London is an attractive city, both for individuals and companies. It attracts people from all over the world and offers many opportunities for growth. With the influx of people, there is also a growing need for housing. The city is expanding somewhat, but more importantly, it is evolving.

Renting is becoming increasingly popular as the cost of real estate continues to climb. According to the English Housing Survey 2019, nearly one in five households live in the private rented sector, making it the second largest tenure, just behind homes owned with a mortgage.

When it comes to finding an apartment to rent in London, there are a few things you need to consider. With so many options available, it can be difficult to know where to start.

In this guide, we'll go over what you need to consider when renting an apartment in London so that you can create the lifestyle you’ve always dreamed of.

Location

The first thing you need to consider when renting an apartment in London is the location. In a city such as London, it's crucial to consider where you want to be located. Are you looking for a place near public transportation, or do you want to be in the heart of the city to avoid a commute? Would you prefer a more suburban area, or are you looking for some nightlife?

Things might not seem too far on the map, but in reality, you could be underestimating the distance.

Budget

Budget is always important when it comes to renting in London. Central London will be more expensive than outer areas, but you may find that the convenience is worth the extra cost.

If you find an apartment near Zone 1, that means it will be close to many of the main attractions and tube stations. Zone 2 is slightly further out but still considered central. Once you get to Zones 3-6, you're in the outskirts and more residential.

While it might seem like the best option to live where you work, if you have a family, you might want to consider living further away from the city centre in order to get more value for your money. Not only in the sense of affording that dream 3 bedroom house for rent in London, but also for more parks, walks, and family-friendly activities.

Management

When you're looking for an apartment to rent in London, you need to consider who will be managing the property. Some landlords manage their own properties, while others have dedicated management companies.

If the landlord manages their own property, they might be more lenient if you want to make changes to the property. On the other hand, if something does go wrong, it might take longer to get it fixed.

With a rental management company, you'll likely have someone you can contact 24/7 in case of an emergency. They will also handle all of the repairs and maintenance for you.

Modern Renting in London

Housing in London is getting more expensive, and that's why the Private Rented Sector (PRS) is pivoting towards more modern Build to Rent (BTR) schemes where housing is designed with the renter in mind. These developments stand out for their high-quality amenities, community-focused design and long-term returns.

The biggest difference between traditional renting and Build to Rent (BTR) is that in a BTR scheme, you're not just renting an apartment from a landlord; you're actually renting from a company that specialises in providing, managing and operating housing.

Apart from managing your apartment’s repairs and maintenance, they also offer additional services and benefits such as: flexible leases, no hidden fees, cleaning and laundry services, and the ability to move into a furnished apartment.

If you're looking for a hassle-free renting experience, then a Build to Rent (BTR) furnished apartment might be the best option for you.

At Redwood Co-Living, we offer a wide variety of rental options, from Build to Rent (BTR) furnished apartments to co-living spaces.

Understanding the London housing market

The London housing market is constantly changing, with new build developments popping up all over the city. It can be difficult to keep track of everything that's going on, but understanding the demand for housing will help you make the best decision for your needs.

There are three main types of housing in London: private rented sector (PRS), social housing and owner-occupied.

PRS is made up of both traditional renting and Build to Rent (BTR) schemes. Social housing is provided by the government and is typically for low-income households. Buying your own house means your property is owner-occupied.

The demand for each type of housing varies depending on the area. For example, in Central London, there is more demand for PRS and owner-occupied properties, while in the outskirts of London, there are more properties for sale.

While Social Housing is difficult to get access to and often mismanaged, Private Rented Sector/Build to Rent (PRS/BTR) housing is a good alternative with relatively the same affordability.

What Is Build To Rent?

Build To Rent (BTR) is a type of housing in the private rental sector in the UK that is purpose-built and managed by a single company or organisation. Build to Rent (BTR) developments usually offer a range of amenities and services to tenants, such as on-site staff, communal areas, and flexible tenancy terms.

The government has identified Build to Rent (BTR) as a key part of its strategy to increase the supply of affordable housing in the UK. There are now several Build to Rent (BTR) developments completed throughout the UK, with many more planned.

Build to Rent (BTR) is in many ways the new preferred modern way of renting, because of its great overall quality of housing, maintenance, affordability, services/amenities (such as gyms, pools, cinemas, yoga studios, bars/restaurants, etc.), events, lifestyle, community, and security.

What's included in the rent?

When you're looking at apartments for rent in London, it's important to know what's included in the rent.

Utilities are typically not included in the rent when you deal with a private landlord, so you'll need to factor those costs into your budget. In some cases, council tax might also not be included.

Furnished or unfurnished?

Another thing to consider when renting an apartment in London is whether you want a furnished or unfurnished property.

Furnished apartments come with all the basic furniture that you need, such as beds, living room furniture and kitchen utensils. This can be a great option if you're moving to London from another country or if you don't have any furniture of your own.

Unfurnished apartments come without any furniture. This gives you the freedom to furnish the apartment however you want, but it also means that you'll need to buy all the furniture yourself.

Are pets allowed?

In a Build to Rent (BTR) managed building pets are often allowed, as opposed to private rentals from landlords. If you have a pet, it's important to find pet friendly rent in London.

Where pets are allowed, there might be some restrictions in place, such as the type of pet or the size of the pet.

Ready to find your dream apartment or house?

Renting an apartment in central London can be a great way to experience all that this amazing city has to offer. With a shortage of housing, it's important to consider your options when making your decision. New developments in the property market promise to create better housing options for everyone.

Renting an Apartment in London | What to Consider