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More rental properties in central london being managed


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Napier Watt Central London estate agents are residential real estate agents & property consultants based in Mayfair. Specialising in the sale and letting of property (flats and houses) throughout Central London with particular emphasis on Marylebone and Hyde Park.

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More rental properties in central london being managed

  1. 1. More Rental Properties In Central London Being ManagedAn increasing number of landlords are opting to have their properties in centralLondon managed, according to various Central London property consultants.Investment in buy-to-let has been an increasingly popular concept in recent years,particularly for people looking to supplement their pensions. Investing in buy-to-letproperty can prove an excellent way to make money. However, many people fail toappreciate that becoming a landlord or expanding a property portfolio comes withadded responsibility.Effective property assistance is essential, but can be extremely time consuming,especially for part-time or temporary landlords. A lack of professionalisation canleave some tenants paying high rental prices for poor quality housing and aninadequate property management service.However, times are changing and fewer tenants are prepared to put up with badhousing conditions or poorly managed properties, thanks in part to Government-backed schemes, such as the Tenancy Deposit Protection scheme, which wasintroduced to help safeguard tenants and landlords, and to also improve standardsin the private rented sector.Sarah Rushbrook, Founding Director of property management company Rushbrook& Rathbone, said: “In 2007 the Tenancy Deposit Protection scheme was introducedand I have read research recently stating that tenants are now more aware of whatis available to them. This in itself is good news as tenants should absolutely haveall knowledge about requirements now in place.”The private rented sector has grown to its highest level (17 per cent) since theearly 1990s, equalling the size of the social rented sector at 3.8 millionhouseholds, according to the 2011-12 English housing survey from theDepartment for Communities and Local Government (DCLG).
  2. 2. This growth in the buy-to-let sector is reflected by greater demand for CentralLondon property services, such as sales, letting, property management andgeneral housing advice.“Winkworth’s central London offices have for some time been experiencing growinginterest in prime London properties,” said Dominic Agace, CEO of Winkworth. “Witha track record as a safe investment market, demand [for property in CentralLondon] will always be high.”The rise in demand for properties in Central London has left some leading CentralLondon property firms, such as Napier Watt, having to expand their propertyconsultancy team.The company recently appointed Louise Torkmorad, one of Central Londons finestnegotiators, as a senior property consultant to help cope with greater demand frombuyers, including buy-to-let property investors looking to take advantage offavourable property investment conditions in Central London.Record high rental prices and an increase in corporate demand are alsounderpinning the rental market in Central London, with a growing number of rentalapplicants registering their interest for properties in the heart of the capital.Consequently, there is now added pressure on the private rental sector to supplybetter quality housing, an improved letting experience and provide a professionallymanaged rental service. Those landlords who are unable to sustain this highstandard, will simply find that their tenants will move on and find an alternativeproperty to rent.Adam Feather, head of Robert Anthony, which offers a Central London propertymanagement service, commented: “An increasing number of responsiblelandlords are now taking their residential investment far more seriously byadopting a professional approach to renting. As a consequence, more landlords
  3. 3. appreciate the benefits of providing their tenants with a professionally managedproperty service.”A growing number of landlords are likely to turn to professional management firmsfor peace of mind in order to better manage their property, a major asset, whichmust be carefully managed in order to maximise rental returns.