Tips for First-Time Renters in London
1. Set a Realistic Budget
When renting a property, it’s important to set a realistic budget to avoid financial strain and improve your chances of passing reference checks. A good rule of thumb is to ensure your income is at least twice the monthly rent, as many landlords and letting agents use this ratio to assess affordability. Alternatively, you may need a guarantor with an income of at least three times the rent, or in some cases, be prepared to provide 12 months’ rent upfront if you don’t meet the standard criteria. Planning ahead with these requirements in mind will help you secure the right property within your means.
2. Consider the Location
When renting a property, location is just as important as affordability. At Icona, we specialise in homes close to public transport and in unique London locations that suit both commuters and families. When choosing an area, it’s worth considering not just your commute time, but also access to schools, shops, parks, and local amenities. London’s neighbourhoods can vary widely in pace and character, so thinking about whether you prefer a quieter residential area or a lively urban setting will help you find a property that truly enhances your lifestyle
3. Determine If You Want a Furnished or Unfurnished Rental Property
When renting a property, it’s also important to decide whether a furnished or unfurnished home best suits your needs. A furnished property offers convenience, but you’ll need to take care of the furniture provided and ensure it remains in good condition throughout your tenancy. An unfurnished property, on the other hand, gives you the flexibility to bring your own style and belongings. At Icona, we offer every property either furnished or unfurnished, tailored to tenant requirements, so you can choose the option that best fits your lifestyle and circumstances.
4. Read Your Tenancy Agreement
Before moving into your new home, it’s essential to carefully read through your tenancy agreement. At Icona, we make this process simple by sending your tenancy documents via DocuSign, so you can review and sign them digitally from the comfort of your own home. We always recommend taking your time to read each section thoroughly, as the agreement outlines your rights and responsibilities as a tenant. And if there’s ever a clause you’re unsure about, our team is just one phone call away to explain it clearly and guide you through every detail.