The shortage of stock in the prime central London rental market continues and demand shows no signs of letting up, meaning now is the perfect time to let your property.
Whilst supply and demand are seemingly rebalancing in the sales market, the shortage of stock continues in the prime central London rental market and demand shows no signs of letting up, meaning now is the perfect time to let your property.
The imbalance of supply and demand has meant that rents are steadily increasing, with the average rental values rising 16% in the year to June. We expect this trend to continue as corporate international families relocate during summer holidays and students starting the new school year in September try to beat the rush.
With the threat of increasing interest rates and inflation potentially stalling the sales market, now is the right time to enter your property into the rental market. We are achieving premium prices and the majority of tenants are willing to commit to a minimum of one- or two-year tenancies, futureproofing your asset and providing positive ROIs. To get an up-to-date rental valuation please don’t hesitate to contact us, we will be happy to visit and provide our experienced opinion, free of charge.
This year Plaza Estates is celebrating its 50th anniversary, we’re very proud to continue to be an independent local agency. One of our many strengths at Plaza is our hands-on and very personal approach. The same member of staff that shows a property deals with the tenancy negotiations, drawing up the tenancy agreement and tenant referencing, guiding the landlord with legal and practical tenancy matters, rent collection, queries during the tenancy, renewals and end of tenancy arrangements as well as the deposit return.
This continuity of service to clients is incredibly rare amongst other agents and is something we are extremely proud of. It’s what differentiates us from so many agents with centralized administration departments and ever-changing personnel. If the property is under our full management the landlord benefits from the services of the management department too, in conjunction with the lettings office. Tenants also like to know who they are dealing with and we find this consistency of staff and the relationship between the parties incredibly beneficial to both landlord and tenant and has helped set us apart from the extremely competitive market.
Do please get in touch if we can help you in any way. Our management service is available on a three-month minimum basis and is available to landlords even if we have not let the property for you. We are happy to give general ad hoc advice or to become fully involved with your rental property portfolio.