Flat For Rent In London

If you are looking to get yourself a swanky flat for rent in London, the high prices you will encounter could prove to be a dampener in all your efforts. The high rentals has been a problem plaguing the plush capital city of London for quite some time. Th

If you are looking to find a swanky flat for rent in London, the high prices you will encounter could prove to be a dampener in all your efforts. The high rentals has been a problem plaguing the plush capital city of London for quite some time. The standard of life afforded by London is next to none, which is the reason for high flat rentals.

Another primary reason that restricts your chances of landing yourself an affordable flat for rent in London is the Housing Act of 1988. This piece of legislation gives the private landlords a sense of security in that they could regain possession of the property at the end of tenancy period, without any kind of legal restriction, which was not the case prior to coming into force of this Act.

Though Assured Shorthold Tenancy (AST) has somewhat restored the balance, the rental market in London is tilted heavily in favour of the landlord with the allowance of annual rent up to £25,000 or £480 per week.

Another reason for high prices for any available flat for rent in London is simple economics. London is considered as a land of opportunities. Therefore, people from all walks of life and from different countries flock to the city for work. This creates a tremendous demand for short-term, medium-term, as well as long-term rental property. In effect, the rental market of London is an entirely landowners' market, where the price of rental property is directly proportional to its demand. It has also created a situation where rental disputes are also on the rise.

Having understood the reason for high rentals in London, it's time to cheer up now! You can still land cheap flat for rent in London. All you need to show is some diligence and some awareness. Internet is the obvious starting point for your search. It is advisable if you look at rentals prevalent in different areas of the city, like Clapham North, Streatham, City, etc. The decision-making is simplified when you have all the information, you need to arrive at an informed decision, just a click away.