The pair decided to rent the five-bedroom house because they were tired of wasting money on posh hotels, reported Sun Online.
It was new mother Beyonce who found the suitable home for her family. And a deal was struck this week for a posh property near where "X Factor" boss Simon Cowell, Virgin chief Richard Branson and director Michael Winner live.
"Both Jay-Z and Beyonce are going to be spending a lot of time in London over the next few months. Jay is over here for his Watch The Throne Tour and Radio One's Big Weekend and Beyonce will be launching her perfume in Europe over the summer. They wanted to have somewhere more homely now they are parents," a source said.
The couple became proud parents in January after welcoming their daughter Blue Ivy Carter.
