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Cost of Moving House Totals £2,000 in London
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
The cost of moving house in the private rental sector totals around £2,000 in London, according to flat and house share website SpareRoom.co.uk.
Cost of Moving House Totals £2,000 in London
The site reports that the most expensive part of moving house is the large deposits required by many landlords at the start of a new tenancy. This initial expenditure, which usually includes a deposit and the first month’s rent, is usually required alongside letting agent fees and the cost of a removal company or van.
The cost of moving for tenants in London comes in above the national average, at £2,043, while the rest of the UK tends to spend £1,175 on moving house.
However, property inspection firm Imfuna Let notes that one way that landlords, tenants and homebuyers can increase the efficiency of moving house, as well as protecting their valuable assets, is to compile a professional inventory that details the condition of the property and all items within it.
Imfuna Let’s reports are generated on either smartphone or tablet, using photographs and voice notes to detail the state of the property.
Over in the USA, in-state moves are slightly less expensive than the UK, at $1,170. However, moving from one state to another will cost you around $5,630, according to the American Moving and Storage Association.
The Director of SpareRoom, Matt Hutchinson, comments: “With renters having to find a new deposit before they get their old one back, many simply can’t afford to move. That can mean missing out on employment opportunities or having to put up with rent increases.”
Having a thorough inventory at check-in and check-out will not only help landlords ensure that their property is looked after by tenants, but will help tenants get their deposit back faster when they move out.
Always put a report together before new tenants move in, and compare the state of the property when they move out to the initial inventory. Through highlighting any differences from check-in to check-out, you can easily deduct any necessary costs from your tenant’s deposit, meaning that they get their money back as soon as possible.
To help keep tenants’ costs of moving down and to ensure that your property remains in a good condition, remember to compile a detailed inventory.
