The introduction of a 'Facebook Rental Surgery' is just one of the ways upad is embracing social networking as it rolls out its rental service nationwide.

upad launched in London in October 2008, offering landlords a way of advertising their properties for a one-off cost of £59.

The company claims this service is now available to the 1.5 million landlords in the UK which they say is equivalent to the entire populations of Birmingham and Glasgow combined.

Visitors to the www.upad.co.uk site can link to upad's Facebook group, the 'Rental Surgery', where a team of experts including a solicitor and IFA can answer questions online on issues ranging from capital gains tax to tenancy agreements.

Renters and landlords can also share their views and experiences via mini news alerts, discussion boards and RSS blog feeds.

A new Wikipedia (www.upad.co.uk/wiki ) application provides free information relating to the property rental sector. As well as searching for material (by words and phrases) individuals and companies will be encouraged to build the upad community by contributing relevant articles and content.

James Davis, upad's CEO, explained: "upad makes life easier for landlords, and the take-up of the service following its launch in London demonstrated that people are crying out for what we can offer.

To mark its national launch, upad is giving away £pound; 100,000 in free online advertising. Between 10th and 19th June 2009, upad will allow almost 1,700 ads to be posted at no cost, enabling landlords and estate agents to advertise as many vacant properties as they want free of charge.

How tenants in London get more for their money A greater supply of properties at competitive prices is boosting the appeal of renting in the capitalFrancesca Steele and Rebecca O’Connor

It is a good time to be a tenant. Rents have fallen by between 5 per cent at the bottom end of the market and by up to 30 per cent for prime homes in London since last year, making it possible to get more for your money - although rents are now showing signs of stabilising at an average of £ 1,630 a month in the capital, according to FindaProperty.com.

Renting has always been a London thing - with rented accommodation accounting for one in five properties, according to Hometrack - but there has never been less stigma attached. A consequence of the decline in mortgage availability has been more demand for rentals from those who do not have a big enough deposit to buy. Buyers who have the cash but are biding their time are also in the market and Propertyfinder.com says that people are now as interested in rental listings as they are in homes for sale.

There are also more rentals to choose from, as a result of an increase in the number of "accidental landlords" - owners who would rather let than sell. Propertyfinder recorded a 10 per cent rise in the number of homes for rent in the past six months, compared with a 15 per cent fall in sales listings. It is this trend that has pushed down costs. "Rents in Central, West and southwest London are down by about 20 per cent since their peak in Q1 2008. Properties at the top end in Kensington and Chelsea have dropped by as much as 30 per cent. Demand remains strong as people find it difficult to raise a deposit and continue to rent for longer," says Virginia Skilbeck, lettings director of the estate agent Douglas & Gordon.

Unlike the sales market, there are few indices tracking rents, making it hard for potential tenants to know what they can expect for their money. Thanks to recent falls in the average cost, they can expect quite a bit more.

· How tenants in London get more for their money

THE TOP END OF THE MARKET

Volatility is the word that best describes the top end of the market, according to letting agents responsible for properties that cost at least £ 2,000 a month. Large family houses and corporate lets are in this category.

Properties letting for between £ 1,000 and £ 2,500 a week - many of which are family homes in Central, West and southwest London - have suffered the largest declines, down on average by 20 per cent in the past 18 months, mainly as a result of a flood of homes offered by reluctant landlords. Relocation activity is down by almost 80 per cent in the corporate sector, according to Rachel Askew, of John D. Wood & Co.

However, as more fledgling landlords struggling to let give up and sell instead (this is already happening in Crouch End, according to Kinleigh Folkard & Hayward), Savills expects that the prime London rental market will show signs of recovery.

But, like the sales market, the "super-prime rentals" - anything from £ 5,000 to £ 15,000 a week - have fared less badly. Jane Ingram, head of lettings at Savills, says: "Once you get above £ 5,000, it might as well be £ 10,000 as far as the tenant is concerned. The people interested in this type of property tend to be CEOs and hedge fund managers. They care more about storage, security and location, not about saving a few pennies."

One example of such a property is 131 Old Church Street, just off Kings Road in Chelsea. It’s a Victorian terrace, pictured above, with five double bedrooms, off-street parking and a designer garden. Then there is the electric skylight on the top floor and a security system that can fool burglars into thinking that someone is at home when you are away. It is available to rent from July for £ 6,750 a week via Strutt & Parker (020-7589 9966.)

THE MID MARKET

Almost 40 per cent of tenants pay between £ 1,200 and £ 2,000 a month for their property, according to Hometrack. Virginia Skilbeck, lettings director for Douglas & Gordon, says there are two main types of property in this bracket: smaller family homes in slightly less central areas such as Earlsfield, Crouch End and Mile End, and plush one and two-bedroom flats in central areas such as Hampstead, Islington and London Bridge, which appeal to wealthy students and to couples in their late twenties and early thirties.

Agents say the family market is particularly lively at the moment, as interest surges in homes near good schools. One-bedroom flats close to £ 1,200 are, as ever, extremely popular. Although rents have dropped by about 10 per cent in the past year in this bracket, you are unlikely to knock more off the asking price. Landlords do not want to drop the price farther below the big reductions they have already made and there is plenty of competition from other tenants. Families looking for quality homes with three bedrooms or more within a budget of under £ 2,000 a month may find the odd bargain in areas such as Tooting Bec, SW17, where Hursley Estates has a four-bedroom Edwardian house, left, for £ 1,625 a month (0843 2823 627). However, they should also be prepared to look farther afield, at Richmond, for example, where four-bedroom terraces can be found for £ 1,600 a month. The northern end of the borough, towards Sheen and Mortlake, tends to be cheaper. For those determined to live centrally, Douglas & Gordon has a one-bedroom flat in Whiteheads Grove, SW3, which was let in 2008 for £ 575 a week and is now available for £ 450. (020-7581 6666; douglasandgordon.com).

THE CHEAP END OF THE MARKET

Rents of less than £ 1,000 fall into this category, according to Hometrack. Falls in rent have been less pronounced at this level, with tenants negotiating discounts of about 5 per cent when leases come up for renewal, according to Trevor Moross, managing director of Dorrington Property, an investor.

However, landlords are not even budging this much if they are confident that demand for the property is strong enough. The reason rents in this segment are holding up and are less volatile than corporate lets is that demand is "needs-based" - in other words, "the classic young professional who needs to live in London for work but doesn’t have enough money to buy," says Richard Donnell, research director of Hometrack.

Given that there is increasing number of workers who fit this description living in the capital, there is plenty of demand.

Upad.co.uk, the rentals website, has recorded that cheaper areas close to the most sought-after London postcodes are attracting more interest from tenants. James Davis, of upad, says: "We have noticed more interest for areas such as Holloway Road, which is 30 per cent cheaper than nearby Islington, than in Islington itself. Likewise in Cricklewood, where you can get a two-bedroom flat for £ 1,300 a month compared with £ 1,850 for something similar in West Hampstead. Cricklewood is still just ten minutes from Willesden station, has good shops and bars and is close to the motorway."

The farther out you go, the more opportunity to negotiate down the rent, because there is less competition for property. Moross says: "There is not an oversupply of flats in Central London locations, but it becomes more of an issue in out-of-town suburban areas."

The cheapest possible option remains renting a room from a resident landlord rather than a whole flat or house. Rooms in larger houses cost as little as £ 300 a month, and more are coming on to the market, says Davis. "This is perhaps down to city workers not getting their bonuses and choosing to rent out a spare room for extra income."

CASE STUDY

Matt Davies, 34, who has been renting with his girlfriend Katie Dedman, 33, for seven years, thinks home ownership is overrated. The couple, left, live in a rented two-bed garden flat in Highgate, North London, where they pay £ 1,675 a month. "We could afford to buy something small - we have a deposit - but we want prices to come down a bit further. We would rather be chain-free for when a big bargain property comes up than scrimp and save to buy a poky flat that I don’t actually enjoy living in." The couple admit that they could have saved more by renting in a cheaper area (average rents in Highgate are £ 771 a week, according to Globrix.com) but did not want renting to feel like a stopgap. "Life’s too short to live somewhere you hate. Plus we didn’t want to get burgled like some of our friends - here we live two minutes’ walk from the Tube," says Matt, who runs his own business, Yokeshopper.com, from home. When their lease ends in May next year the couple hope to buy, but only if prices have dropped substantially. Matt says: "Houses can end up owning you. I’ve managed to save enough for a deposit while renting, and have also been free to move to lots of different areas of London like Ealing, Clapham and Ladbroke Grove in the process, which I have loved."

A greater supply of properties at competitive prices is boosting the appeal of renting in the capital

It is a good time to be a tenant. Rents have fallen by between 5 per cent at the bottom end of the market and by up to 30 per cent for prime homes in London since last year, making it possible to get more for your money — although rents are now showing signs of stabilising at an average of £1,630 a month in the capital, according to FindaProperty.com.

Renting has always been a London thing — with rented accommodation accounting for one in five properties, according to Hometrack — but there has never been less stigma attached. A consequence of the decline in mortgage availability has been more demand for rentals from those who do not have a big enough deposit to buy. Buyers who have the cash but are biding their time are also in the market and Propertyfinder.com says that people are now as interested in rental listings as they are in homes for sale.

There are also more rentals to choose from, as a result of an increase in the number of 'accidental landlords" — owners who would rather let than sell. Propertyfinder recorded a 10 per cent rise in the number of homes for rent in the past six months, compared with a 15 per cent fall in sales listings. It is this trend that has pushed down costs. 'Rents in Central, West and southwest London are down by about 20 per cent since their peak in Q1 2008. Properties at the top end in Kensington and Chelsea have dropped by as much as 30 per cent. Demand remains strong as people find it difficult to raise a deposit and continue to rent for longer," says Virginia Skilbeck, lettings director of the estate agent Douglas & Gordon.

Unlike the sales market, there are few indices tracking rents, making it hard for potential tenants to know what they can expect for their money. Thanks to recent falls in the average cost, they can expect quite a bit more.

THE TOP END OF THE MARKET

Volatility is the word that best describes the top end of the market, according to letting agents responsible for properties that cost at least £2,000 a month. Large family houses and corporate lets are in this category.

Properties letting for between £1,000 and £2,500 a week — many of which are family homes in Central, West and southwest London — have suffered the largest declines, down on average by 20 per cent in the past 18 months, mainly as a result of a flood of homes offered by reluctant landlords. Relocation activity is down by almost 80 per cent in the corporate sector, according to Rachel Askew, of John D. Wood & Co.

However, as more fledgling landlords struggling to let give up and sell instead (this is already happening in Crouch End, according to Kinleigh Folkard & Hayward), Savills expects that the prime London rental market will show signs of recovery.

But, like the sales market, the 'super-prime rentals" — anything from £5,000 to £ 15,000 a week — have fared less badly. Jane Ingram, head of lettings at Savills, says: 'Once you get above £5,000, it might as well be £10,000 as far as the tenant is concerned. The people interested in this type of property tend to be CEOs and hedge fund managers. They care more about storage, security and location, not about saving a few pennies."

One example of such a property is 131 Old Church Street, just off Kings Road in Chelsea. It’s a Victorian terrace, pictured above, with five double bedrooms, off-street parking and a designer garden. Then there is the electric skylight on the top floor and a security system that can fool burglars into thinking that someone is at home when you are away. It is available to rent from July for £6,750 a week via Strutt & Parker.

THE MID MARKET

Almost 40 per cent of tenants pay between £1,200 and £2,000 a month for their property, according to Hometrack. Virginia Skilbeck, lettings director for Douglas & Gordon, says there are two main types of property in this bracket: smaller family homes in slightly less central areas such as Earlsfield, Crouch End and Mile End, and plush one and two-bedroom flats in central areas such as Hampstead, Islington and London Bridge, which appeal to wealthy students and to couples in their late twenties and early thirties.

Agents say the family market is particularly lively at the moment, as interest surges in homes near good schools. One-bedroom flats close to £1,200 are, as ever, extremely popular. Although rents have dropped by about 10 per cent in the past year in this bracket, you are unlikely to knock more off the asking price. Landlords do not want to drop the price farther below the big reductions they have already made and there is plenty of competition from other tenants. Families looking for quality homes with three bedrooms or more within a budget of under £2,000 a month may find the odd bargain in areas such as Tooting Bec, SW17, where Hursley Estates has a four-bedroom Edwardian house, left, for £1,625 a month. However, they should also be prepared to look farther afield, at Richmond, for example, where four-bedroom terraces can be found for £1,600 a month. The northern end of the borough, towards Sheen and Mortlake, tends to be cheaper. For those determined to live centrally, Douglas & Gordon has a one-bedroom flat in Whiteheads Grove, SW3, which was let in 2008 for £575 a week and is now available for £450.

Rents of less than £1,000 fall into this category, according to Hometrack. Falls in rent have been less pronounced at this level, with tenants negotiating discounts of about 5 per cent when leases come up for renewal, according to Trevor Moross, managing director of Dorrington Property, an investor.

However, landlords are not even budging this much if they are confident that demand for the property is strong enough. The reason rents in this segment are holding up and are less volatile than corporate lets is that demand is 'needs-based" — in other words, 'the classic young professional who needs to live in London for work but doesn’t have enough money to buy," says Richard Donnell, research director of Hometrack.

Given that there is increasing number of workers who fit this description living in the capital, there is plenty of demand.

Upad.co.uk, the rentals website, has recorded that cheaper areas close to the most sought-after London postcodes are attracting more interest from tenants. James Davis, of upad, says: 'We have noticed more interest for areas such as Holloway Road, which is 30 per cent cheaper than nearby Islington, than in Islington itself. Likewise in Cricklewood, where you can get a two-bedroom flat for £1,300 a month compared with £1,850 for something similar in West Hampstead. Cricklewood is still just ten minutes from Willesden station, has good shops and bars and is close to the motorway."

The farther out you go, the more opportunity to negotiate down the rent, because there is less competition for property. Moross says: 'There is not an oversupply of flats in Central London locations, but it becomes more of an issue in out-of-town suburban areas."

The cheapest possible option remains renting a room from a resident landlord rather than a whole flat or house. Rooms in larger houses cost as little as £300 a month, and more are coming on to the market, says Davis. 'This is perhaps down to city workers not getting their bonuses and choosing to rent out a spare room for extra income."

CASE STUDY

Matt Davies, 34, who has been renting with his girlfriend Katie Dedman, 33, for seven years, thinks home ownership is overrated. The couple, left, live in a rented two-bed garden flat in Highgate, North London, where they pay £1,675 a month. 'We could afford to buy something small — we have a deposit — but we want prices to come down a bit further. We would rather be chain-free for when a big bargain property comes up than scrimp and save to buy a poky flat that I don’t actually enjoy living in." The couple admit that they could have saved more by renting in a cheaper area (average rents in Highgate are £771 a week, according to Globrix.com) but did not want renting to feel like a stopgap. 'Life’s too short to live somewhere you hate. Plus we didn’t want to get burgled like some of our friends — here we live two minutes’ walk from the Tube," says Matt, who runs his own business, Yokeshopper.com, from home. When their lease ends in May next year the couple hope to buy, but only if prices have dropped substantially. Matt says: 'Houses can end up owning you. I’ve managed to save enough for a deposit while renting, and have also been free to move to lots of different areas of London like Ealing, Clapham and Ladbroke Grove in the process, which I have loved."