Bethnal Green homes are an attractive options for city professionals who do not feel like paying city rents. While the cost of rents are down by as much as 8% in the City, the average weekly rent is still very high for professionals who make the average income. Private landlords and letting agencies who are marketing Bethnal Green homes are marketing flats, terrace homes, and semi-detached home for between £345 per week and £1700 per week, depending on the size of the property, the amenities, and the area. What many tenants today are failing to do is see past the cost of rents per week and look at the hidden costs of letting a property in Bethnal Green. Knowing the hidden costs of rents is something that all prospective tenants need to consider before signing a tenancy agreement.
The Cost of Property in Specific Boroughs
The cost of rents is all about the cost of property in the borough where you are looking. Property owners must charge an adequate amount of rents to cover the home mortgage and still cover other expenses. Bethnal Green homes sell for an average £380,000, with most of the properties being 2-bedroom flats. While these values are lower than those in the City, they are higher than the values reported in neighbouring boroughs and districts.
The Cost of Transportation
Another cost that must be considered is the cost of transportation. Public transportation is a very practical and common way to get to and from work when you work in the City. All too often, tenants fail to research the cost of transportation on the tube and the British Rail system before they sign a lease. If tenants are not taking public transportation, they need to consider the cost of transportation in time.
The Cost of Furnishings
Most Bethnal Green homes that are listed for let on the market are not furnished. While tenants may be able to find properties advertised as furnished, individuals who want more options when searching for a property are going to need to consider the cost of furnishing the flat or home. For tenants who do find furnished flats, it is very important to review costs associated with damaged or staining pieces in the rental.
The Council Tax
Just because you are renting does not mean you are exempt from paying a council tax. All residents are charged borough council or by the local government, even when they do not own the property the Bethnal Green homes they are letting. The individual who signs the lease will receive the Council Tax invoice and must pay this tax monthly.
The Cost of Utilities
The cost of heating, electric, water, telephone, and TV services range in each borough. While the costs vary, you should expect the pay £220 for all of these expenses.
As you can see, it is very important for renters to consider more than just the cost of rents before signing a tenancy agreement. By budgeting for the hidden costs of letting, tenants can choose a property that is within budget.