Located just a short walk away from the busy Kensington High Street and Notting Hill areas, Holland Park is a popular residential area in London, offering residents peaceful surroundings but in close enough proximity to the city of London. It’s no surprise that Holland Park is a popular area for professionals working in London and families who want to live close to the city centre but not right in the middle of all the action. For buy to let landlords, there are various investment opportunities in Holland Park with mews houses and large terraces some of the most popular properties here. Houses are suitable for letting to families or groups of professionals as an HMO. With many celebrities choosing Holland Park as their home, it’s easy to see why this is one of the most sought-after areas to live in London and why tenants are often willing to pay a premium to rent a home here.
Investing in Holland Park Rental Property:
Along with the gorgeous houses that are available for investment in Holland Park, there are various reasons why this area is often a big hit with tenants. While it’s located close enough to the city of London with excellent transport links, the area has a more peaceful feel to it which is ideal for tenants who want somewhere homely and welcoming to go after a long day at work in the city. Its proximity to some of the main hotspots in London means that properties for rent in Holland Park are often snapped up quickly by tenants who are willing to pay more to be just a stone’s throw away from Kensington High Street, Portobello Road and Notting Hill. And, Holland Park itself is another main selling point for the area. It is considered to be the most romantic public space in London and offers a wide range of outdoor things to do.
Renting to Families in Holland Park:
Parents of children will often be drawn to live in Holland Park as it’s one of the most ideal areas in London for raising a family. The Kensington campus of the Southbank International School attracts families from all over the world, serving students from age three all the way to age 19. Other schools in the area are reputable and come highly recommended by both parents and students. In addition to this, many parents living in London like the opportunity to live close to a green space such as Holland Park to ensure that their family gets a well-rounded home experience. Holland Park offers sporting activities, walking routes, cycling routes and more.
Investing in Property – Why You Need Property Management in Holland Park:
It’s clear to see that Holland Park has the potential to be a very profitable area for landlords, with stunning homes that are in high demand and one of the best locations for living in London. Landlords who invest in this area are likely to get interest from a range of different tenants including groups of professionals who are looking to share a home, couples looking to move to a nicer area of London and families who want to make sure that they have everything they need for their kids nearby while still being able to get to work in the capital easily.
Whether you have your eye on an investment property in Holland Park or have already invested in a property here, a property management company can help you get the most from your investment. Property management companies in Holland Park offer a wide range of services to landlords and are an ideal choice if you will have a large property portfolio, do not have a lot of time to dedicate to managing the property yourself, don’t live in the area personally, or simply want expert help and advice.
What Do Property Managers in Holland Park Do?
Once you have invested in a Holland Park property and are ready to rent it to a tenant, a property management company can help in several different ways. For around 10-15% of the rent per month, you can expect a property management company to take care of several different aspects of owning and running a rental property, including:
Marketing the property is important to ensure that suitable tenants know that it is available, and get it filled as soon as possible. Not only will a property management company be able to photograph and list your Holland Park property for sale on a range of popular sites and apps, but they can also help you with setting a competitive rental price and making improvements if necessary to raise the rent. They will be the first point of contact for interested potential tenants, and can arrange viewings and show the viewers around the property.
· Tenant Vetting:
Finding the right kind of tenant for your property is an important part of being a landlord, but it’s not always easy to tell straight away if somebody is going to be a good tenant. A property management company will conduct a range of checks on your prospective tenants to get an idea of what they are like and if they are suitable for the property. They will look into their financial situation to ensure that they are going to be able to afford the rental price for the property comfortably, including getting proof of their employment and salary. They can also run criminal background checks to ensure that you are not renting to anybody who has an unsavoury background, as well as reference checks to find out more about the tenant from previous landlords.
· Moving In:
The property management company will also be able to take care of all the aspects of moving the tenant into your property. They will be able to collect the deposit payment from the tenant and ensure that this is held securely. They’ll also collect the first rent payment and draw up a tenancy agreement for you and the tenant to sign. Finally, they will ensure that the tenant is provided with all the relevant information needed about their new home.
· Collecting Rent:
The property management company can take care of collecting rent payments on your behalf. Most property management companies will have the tenant send the rent to the company, before they deduct your property management fee and pay you the remainder. This also makes it easier for the property management company to deal with any problems that might arise with rent payments such as late payments or missed payments. They can communicate with the tenant on your behalf and put strategies in place where needed such as changing the date to one that is more convenient for the tenant or setting up a payment plan.
Maintaining a rental property can be hard work. In some cases, you may get a good tenant who is happy to take care of most of the property maintenance themselves, while in other situations, you’ll need to be there to do jobs like redecorating, minor repairs, and more. While property maintenance isn’t something that you are going to be doing every day, it can cut into your time if you are working or have other things to do. And, it can be easy to fall behind on property maintenance, leaving you with more work to do in the future in between tenants. A property management company will take care of all aspects of property maintenance on your behalf including updating décor, replacing old fixtures and flooring, replacing windows, electrical wiring, plumbing systems, appliances, carrying out minor and major repairs, and more. In addition, they will often have deals and partnerships with reputable contractors in the area, which could mean that you save money compared to hiring somebody to do the work yourself.
Another main reason why landlords in Holland Park tend to choose a property management company is that they can take care of all emergencies for you. While good maintenance can help you avoid emergency situations like burst pipes and broken down appliances, it’s not always possible to completely prevent these situations from happening. Many good property management companies offer out of hours services to tenants so that there is always somebody available for them to call if they are dealing with an emergency at home at any time of the day or night.
A property management company can also take care of the side of property investment that most landlords would rather not have to deal with: evictions. While the good news is that the vetting and background checks carried out by the property management company at the start of the tenancy will help you avoid ending up with tenants that you’ll need to evict, it is sometimes unavoidable. Having a property management company to act as a third party, communicate with the tenant on your behalf and manage the eviction process can help to make it much less stressful and get you back on track sooner.
Holland Park is a highly desirable area of London for families, couples, and singles. With gorgeous homes and close proximity to major city hotspots, it can be a very profitable investment area for landlords as tenants are often willing to pay more to live here.