Experts reckon that 40% of Londoners will be renting by 2020, mostly as a result of the impossibly high cost of property in the capital. But with average rents currently around \u00a31300 per month and a lack of affordable properties, it is becoming increasingly difficult for lower paid workers to find somewhere to live.<\/p>\n
A Raw Deal<\/strong> Flexible Living in the City<\/strong> Landlords can rent a room and enjoy up to \u00a34,250 tax free under the government\u2019s Rent a Room scheme. But remember, earnings over this amount must be declared under the Self Assessment scheme or you could end up falling foul of HMRC.<\/p>\n","protected":false},"excerpt":{"rendered":" Experts reckon that 40% of Londoners will be renting by 2020, mostly as a result of the impossibly high cost of property in the capital. But with average rents currently around \u00a31300 per month and a lack of affordable properties, … Continue reading
\nLondoners may pay more than anyone else, but they often get a raw deal. Rogue landlords<\/a> are happy to part them from their cash in return for providing overcrowded rental properties that are not fit for human habitation. The London Rental Standard, otherwise known as a \u2018Boris Badge\u2019, aims to improve things, but in the meantime many tenants are turning to live-in rentals instead.<\/p>\n
\nRenting a flat<\/a> or room in a shared house usually involves handing over a shared deposit and a significant sum of money in rent every month. Tenants may also be tied into a one-year tenancy agreement and required to give one month\u2019s notice if they want to leave. Live-in tenancies are far more flexible and a lot cheaper. Tenants have their own room and use of shared facilities. It won\u2019t suit everyone, but if you find the right live-in landlady or landlord, it is a more affordable solution.<\/p>\n