Beating the Competition in the thriving North East London Property Market

News at Stirling Ackroyd | 07/07/2017

As North East London thrives, so does its property market, with the average rental value currently standing at £1,427, 58.4% higher than the rest of the UK. Competition is understandably fierce between tenants, and those ready to come to the market must be prepped and ready to beat other tenants vying for the same properties.

Competition BP

If you’re already renting elsewhere, make sure you are a conscientious tenant. Pay your rent in a timely fashion, keep the property tidy and notify your landlord immediately if any breakages occur. This way, when you come to the end of your tenancy, you’ll be sure to receive a positive reference - a prerequisite for any landlord. This also goes for work – your employers may need to provide you with a reference, so it’s important to be diligent and reliable.

Prepare your finances. You’ll need to provide proof of earnings, so make sure you stick to your budget, as you’ll be handing over a minimum of three months of bank statements when you apply for your new home. You will also need to provide identification details so, if possible, come prepared with a scan of your passport when you meet your agent.

Know what you want. If you have a budget of £1,500 a month, don’t view any properties over the asking price. Not only will you be wasting your time, agents and landlord won’t look kindly on those who begin the moving process only to be pull out further down the line. It also helps if you can be as informative and transparent as possible with your agent, as they can show you properties that truly fit the bill.

If you need to rent with others, find them before you start looking for properties. You can then agree on timeframes and price points before you contact your agent, so you’re ready to hit the ground running.

If you’re looking to rent, or are interested in learning more about North East London, get in touch.