As a landlord, you’ll understand the importance of finding reliable tenants that pay the rent on time. One way to secure this is through comprehensive tenant reference checks. But what happens if a potential tenant fails their credit check?
Renting to tenants with bad credit doesn’t necessarily spell disaster. If the tenant ticks all the right boxes, there are ways to get around this issue and protect yourself and your investment.
What Is A Tenant Reference Check?
A tenant reference check helps landlords and letting agents decide if a tenant is likely to be reliable and pay each month’s rent on time.
In addition to a credit check, tenant referencing can look for;
- Proof of identity
- Proof of employment
- Current salary
- Bank statements
- Proof of benefit claims
- Right to rent in the UK
- A previous landlord reference
What Is A Credit Check?
A credit check looks at the tenant’s credit report and financial history, spotting any times they have missed bill payments or have fallen into arrears. This is analysed to produce an individual credit score.
A credit score can range from around 0- 900 points, depending on the score system used. A good credit score could be anything above 750 points.
What’s The Minimum Credit Score A Landlord Should Accept For A Tenant?
An acceptable credit score will be dependent on the scoring system used, as they differ between referencing agencies. However, when a tenant’s credit score comes back as poor or very poor, you may want to think about asking some further questions.
What Causes A Bad Credit Scoring?
A poor credit score can be caused by a number of issues, some more concerning than others when it comes to potential tenants.
Here are a few of the more serious reasons for a poor credit rating;
Unpaid Debts
Naturally, being in debt can negatively affect a tenant’s credit score as it suggests that they struggle to manage their money and are not financially stable. If this issue is uncovered by a credit check, you may think twice about entering into a tenancy agreement.
Being Declared Bankrupt
This should set major alarm bells ringing for landlords as it suggests the tenant has had difficulty managing repayments in the past.
County Court Judgements
A County Court Judgment (CCJ) is when a tenant is forced to repay a debt by the courts. If this shows up, it’s not a great first impression.
Late Credit Card Or Loan Repayments
If a tenant has struggled to pay credit card repayments in time, this doesn’t bode well for rent payments.
There are also a number of issues that can affect credit scores that don’t necessarily mean a tenant will struggle with their finances;
Not Having A Credit History
One reason for a poor credit rating that is particularly common among younger tenants and students is not having a credit history at all. If the tenant has never taken out a credit card or loan and has never paid bills from their bank account, they won’t have a credit trail to check, resulting in a low score.
This is a likely occurrence if you rent to students or young adults who have just left home and doesn’t necessarily mean that the tenant will be bad at managing their money.
Only Making The Minimum Credit Card Repayments
Credit scores can be affected if the tenant only makes the minimum repayment on their credit card each month. The assumption is that they are struggling to keep up with all their outgoings, however this isn’t always the case.
Not Being On the Electoral Roll
Not updating addresses and personal information can affect credit score, as can not being on the electoral roll. This step is easily forgotten when moving house and doesn’t prove the tenant will be unreliable.
No Proof Of Address
If a tenant hasn’t been responsible for paying bills at their previous residence or were not named on the tenancy agreement, it can be difficult for the referencing agency to determine proof of address.
How Important Is Good Credit?
As we explored above, good credit isn’t the be all and end all when it comes to finding a good tenant. Equally as important is whether they fit your target tenant profile.
If you’ve been struggling to rent out your property or think the tenant will make a good fit, there are ways to get around bad credit.
How To Rent to Tenants With Bad Credit
Poor credit rating alone doesn’t mean you should give up on a tenant if they tick all the other boxes. Here are some ways to minimise risk;
Dig Deeper
The first thing to do when a potential tenant’s credit check comes back as poor, is to find out why. If it was down to late or missed payments it may be best to steer clear, however if it’s something as simple as a lack of credit history then it needn’t stop you from going ahead with the tenancy.
Ask To See Previous Rent Payments
Seeing proof of regular, timely rent payments for a previous rental arrangement will help to ease your concerns about their responsibility as a tenant.
Charge a Larger Deposit
If a tenant has a low credit score, it’s likely they will be prepared to pay a slightly larger security deposit to make up for it. This will give you extra leverage when it comes to recovering costs at the end of the tenancy.
Ask For A Guarantor
One of the best ways to protect yourself if a tenant has poor credit is to ask for a guarantor. A guarantor will be able to cover any costs if the tenant is unable to pay, giving you extra protection.
The guarantor will need to sign the tenancy agreement along with the tenant and have secure financial status.
Ask For A Previous Landlord Reference
One sure way to find out if a tenant is reliable is to ask their previous landlord.
Here are some questions to ask;
- Did the tenant pay rent on time each month?
- Did the tenant look after the rental property?
- How often did the tenant raise issues with the landlord or letting agent?
- Were any complaints received from neighbours regarding the tenant?
- What condition did they leave the property at the end of the tenancy?
- Would you feel happy renting to the tenant again?
Ask For Rent Upfront
While this may be a lot to ask and not always in scope, a tenant with a high risk credit score may be prepared to pay rent upfront. Paying the first six months of rent upfront will ease any initial worries and give the tenant time to prove their reliability.
Receive Payments By Direct Debit
Asking for rent payments via direct debit is common practice these days and is especially important if you’re concerned about a tenant’s financial responsibility.
Shorten The Tenancy
If you’re worried about the reliability of a tenant, setting a shorter, probationary rental period in which the tenant has time to prove their responsibility could be a good idea. If you experience late payments or other issues, you can terminate the tenancy early.
Talk To The Tenant
You can tell a lot from a frank, face-to-face conversation. If your potential tenant willingly discloses their credit issues and can provide a reasonable explanation for the low score, you will be much better placed to make an informed decision.
How To Organise A Tenant Reference Check
Although credit checks aren’t the only way to choose the right tenant, it is important to perform tenant referencing so you aren’t caught out further down the line.
As a busy landlord, you may want to delegate this task to a professional tenant referencing company. Placing this responsibility in the experienced hands of a recommended referencing company will minimise any risks and help the process go smoothly.
Protect Your Property With No Letting Go
In addition to choosing a reliable tenant, a comprehensive inventory is one of the best ways to protect your rental property.
At No Letting Go, we offer unbiased property inventory reports to help safeguard your property against damage and recover essential costs at the end of a tenancy. All the way through from Schedule of Condition, to check in and property visits, our property clerks are there to simplify the rental process and save you time.
Interested in hearing more? Head to our website to discover the full range of property management services we offer.
Making the choice to buy a property is probably the biggest financial decision you’ll ever make. Definitely not one to be taken lightly.
You’ve probably been told that buying a property is the way forward in terms of financial stability and you may feel under pressure to buy your own home to make that first step onto the property ladder. But is it really the best option for everyone?
We believe there are pros and cons to buying a house and that renting a property can be a smarter option for some.
That’s why we’ve put together this guide, so you can decide, once and for all; is it better to rent or buy?
The Benefits of Renting
Despite what older generations might tell you, there are many advantages to renting in today’s world.
Consider these before you dismiss renting as an option:
It Pays to Rent
The costs of buying a house can seem never ending. Hidden extra charges like paying for surveys, stamp duty and removal costs are enough to induce a panic attack. For rental properties, the upfront costs are pretty standard; a secure deposit, a month’s rent and any Letting Agency fees are all you’ll need to pay.
Once you’re in, the costs don’t stop when you own your own home. Recurring expenses like homeowners insurance and property taxes are just the start. Maintenance and repairs can really add up too. A dodgy boiler giving up in the middle of the night mid-November or a leaky pipe creating a downpour in your bedroom is all down to you to fix. If you’ve ever had to track down a tradesperson out of hours you’ll understand the pain.
With renting, these responsibilities lie in the hands of your landlord. Landlords have a legal responsibility to provide a safe, liveable home that is well maintained. This means the landlord foots the bill for any essential repairs.
Skip the Hefty Deposit
For first-time buyers, it’s becoming increasingly difficult to buy.
Soaring house prices have resulted in eye watering deposits that seem unattainable for lots of us. Finding somewhere to buy within a reasonable commute to work is almost out of the question, with people being forced to live in less desirable areas.
Although rent prices increase in sought-after locations, it’s far less drastic.
Flexible Housing for Flexible Living
In today’s world of employment, people switch jobs every few years and no one is quite sure what’s around the corner. If work decides to transfer you to the opposite end of the country or, worst case scenario, you lose your job, you could be left with mounting mortgage repayments. Selling is stressful, costly and always takes longer than you expect.
The pros of renting a house mean it’s easier to move quickly. Usually, tenancy agreements have a break cause and you could move somewhere new within a month with minimal fuss.
Scared of Commitment?
If you’re a commitment-phobe in your relationships, you might not want to be tied down by a property. Renting a home is the more flexible option, allowing you to jump ship if things get boring.
Renting could also be the intelligent choice if you’re moving in with a new partner. There’s nothing like a few months of living together to test a relationship. Discovering your partner’s unsavoury living habits could swiftly make you think twice about your happily-ever-after home. Toenail clippings behind the sofa or late night video game sessions could be the final straw.
The advantages of renting a house mean you can test each other out short-term, without the added pressure of mortgage repayments.
Stay Safe and Secure
As we mentioned earlier, landlords have obligations to fulfil when it comes to property maintenance. These responsibilities stretch further than fixing the odd appliance.
Safety standards have to be adhered to, such as gas, electrical and fire safety checks. These regulations are all designed to protect tenants.
Avoid Rising Interest Rates
Rising interest rates mean your mortgage repayments go up. If the budget is already tight, this could have grave consequences on your finances and living situation.
Equally, property values are famously volatile, and if the value of your property goes down it will be more difficult to sell later down the line.
Renting sidesteps these stresses.
The Cons of Renting a House
As with everything, there are some negative aspects to renting. It really depends on the stage of your life you’re at and what will benefit you now as well as in the long run.
Think about these issues before making your final decision:
Sacrifice the Freedom to Decorate
One downside with renting is that you’re more restricted when it comes to redecorating and making structural changes to your home. Alterations need to be ok’d by the landlord before they go ahead, sometimes even down to hanging a picture frame!
This isn’t a problem if DIY isn’t really your thing, and most landlords are reasonable when it comes to home improvements. You are enhancing their property after all.
If you have a pet you’ll need to make this clear at the beginning as living with pets isn’t allowed in all rental properties. It is possible to rent with pets, just make it a priority for your search.
Be at the Mercy of Your Landlord
One thing that can put people off renting is the idea of being at the mercy of their landlord. If they choose, landlords can raise the rent and even decide to kick you out.
Although this is a possibility, it’s a rare one. Landlords have to compete with the rest of the property market and if they charge extortionate prices they risk not filling properties. You also have a tenancy contract which will stipulate how much notice a landlord can give you if they decide to make changes.
Save Money in the Long Run?
Many people claim there is a long-term, financial benefit to buying. Once you’ve finally paid off your mortgage, they say, you will be able to live rent free.
But, how long will that take?
Mortgages that take up to 35 years to repay are not uncommon. That’s a long time to commit to.
In the short-term at least, it’s cheaper to rent. Rent is usually less than the monthly mortgage repayments and the original deposit is just a fraction of the cost of buying a house.
The Final Say
To sum up, it really depends on your specific situation as to whether it’s best to buy or rent.
Some things to think about before you buy are;
- Before making an offer on a house – can you afford the mortgage?
- Can you afford the monthly repayments (taking possible rises into consideration)?
- Are you planning to stay in the property for a significant length of time?
If it’s flexibility, minimal upfront costs and the security of knowing your landlord is there to cover maintenance you’re after, renting is the best option.
On team rent? If you let out your home, make the process as smooth as possible by taking advantage of No Letting Go’s inventory services. This way, you won’t get caught out with unexpected charges as all the information about the property’s condition is independently evaluated and stored securely. Whether you’re a landlord or letting agent, find out how we can help with our professional, unbiased property reports.
A landlord’s main responsibility is the tenant. But, do landlords have a duty of care to neighbours?
In short: yes and no.
It’s difficult to hold landlords legally responsible for their tenants. Unless, that is, the landlord is deliberately encouraging antisocial behaviour.
However, even without law involvement – neighbourhood disputes are never good for a landlord’s reputation.
Let’s settle this once and for all! Time to dig a little deeper…
Types of Problems Tenants Can Cause
So, in the eyes of a neighbour, what constitutes a problem tenant?
Volume Control
For many, when they hear the phrase ‘difficult tenant’, noise is often what first springs to mind. This is for good reason!
Noisy tenants are a huge nuisance. Particularly if these disruptions continue late into the night, it can cause problems for all neighbours living nearby.
What is classed as noise nuisance? Let’s dig a little deeper:
- Late night DIY
- Parties/ large gatherings with loud music
- Uncontrolled pets
- Children allowed to play in the communal areas of flats
Noise, caused by any of these reasons, can be a serious grounds for a dispute.
With noise nuisance – time of day is essential. Most neighbours will forgive being loud before it gets dark, within reason, of course!
Inconsiderate Behaviour
‘Inconsiderate behaviour’ is a broad term, as it encompasses many different things.
But, here are some of the worst offenders:
- Parking across other drives
- Refusal to empty bins
- Leaving on bright lights that disturb others
- Invasion of privacy
- Abusive behaviour
If a tenant is displaying one or more of these habits, neighbours might have a lot to say. Is it fair for landlords to be held responsible?
A Landlord’s Duty of Care
Landlords have a number of responsibilities, most of these concerning the tenant. Similarly, a letting agent’s duty of care is to the tenant.
However, landlords will often find themselves in the firing line should the neighbours complain.
Landlord negligence cases don’t often relate to neighbours, simply because it’s difficult to proceed against landlords for the actions of their tenants. You can’t blame one human being for the actions of another!
However, is this always the case?
When is a Landlord Liable for Tenant Negligence?
In some cases, private landlords are liable for tenant negligence.
Often, this occurs when the landlord encourages the nuisance, or deliberately turns a blind eye.
Also, if the landlord deliberately let the property out with knowledge of a nuisance, this makes them liable. For example, leasing the property for use as a music venue.
Particularly if these problems are frequent, those living nearby may hold the landlord responsible.
Landlords do have a duty of care to neighbours to some extent!
You may also like: A Guide to the Best Tenant Referencing Companies
How to Deal With Noise Complaints
Of course, noise complaints aren’t the only reason for disputes. However, they are the most common.
If you have knowledge of a recurring antisocial tenant behaviour, you must be shown to do something about it. Reduce your risk of being liable by being seen to change your property management practices. Ensure you haven’t authorised actions that might constitute a complaint!
Difficulties with neighbours can harm your reputation, dissolve relationships and cause you a lot of hassle. If possible, avoid this at all costs!
The only problem is, how is this done?
Ensure Neighbours Have Your Contact Details
Many neighbours wonder how to get a landlord’s contact details. You must ensure they have yours!
There are many things that go into being a good landlord – availability is one of them. Do yourself a favour and find out who your neighbours are!
Put yourself in the position of those living near your tenants. Wouldn’t you wonder how to find a landlord’s details?
Talk to Your Tenant
The first step is always to talk to your tenant open and honestly. Try not to automatically look to them as the cause of the anti-social behaviour in private housing.
Go about things differently! Being receptive and able to talk about problems with your tenant is hugely important.
Don’t pick a fight deliberately, instead, ask their opinion on what the neighbours have been saying. Explain the problem, and ask how they’re going to rectify it. Offer some suggestions of your own.
It’s important to build a good relationship with your tenants, so ensure you listen to their side of the story!
Use the Tenancy Agreement
If problems persist, use your secret weapon.
The tenancy agreement should have set out a ‘nuisance’ or ‘noise’ clause. Refer to this if you discover your tenant is behaving problematically!
The agreement will have clearly laid out rules and regulations, which must be adhered to. Explain exactly which ones they’ve broken and why.
Of course, don’t threaten with eviction immediately. However, do explain that while you’re upholding your duties, their responsibility is to follow the tenancy agreement.
If they refuse to listen to your warnings, consider taking further action. But, this should never be your first step!
Inspect the Property Regularly
You can’t deal with the problem if you can’t see it!
There are rules surrounding landlord inspections, of course. However, particularly if you’ve been made aware of certain problems, it’s essential to visit your property regularly.
The likelihood is that tenants will be on their best behaviour around you. But, it’s a good opportunity to show your neighbours you’re taking steps to resolve the issue. Plus, it may ‘scare’ your tenants into changing their behaviour.
Involve the Neighbour
Don’t let your tenant’s actions reflect badly on you!
If possible, arrange a meeting between them and the neighbour. This can give them a chance to talk and, hopefully, clear the air.
Your tenant might not fully understand the impact their actions are having on their neighbour.
Take Serious Action
If nothing else works, take further action as a last resort.
This can come in many forms, such as:
- Contacting your local council
- Seeking legal advice
- Serving them with a section 21 notice (this allows landlords in England and Wales to evict tenants)
- Calling the police
The final option should only be used in extreme circumstances, such as abusive or aggressive behaviour.
Problem Neighbours in a Rented Property – Is it Your Tenant’s Fault?
Let’s put the shoe on the other foot.
What if your tenants aren’t the problem?
When it comes to neighbourhood disputes, landlords are between a rock and a hard place. As much as it’s important to keep up good relationships with the neighbours, you don’t want to alienate your tenant.
Particularly if you’re trying to encourage a long-term tenancy, you may feel as though you have to be on your tenant’s ‘side’.
However, sometimes it’s the neighbours that are the nuisance. Let’s have a look at why:
Can Neighbours Complain About Noise During the Day?
Some complaints, such as noise disputes, are simply unfair. It might be that your neighbour is being particularly pedantic.
For example, if your tenant has guests round during the day for a barbeque, this is not grounds for a noise complaint, unless it goes on until the early hours.
Be realistic. Your tenant is likely to have guests round sometimes! But, ensure this doesn’t contravine the tenancy agreement.
Is the Neighbour Lying?
If the complaints seem vague, or the neighbour ‘can’t remember’ the time of the day your tenant was loud, this should send alarm bells ringing.
Consider your tenant also. Do they seem like the kind of person they’re being painted out to be? Do they fulfill all their other tenant obligations?
Trust your instincts. The relationship between landlord and tenant is important!
It might be that your neighbour has problems with your property being let out, for example, to students.
Is the Neighbour Being Disruptive?
Perhaps it’s your neighbour who’s the nuisance. Landlord negligence has many forms, so don’t ignore your tenant is they come to you with a complaint about a neighbour.
Think of private tenant’s rights and noise disturbance. Do they deserve to live near rowdy neighbours?
Here’s what to do:
- Ask your tenant to keep a record of the problems
- Talk to the neighbour
- Use a mitigation service
- Contact your local authority
- Take legal action
Follow these steps in that order, keeping communication with your tenant at all times. Never jump to legal action first!
We understand that being a landlord and managing your property can be tough. But, we’re here to help. We provide professional property inventory services, so you can avoid the pains and hassle of doing it yourself. Find out more about our services here.
Startling figures released by the Home Office have shed light on the true scale of measures taken against non-compliance to the government’s Right to Rent scheme. Since 2016, over 400 fines have been handed out, at a total value of £265,000. It’s clear that Right to Rent checks have never been more important for landlords and letting agents.
What is the Right to Rent Scheme?
Introduced in February 2016, the Right to Rent scheme requires landlords and letting agents to ensure the occupier of their property has the right to remain (and rent) in the UK.
This is an all-encompassing legal requirement which also applies to private landlords or those letting to lodgers. If the tenant is found to be illegally living in the UK, those letting the property are liable for a fine of up to £3,000 per tenant.
405 Fines in 2 Years
The Home Office have issued 405 fines for non-compliance of the Right to Rent scheme since 2016. Of these fines, the average (£654 per tenant) is significantly lower than the maximum fine amount, though altogether a total of £265,000 has been paid by non-compliant landlords and letting agents.
Since the scheme’s inception, the busiest periods for fines issued falls between April and September 2017 where a total of 151 fines were issued.
A Controversial Scheme
Many are unhappy about the Right to Rent scheme. Chris Norris from the National Landlord Association explains: “It’s important to remember that landlords are neither immigration experts nor border agents… The Right to Rent scheme has placed an additional cost on an already pressurised sector”.
The Guardian documents that 11,300 checks are made each day in England, “but the proven benefits are limited – and the damage is very real”.
The same article partly attributes homelessness among refugees in the UK to the need to wait many weeks for documents to prove the right to a tenancy.
While the additional costs to landlords is another great talking point in the industry. It’s believed that the added work required by landlords to fulfil these checks totals an eye watering £4.7million per year.
We Have the Answer
As part of No Letting Go’s Check In procedures, we can verify the documentation required for the Right to Rent scheme. We can also warrant that these match the tenant’s appearance.
Lisa Williamson, Business Development Director for No Letting Go adds, “we have worked successfully with both letting agents and landlords across the UK since February 2016 to ensure that Right to Rent documentation complies with this legislation. Our bespoke reports clearly confirm that the tenant’s original identification documents appear to be genuine and are a true likeness. With the tenant’s permission we also photograph them holding their photographic ID as further evidence that they are a true representation. This service has proved invaluable to agents and landlords who have not had the opportunity to personally meet the tenant/s prior to their occupation of the property.”
There is no need to let the Right to Rent scheme become a stressor in your letting process. Avoid the fines and the hassle by using No Letting Go. Explore our full list of services here.
They’re the stuff of nightmares, sleepless nights, endless worrying and a bucket load of stress. No landlord wants to be caught up in a rental void period. Unfortunately, they’re pretty common and easy to fall into. This can be really damaging to landlords with a smaller portfolio. Thankfully, there are a few simple tips you can implement to avoid them altogether. Here are our 8 tips for preventing void periods. If you know of any more that could help other landlords, get in touch on Twitter.
1. Properly Maintain Your Property
So, let’s get this one out the way early. There could be an underlying reason why no one wants to rent your property. Ensure everything’s tidy, clean and in a liveable condition. Bathrooms and kitchens are key selling points of your property – do they need any work? Would a quick renovation boost your chances of attracting new tenants? The appearance of your property matters.
2. Advertise Everywhere (and Early)
It’s surprising to some but landlords do require marketing skills. Especially if you’re privately renting, you need to be able to market your property. Advertise your property everywhere you can, from local newspapers to online sites. If you want to stay away from void periods as much as possible, it’s important to advertise your property as early as you can. Don’t wait till the house/flat has been vacated.
3. Charge Reasonable Rent
Don’t inflate the rent you’re charging for the sake of it. Do your research and find out the average rent for the area. Then question how your property compares to the area’s average. Above all, charge a fair rent. You may be tempted to undercut the area’s average rent to ensure your property is seen as more attractive. Be warned, this could change the type of tenant you let to. Consider a deal including amenities if you want to make your listing more appealing.
4. Pick Good Tenants
This is a tricky one but will save you a lot of hassle in the long run. If you can let to good tenants you’ll reduce the risk of sudden changes in circumstance. Unfortunately even the best tenants can have unpredictable lives and there’s no simple way to get around this. Also, it’s very tricky to tell which tenants are genuinely ‘good’. Screening checks don’t tell the full story. The best tenants are steady and secure in their careers and lives.
5. Be Open Minded
It’s always important to have an open mind with potential tenants. Whether they’re looking to redecorate parts of the property or live with a pet, you may not like it but it’s worth considering. A tenant with a pet is likely to be more stable. Whereas a tenant who wants to redecorate will likely see themselves in the property for an extended period of time.
6. Why Not Try a HMO?
If you rent in an area popular with students or young professionals, it may be worth considering turning your let into a house in multiple occupation. You’ll need to adhere to specific licence rules about health and safety but it’s nothing a reasonable landlord couldn’t keep up with. This way, when one tenant moves out, you’re still making money from the other occupants.
7. Upgrade Your Furniture
Back to what we said earlier about how appearance is everything. If you’re offering a furnished property, it may be worth making a few extra purchases. Upgrading furniture will give your property a new lease of life. It could be the difference between attracting new tenants or not.
8. Be Approachable and Professional
Whether you like it or not, as a landlord you could be the reason between a tenant taking your property or not. If you turn up to a house viewing late, wearing sandals and shorts you’ll look unprofessional. Dress well, be prompt, appear approachable and ensure the tenant knows you’re professional.
When you start renting, don’t neglect the importance of a full and accurate inventory. Remove the possibility of disputes with No Letting Go’s inventory services.
Last month we brought you an article about the 10 cheapest places to rent in the UK. In case you want to flash the cash and live in one of the country’s more pricey regions, we’ve brought you a list of the 10 most expensive places to rent in the UK. This list is done slightly different to the last. Firstly, we’ve considered London as a collective whole. If we didn’t do this, the majority of our list would be full of London boroughs. This research comes from numerous sources including Rightmove, Love Money and the BBC.
10. Bushey, Hertfordshire
The small Hertfordshire town of Bushey may be tranquil but it’s also pretty pricey too. The average asking price of a two bedroom property in this peaceful part of the country comes at a stomach churning £1,330 per month. The town’s close proximity to numerous film studios (Elstree and Borehamwood) has led it to be the backdrop for many film and TV scenes.
9. Windsor, Berkshire
Quaint, historic, royal and of course bloated with tourists, Windsor was guaranteed to feature on the list. Boasting the largest and oldest inhabited castle in the world, Windsor also offers beautiful Thames-side walks, picnic spots and shopping. Oh we’re not done yet. Windsor is also the home of Legoland and the Royal Windsor Racecourse. All this makes for a vibrant town but also one which doesn’t come cheap. A two-bedroom property will come to an average of £1,351 per month.
8. Egham, Surrey
Sitting in the North East of Surrey, Egham is famously the site where the Magna Carta was sealed in 1215. Considered a university town, Egham is home to the campus of Royal Holloway, University of London. For the steep average price of £1,353 you can get a two bedroom property in this historic town.
7. Henley-on-Thames, Oxfordshire
Recently voted by The Times as one of the best places to live in the English Countryside, Henley-on-Thames is renowned for its spectacular beauty and serene riverside location. Not only is it a place of beauty, it’s vibrant too. The Henley Royal Regatta is the world’s greatest rowing spectacle and has been cemented as such over its 175 year history. The average price of a two bedroom property here is £1,385 per month making it seventh on our list.
6. Ascot, Berkshire
For an average of £1,412 per month, you can rent a two bedroom property in Ascot, a deeply affluent town in East Berkshire. Only a stone’s throw from Windsor, the town is most commonly known as the location of Ascot Racecourse.
5. Marlow, Buckinghamshire
Marlow is a small but deeply alluring town alongside the River Thames. Surrounded by meadows and woodland, it’s home to historic streets of Georgian architecture. With plenty of chain and independent places to eat and drink, you won’t go without. It’s also one of the most expensive locations to rent in the UK, a two bedroom property will set you back £1,424 per month.
4. Weybridge, Surrey
A two bedroom property will cost an average of £1,446 per month in Weybridge and it’s no surprise. The Georgian town is stooped in history and is certainly pleasing to look at. There’s a strong community feel to the area which is seen as a large draw to outsiders.
3. Oxford, Oxfordshire
Dubbed as the ‘City of Dreaming Spires’, Oxford boasts 1,500 listed buildings from all major periods from the 11th Century onwards. Renowned for its attractive streets, it’s most famous attraction is the world renowned University of Oxford. Easily accessed by train from London and Birmingham, the city offers excellent transport routes. A two bedroom property is likely to cost around £1,612 per month.
2. Esher, Surrey
Sitting 14 miles South-West of London, Esher is a commuter town that’s blown up in popularity. With excellent comprehensive schools, royal residences and private estates, Esher is the perfect upper class hideaway. The demand for properties is said to be so high that homes are often sold before being advertised. If you can find one available, a two bedroom property will set you back £1,913 per month.
1. London
Of course London comes first on this list. Could it really be anywhere else? The problem with discussing London in this list is that its boroughs differ so greatly. Now we’ve been talking about two bedroom properties for every other place on this list. In some areas of London, the average one bedroom flat greatly exceeds these figures. In Kensington and Chelsea a one bed will set you back around £2,134 a month which can be compared to the cheapest borough in London where the same size property would be around £1,341pcm. Eye-watering prices which aren’t necessarily in keeping with the extra income a London job offers.
So there you have it, the ten most expensive places to rent in the UK. If you’re looking to rent or let, remove the stress of inventories and deposit disputes. Take a look at No Letting Go’s inventory services to find out exactly how we can help ease the process.