So you want to live centrally, be close to bars and restaurants, and have the opportunity to make new friends. At the same time, you don’t want to spend more than £500 a month on rent. Sounds impossible? Well, not quite – but it does require some creative thinking. We all know that getting a studio flat in central London is nigh on impossible at that price point without having to share with other people or sacrifice essential amenities such as a bathroom or your own kitchen. However, there are ways of reducing the cost of renting a flat by sacrificing size and amenities. Here are five tips for securing a great studio flat in London at an affordable price.
This is absolutely essential. Start by looking into the rent prices in the areas you want to live in using websites like Spareroom. Then, dig a little deeper by researching the average income and number of people who live in the area you want to live in. This will enable you to see how many people can afford the rent prices in the area you want to live in, and how many people are available to share with. Being able to provide a prospective landlord with this information shows that you’ve done your research and are serious about finding a place you can afford.
If you’re not able to find any studios or one-bedroom flats that are within your budget and are big enough to live in, consider finding a room instead. It’s likely that there will be plenty of rooms available, and you can negotiate on rent by having a smaller room. If you’re able to find a room in a shared flat that has a kitchen, it can be almost as cheap as living alone. If you’re lucky enough to find a room with a view, it’s important that you negotiate on rent by having a smaller room. You can also negotiate with having a different room location where there’s less noise or less sunlight.
We know, it hurts. But in areas of central London that are extremely expensive, you’ll very rarely find studios or one-bedroom flats with windows. You can get creative with this by arranging for plants to be placed on the windowsill or having a large framed piece of art or poster cover the window. It’s important that you research the areas you want to live in and know the average temperatures for each month so you can be prepared. If you have no control over the temperature in the room (e.g. if it’s a common room with no control over the temperature), try to keep the room temperature low enough to prevent the windows from fogging up.
Before you start talking to landlords, it’s important to know what you want and what you’re willing to compromise on. This is where your research on average temperatures in your desired area comes in handy, as you can negotiate on having a fan instead of central heating. If you’re in a common room (e.g. a kitchen or lounge), you can also negotiate on having fewer amenities, such as having no TV or having the lounge area be smaller. You can also look for landlords who are willing to accept a shorter lease term, as shorter lease terms tend to be cheaper.
If you’re struggling to find the perfect studio flat within your price range, be flexible on moving in date and time. If a landlord has their heart set on renting out their property by a specific time, consider offering to pay extra to be able to move in early. Similarly, if a landlord is desperate to fill their rental property as soon as possible, offer to pay a little extra to move in a little later.
Finding a studio flat to rent in London is challenging, but it’s not impossible. By doing thorough research on the area you want to live in, having a smaller room, and being flexible on moving in date and time, you can find the perfect studio flat at an affordable price. Remember, renting a studio flat in London is like renting a car – you get what you pay for.
