Guide to renting a property
If you are considering renting a property through Paramount, we can ensure a simple journey to finding a new home. Here we share our top tips for renting a property; if you have any other questions or tips you would like to share with others, please contact us.
It is important to think about what you can afford to spend each month renting a property. Take into account other monthly costs including council tax, utility bills and travel costs, in order to determine how much you can afford to spend on rent each month.
Most letting agents calculate affordability from your annual salary. There are other ways to secure a property if you are a student or self-employed; Paramount are experienced letting agents and can help you understand the options available to you.
The lettings industry is unregulated which means anybody can set up a lettings business. All of Paramount’s agents are ARLA Propertymark members. ARLA Propertymark agents agree to have their accounts audited annually, have client money protection (CMP), meet the highest standards in the industry and make a commitment to customer service.
Choosing an area
If you are thinking about moving to a new area it is worth doing some research on and offline. Visit the area at different times of the day and walk around to explore the local amenities. View our area guides for information about schools, transport links and local businesses across North West London.
Finding a property
Before you start looking, establish your property requirements. Consider the number of bedrooms, outdoor space and parking that you will require. When viewing properties, take notes so you can compare with other properties that you have seen.
Have a walk around the area to check out the local amenities, consider a trial run using public transport if you commute to work and try to visit the property at different times of the day.
Securing a property
Once you have agreed to terms with the landlord, you will be required to provide a rental deposit for the property, equating to a minimum of six weeks' rent. The deposit will be registered with a protected Tenancy Deposit Scheme to safeguard your deposit.
Prepare for moving day by creating a checklist of jobs that need to be completed before and on the day, including:
- Book a removal firm
- Redirect post
- Inform key people and companies of your move date and new address
- Read the meters and inform utility companies
Paramount are committed to offering a fair and transparent service to our tenants. Standard fees payable by tenants are listed below and you'll find property specific fee information on property lists, window cards and website particulars. Paramount do not charge tenants to renew their tenancy or for landlord references.
Inventory and check-in
Inventories are conducted by an independent inventory clerk. Inventory costs vary according to the size of property:
- Studio - £78 including VAT
- 1 bed - £90 including VAT
- 2 bed - £102 including VAT
- 3 bed - £150 including VAT
- 4 bed - £192 including VAT
- 5 bed - £216 including VAT
Admin feesSubstitution of tenant
If a substitution of a tenant is required, then this will be at the landlords discretion. In order for this to happen you will need to meet the below criteria:
- All tenants must be in the property for a minimum of 6 months
- There must be at least 6 months remaining on the current contract
- Maximum of 2 substitutions per tenancy
- This will not be considered if there is a history of late payments / arrears
- 2 week minimum time frame from finding a tenant to completing the paperwork
There is a charge of £240 including VAT for each and every substitution to cover contract costs and administration. This is split the outgoing tenants responsibility.Renting Guide
PaymentParamount accept the following methods of payment
- BACS (not accepted for holding deposits)
- CHAPS (not accepted for holding deposits)