We have all at some point of our lives rented a place even if it has been for a few days only. It is clear that there are various types of rooms, apartments and houses for rent and that therefore the prices are different. The UK is an excellent example for a country where you might end up paying an enormous rent for basically nothing. We will talk about the reasons why some places are very expensive and why some can be pretty affordable. We will not cover any other additional aspects and expenses such as the ones needed to move in or have your goods delivered. The goal of this article is to show that places offered for short term rent and ones that you might live in, have similar criteria when it comes to the size of the rent. In the end of the day the key factor that determines the lease is convenience. We will break it down below and will see its components.
If a property is in a bad shape then you can get a bargain
Condition
This is the first thing that a person sees once they set foot inside or see photos on the internet. The condition of the room or the apartment is directly linked to the asking price for rent. It is obvious that hotels and lodges work on the same principle. The length of the stay is not a factor here at all. People are willing to pay crazy money for luxury hotels in which they stay for just a few days. On the other hand if you want to move in to a flat in the UK which is freshly renovated you must be ready to pay more than usual. The investment in the property determines the asking price. After all a landlord is the one to pay good money for handyman services. London indeed has to offer a lot when it comes to renovations. Professional services are needed for all types of domestic projects and they cost money. However, there are always some great companies which provide reliable handyman services such as Goodman Handyman in North London for example. A good plumbing or painting job is easy to see and this works to the advantage of the owner. Additionally rent can go up if:
- The floor has been freshly replaced
- Window frames are brand new
- Kitchen appliances have just been installed
- Upholstery and curtains are in excellent condition
If you are to move in at a place which requires a thorough repair then you will not settle for a high price. Apartments which require a team and a van full of construction materials in order to look habitable are typically cheap. But is this the only reason? Will people pay good money to lease a flat or a room which is in an awful condition? The answer is “yes”, as we move on to the next point.
Location
Convenience is also related to the number of actions or movements you need to perform in order to reach your goal. For example you want your hotel to be right by the slope at a winter resort. You want your room to be situated next to the beach and you want your flat to be right by the Tube station in London. Living at distant boroughs of London is typically cheaper because you need to change a few buses or make connections underground in order to get to The City. That being said, people are willing to pay a lot just to lease an apartment at a convenient area in London. In fact it turns out that location defeats both the condition and the size of the apartment when it comes to being a crucial factor. Some folks are willing to spend good money only to sleep on a couch in Islington or North London if this will allow them to reach their office easily. At least they don’t sleep in vans. Our desire to move as little as possible has driven us to the point where we want to spend absolutely no time walking or changing buses. It is true that time is our most expensive asset but things are getting out of hand. People are becoming more impatient by the minute. If a professional delivery company is just a little late, we demand compensation. We hate sitting at an airport too. Our impatience can be seen when we start picking a place to live.
If you need larger rooms then get ready to pay
Size
Size definitely matters especially when we talk about accommodations. It is funny how neglected this part initially is. Most fellas are satisfied with just a little room because they are sure that they can live in a very well-organised way. Younger families underestimate the square footage of apartments and only a few years in they realise that they need something way larger. It’s in human’s nature to keep buying things and never get rid of them. Few families conduct house clearance regularly. Most of us just keep on piling. We start buying new cabinets, larger wardrobes to the point where we simply stop having room even for them.
This is why landlords charge a lot for spacious homes. It doesn’t really matter how big your suite or room at a hotel is. If you are about to rent a place short term then this aspect of the price making won’t be a factor. Spending a weekend at a huge rented flat in the middle of London won’t matter because you will be probably out all the time. Even if you aren’t and stay in all the time you will struggle to utilise the whole area that you have. In case you are looking to settle down and spend some years at a given apartment then you should be ready to pay more for bigger square footage. A time will come when you will be grateful that you have opted for more space.
All in all these are the three factors that contribute to the size of the rent you will pay. As we can see all three of them are relevant both for short term and long term leases. Try to find a balance between the three and only then call the moving company to collect and deliver your furniture.
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