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London’s rental market, an evolving market
The private rental sector is the fastest growing tenure in the UK with over 1.8 million renters in London alone. The huge demand for quality stock means new build stock is particularly popular with discerning renters.
James Thornett, Head of Lettings discusses what our overseas clients look for when they choose a letting agent in the UK.
For many years London has been one of the most popular places for global investors to purchase property due to a stable economy, and a robust housing market. So, purchasing property in the capital to rent out has become commonplace. Being a global company, we are accustomed with dealing with clients who are based all over the world. And in particular, we work with many clients who are based in Hong Kong, Dubai, and China, where we have a large residential base.
In our experience, landlords based overseas are very au fait with the London market and are looking to partner with a professional managing agent who can advise them on how best to maximise the return on their investment. As well as the usual property management function of being on hand to deal with a tenant's maintenance issues throughout a tenancy. We have found that the following factors are top of on overseas investor's list when choosing which agent to entrust their properties to:
- Local branches in their home country, so there is always someone available who they can talk to face to face, or can easily reach on the phone without worrying about time difference. This has proven to be very beneficial for our clients in Hong Kong, China, Dubai, and Singapore.
- Our extensive lettings service, which includes lettings, property management, and our post-completion handover service for those landlords buying newly built properties, rent collection, and tax accounting service.
- Strength of our London network, to ensure we have success in finding quality tenants for their London properties.
As Head of our London Lettings operations, I regularly travel to visit our overseas residential offices to engage with as many clients as I can, ensure we continue to offer our clients the service they require.
If you would like to find out more information about our lettings service, please speak to a member of the team here.