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. More Rental Properties In Central London Being Managed
An increasing number of landlords are opting to have their properties in central
London 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-let
property can prove an excellent way to make money. However, many people fail to
appreciate that becoming a landlord or expanding a property portfolio comes with
added responsibility.
Effective property assistance is essential, but can be extremely time consuming,
especially for part-time or temporary landlords. A lack of professionalisation can
leave some tenants paying high rental prices for poor quality housing and an
inadequate property management service.
However, times are changing and fewer tenants are prepared to put up with bad
housing conditions or poorly managed properties, thanks in part to Government-
backed schemes, such as the Tenancy Deposit Protection scheme, which was
introduced to help safeguard tenants and landlords, and to also improve standards
in the private rented sector.
Sarah Rushbrook, Founding Director of property management company Rushbrook
& Rathbone, said: “In 2007 the Tenancy Deposit Protection scheme was introduced
and I have read research recently stating that tenants are now more aware of what
is available to them. This in itself is good news as tenants should absolutely have
all knowledge about requirements now in place.”
The private rented sector has grown to its highest level (17 per cent) since the
early 1990s, equalling the size of the social rented sector at 3.8 million
households, according to the 2011-12 English housing survey from the
Department for Communities and Local Government (DCLG).
2. This growth in the buy-to-let sector is reflected by greater demand for Central
London property services, such as sales, letting, property management and
general housing advice.
“Winkworth’s central London offices have for some time been experiencing growing
interest in prime London properties,” said Dominic Agace, CEO of Winkworth. “With
a track record as a safe investment market, demand [for property in Central
London] will always be high.”
The rise in demand for properties in Central London has left some leading Central
London property firms, such as Napier Watt, having to expand their property
consultancy team.
The company recently appointed Louise Torkmorad, one of Central London's finest
negotiators, as a senior property consultant to help cope with greater demand from
buyers, including buy-to-let property investors looking to take advantage of
favourable property investment conditions in Central London.
Record high rental prices and an increase in corporate demand are also
underpinning the rental market in Central London, with a growing number of rental
applicants registering their interest for properties in the heart of the capital.
Consequently, there is now added pressure on the private rental sector to supply
better quality housing, an improved letting experience and provide a professionally
managed rental service. Those landlords who are unable to sustain this high
standard, will simply find that their tenants will move on and find an alternative
property to rent.
Adam Feather, head of Robert Anthony, which offers a Central London property
management service, commented: “An increasing number of responsible
landlords are now taking their residential investment far more seriously by
adopting a professional approach to renting. As a consequence, more landlords
3. appreciate the benefits of providing their tenants with a professionally managed
property service.”
A growing number of landlords are likely to turn to professional management firms
for peace of mind in order to better manage their property, a major asset, which
must be carefully managed in order to maximise rental returns.