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We have seen another year of rental growth throughout London, with many of our clients achieving record prices. There continues to be a high demand for housing in the capital, and there are plenty of long-term investment opportunities.
We support our landlords by finding first-rate tenants, largely corporate or professionals looking for long-term tenancies. This demand from tenants has outstripped the properties available, and as a result of this, 70 per cent of tenants have opted to stay in their homes and extend their tenancies.
Our primary aim is to deliver the best results for our landlords by ensuring we never have any empty properties and rent is always paid. We are proud that less than one per cent of our landlords have experienced rent arrears over the last year, and we are one of the only agents who collect their fees when the rent is paid every month.
Our Corporate Services team is witnessing unprecedented demand, receiving over 250 enquiries each week from embassies and major corporations looking to relocate their employees. The capital remains an exciting place to live and work, and there are no signs that this activity will slow down.
London is a brilliant investment, and we are here to support you throughout your property journey, from finding you a high-quality tenant and managing your home to helping expand your portfolio and guiding you through the many legislative changes in our industry. As we grow and strengthen every part of the business, we are looking ahead full of optimism and have every confidence in the future of the London property market.
The Renters’ Rights Act will apply to all Assured Shorthold Tenancies (AST), including both new and existing tenancies. It will not impact company lets, rents over £100,000 per year or if the rental property is not the tenant’s primary home.
If you’ve chosen for us to be your managing agent, we will guide you through the following changes, ensuring you are compliant when they come into effect and make the process stress-free. If you’re managing your property yourself our Lettings Managers and Directors are on hand to offer advice should you have any additional questions.
● The process of ending a tenancy will change with new Section 8 grounds replacing Section 21 notices
● Periodic tenancies will replace fixed-term tenancies
● Annual rent reviews will be introduced
● Tenants can request a pet and landlords will need a legitimate reason not to allow the pet
● Decent Home Standard will be introduced in 2035
● Minimum EPC ratings for rented properties
● A mandatory redress scheme for all landlords
● A Private Rental Database for all rented properties
If you would like to know more about the Renters’ Rights Act, please contact your local Marsh & Parsons office and one of our experts will be happy to advise you.
Our Property Managers regularly visit the properties we look after, if you have decided to manage your property, please pay close attention to any signs of damp or mould, as it is your responsibility to ensure the property is free from hazards. If there are signs or your tenant reports that it is present, you must act promptly and agree to a plan of action with your tenant. Our property managers are experts in preventing these issues, so will be happy to advise you if this occurs at your property. We also share a helpful guide with all our tenants, which you may find useful.
We have a specialist Design & Refurbishment team who can help you make the most of your property and add value to your investment. We work closely with trusted contractors, architects, interior designers, and surveyors and can offer turn-key design and project management for everything from bathroom and kitchen refurbishments to extensions and conversions.
Our experts, who have extensive experience in property management, architecture, and construction, will assess your property and develop ideas with you to maximise its potential. We regularly communicate with our local lettings and sales teams to give you accurate and up-to-date market advice so you can trust us to come up with the best plan for your property’s future.
Further advice and information can be found in Managing your property – A landlord’s guide
More landlords than ever are looking for a professionally managed service to stay compliant, with over 170 pieces of legislation relating to rental property. In fact, most of the properties we look after are managed, as landlords trust us to care for their assets and keep them in prime condition. These managed homes receive the attention of our dedicated Property Managers, who are never more than 15 minutes away from the properties in their portfolio.
In recent months, we have witnessed an increase in the number of existing landlords actively growing their portfolios, and new landlords are registering with us to purchase investment properties. If you’re considering expanding your portfolio, London’s new developments are well-regarded as safe and profitable investments. Whilst requiring minimal upkeep for the landlord, new-build developments offering maximum comfort and a wide range of facilities are highly appealing to tenants.
To discuss how to yield the best return on your investment, speak to your local office. Or if you’re interested in finding out more information about New Homes, the team are on hand to help. Click here to see a selection of the capital’s latest developments.
With mortgage rates constantly changing, now is the perfect time to take advantage of our exclusive offer of a fee-free remortgage consultation with our team of buy-to-let mortgage specialists. So whether it’s checking you’re on the best deal or refinancing to fund another buy-to-let, we’re here to help.