advice for renting with pets

Is renting cheaper than buying?

For the first time in six years, renting a home is cheaper than buying. Although it is only happening in four areas in the UK – North East, North West, Yorkshire and Humber, and Scotland, the trend might expand further if the pandemic continues. The average private-sector tenant in Britain spent £71 per month less in rent than if they were repaying a mortgage with a 10% deposit. This equates to a monthly spending of £1,054 on rent compared with £1,125 on the mortgage. The new trend might be convincing for many, thinking that they can avoid the headache of a mortgage and significant expenses, and still be better off than home buyers. But what are the actual advantages and disadvantages of renting or buying a house? If you are at a crossroads between buying and renting, this post is for you.

Pros of renting

Flexibility is one of the most important renting pros for many tenants. You can move out at short notice, and move to another home without making a significant commitment to one place. The maintenance of the place you are renting is the landlord’s responsibility, and all the repairs are their duty.

Additionally, with the flexibility of living in many different places and with different people, you get to know yourself and your preferences about your décor, localisation, utilities and many more. This knowledge might be useful for the future when you actually do buy a home.

Cons of renting

Renting a home is more expensive in some regions than in others. London’s rents are much higher than North East’s rents, but it also corresponds with the quality of life and work possibilities. Many people use the argument that renting is ‘’paying someone else’s mortgage’’.

Moreover, as the maintenance of the property is the landlord’s problem, they often fail to ensure the quality or withhold the deposits for general wear and tear. In unfavorable circumstances, tenants have to account for repairs and maintenance on their own. In addition to the ‘questionable landlords’ argument, many tenants are worried that they will be asked to move out within short notice. The constant uncertainty is one of the significant disadvantages of renting.

Pros of buying

First of all, buying a house is an investment. In the case of buying a house, unlike renting a property, the mortgage payments will eventually pay off your debt. Any renovations or improvements are effectively investing in your asset, which should reward you at a later date.

From a more personal perspective, your house means your rules. You can choose the décor, number of pets, number of tenants and the look of the garden. With this said, you can rent a spare room in your house and make extra income.

As a nation that has historically loved to own their own homes, buying a property certainly has its appeal!

Cons of buying

Inevitably, there are some disadvantages to owning your own home.

Firstly, it will be more difficult to move if you buy a house. As one of the pros of renting was flexibility, to sell and buy a house in a short period can be a real burden and a source of stress. Additionally,house prices and the unexpected costs to maintain a house can be very high. There are also additional costs of ownership, such as service charges and ground rent for leaseholders, and homeowners insurance in the case of older properties.

To pay off the mortgage and maintenance cost, you must guarantee a consistent income, even if you have a good credit score. Moreover, you have to consider that interest rates can increase and your monthly payments alongside them.

Whether we convinced you to buy a property or rent it, check out SearchSmartly’s intelligent property search platform , where you can find houses, flats and rooms satisfying your individual needs.

The Ultimate Guide to Renting in London with Your Pet

Finding somewhere to rent in London is hard enough as it is. For owners of pets, this is made several times harder because of the difficulty in finding pet friendly landlords and properties. SearchSmartly decided to find solutions that will put any London pet-owner at ease when looking to rent in the city

Guide to renting with pets

Renting a property as a pet-owner depends on the willingness of the landlord to accept pets in their property. Landlords are concerned about damage to the property, noise, and fouling. In order to put your pet’s best paw forward, we have assembled a few steps you can take to help you secure a lease.

Step One: Prepare a Pet CV. Use the CV as an opportunity to talk about your pet’s behaviour and personality. You should also mention any training your pets have received and how they behave inside of the home. Include details of your pet’s last vaccinations and flea & worming treatments. Here is a Pet CV template that you can use to address any concerns your landlord may have regarding your pet.

Step Two: Be prepared to pay a higher deposit, have less flexibility on the asking price or pay for any professional end of tenancy cleaning services. But hey, if your landlord is impressed with your pet CV, and if you maintain the property correctly, you may not have to! A reference from your previous landlord addressing those points would add leverage to your offer.

Step Three: Search for properties matching your lifestyle.

Use the SearchSmartly filter to find a list of properties suitable for your budget, commute, and lifestyle requirements.

Book a viewing with the property that is of interest to you, completing the registration form when prompted to do so.

Fill in your contact details, move in date, and add a comment about your pet in the notes section.

Keep in mind that newbuilds don’t generally allow pets, but unless it’s a strict building association policy, having your pet CV at hand, would help you negotiate with the property landlord.

We hope you find this information useful. Do let us know in the comments or feel free to get in touch via our website.

To start your search click here.

To download a Pet CV template, click here.