearby pubs, restaurants, and entertainments like the famous Shakespeare Globe, the Royal National Theatre and Tate Modern Gallery.
In Southwark, you may expect to pay £ 1,715 for a One- bedroom flat. However, by renting a room on a Four- bedroom flat you may expect to pay £900 per person per month. If you are a couple, it may only be £450 PM each.
Our letting service makes the moving easier for you. t’s good to figure out your budget first, then look for accommodation you can afford. Remember to consider the travel costs and the cost of your monthly bills.
Moving slightly further away from a Tube Station
Most of us will like to live within short walking distance from the Tube station, that means that such properties command a higher rents.
Instead, being a 15- 20 minute walk from the station, you will be paying a substantial less in the rent per month plus you get the added bonus of getting regular exercise.
How to rent cheap in London?
Not only does the place matter when it comes to renting costs, but also the time of the year you are looking to rent.
The busiest period to rent during the year is between May and September. In addition to the general guiding prices might be lower outside the Peak -period, Landlords may also be more open to negotiating the rent to reduce the void periods.
You can, therefore, save hundreds of pounds during a year if you are willing to move before the peak- period or delay the moving after the peak -period (between October and April). It might be worth waiting for a month or two to get a better deal.
Did you know that placing an advertisement with a guiding price is not an offer to the tenant but are in fact an invitation to treat? The word ‘treat’ means to negotiate.
Earn Loyalty Rewards
Abito Homes’ Loyalty Scheme is a free Loyalty program. The customer loyalty benefit is built upon a simple point-based system.
In additions to loyalty points, the scheme has also a tier system, meaning that at each tier, you will be eligible for a different selection of rewards.
The different tiers we offer are the following: Gold Elite, Platinum Elite & Spire Elite.
How do I sign up for the program?
By letting through Abito homes.co.uk, a fully managed property you will be eligible for membership. You will receive an email with an invitation. Once you have signed up for a membership, you can start earning loyalty bonus points every month. The membership is FREE with no upfront cost.
How do I start getting rewards?
You will earn 1000 points every month. The Customer Loyalty benefit doesn’t just work with points, you will be eligible for a different selection of rewards depending on the amount of rent you are paying per month.
How do I use a reward I’ve earned?
To find the Loyalty Rewards after 12 months, the quality rate must be multiplied with the number of points.
After a year the points you have earned up can be converted to cash and spent everywhere.
Not only will you get 1000 points per calendar month, but you can also earn extra points over years in loyalty bonus.
We strongly believe that by offering tenants loyalty rewards for taking good care of the properties and fulfil their obligations as tenants will benefit both tenants and landlords, resulting in long term tenancies.