How can a Covent Garden property management company assist landlords?
Covent Garden is a well-known London shopping district, known for its cultural significance. It has a rich history, dating back to the 17th century when it was the site of a fruit and vegetable market. Throughout the 19th century, it became an entertainment hub for the city, with music halls, theatres, and other venues. Today, it’s a popular tourist destination and is well-known for its shopping.
Over the years, Covent Garden has undergone several transformations. However, it’s still home to some historic buildings, including the Royal Opera House. Since it was opened all the way back in the 18th century, it has been a staple of Covent Garden and a major part of the area’s cultural heritage.
Today, the vibrant street life, culture, and historic architecture of Covent Garden make it an attractive place to live or visit.
Why Do Renters Like Covent Garden?
While Covent Garden may be better known for its shopping, it’s still an attractive place to live in London. Close proximity to things to do, excellent transport links, and of course, all that shopping right on your doorstep are just some of the main reasons why it’s worth investing in this area.
And landlords can see huge returns on their rental property investments in Covent Garden. The average monthly rent for a studio flat is £1,421, while you can get £2,649 per calendar month for a two-bedroom flat.
Covent Garden has a small population of 4,659, and most people who live here are in their forties. Almost 40% of residents are educated with a degree, while just over 7% are students, and just over 15% are retired. Crime and unemployment rates are low, making it an attractive area to invest or rent.
Shelton Street: A Hidden Gem in Covent Garden
Nestled within the heart of Covent Garden, Shelton Street stands as a testament to London's rich blend of history and modernity. This bustling lane, lined with a mix of historic buildings and contemporary establishments, offers a unique investment opportunity for landlords looking to tap into the Covent Garden property market.
Historically, Shelton Street was known for its artisan workshops and local trades. Today, it has transformed into a sought-after residential and commercial hub, boasting a range of boutique shops, quaint cafes, and luxury apartments. Its proximity to renowned theatres, the Royal Opera House, and the central piazza of Covent Garden makes it a magnet for tourists and locals alike. For landlords, properties on Shelton Street promise high rental yields, given its prime location and the ever-growing demand for accommodations in Covent Garden.
Moreover, with the ongoing infrastructural developments and the push towards making Covent Garden a pedestrian-friendly zone, the value of properties on Shelton Street is poised to appreciate further. Investing here not only ensures a steady rental income but also potential capital appreciation in the long run.
What makes Shelton Street in Covent Garden a good investment?
Shelton Street offers a unique blend of historical charm and modern amenities, making it attractive for both residential and commercial leasing. Its central location, coupled with the ongoing developments in Covent Garden, ensures high rental yields and potential property appreciation.
How Can a Covent Garden Property Management Company Help?
Whether you already have a Covent Garden property or are looking to invest, there are many reasons to consider working with a Covent Garden property management company. This area of London is in high demand, and ensuring your property stands out from the crowd is not always easy.
You can expect the following services from a Covent Garden property management and protection company:
Advertising
Marketing your property when it’s empty can be time-consuming. It may also be more difficult than you first realised, especially if you are up against a lot of similar properties in the surrounding areas that are also available for rent. Not only do you need to ensure that the property is priced competitively, but you’ll also need to put together an engaging and inviting listing that makes potential tenants want to learn more. A good Covent Garden property management company can take care of all this for you.
Vetting Tenants
Making sure you’ve got the right tenants can become the responsibility of the property management company. When looking for tenants, it’s always important to ensure that the person living in your Covent Garden property is somebody that you can trust. It’s not always easy to tell how a tenant is going to be just from meeting them, but with the help of a good Covent Garden property management company, you can get more peace of mind. They will conduct a range of checks, such as background, affordability, employment, and reference checks on potential tenants to make sure that there is nothing shady in their history that might put you off renting to them.
Maintenance
Keeping your property well-maintained and up to legal standards can take up a lot of your time and effort as a landlord. With a good Covent Garden property management company, you can sit back and relax as they take care of this aspect of the job for you. Property management companies in Covent Garden will look after all aspects of cleaning the property in between tenants, ensuring that the décor is fresh, and arranging all necessary, legally required safety checks such as EICR certificate testing and Gas Safety Checks as needed.
Emergency Call Outs
As a landlord, the last thing you want is to find out there has been an emergency in your Covent Garden property, but it happens – and often at inconvenient times. Investing in a rental property might not have felt like such a good idea if you’ve ever been in a situation where you’ve been woken up in the middle of the night by a call about a burst pipe or similar emergency. With a good Covent Garden property management company, you don’t need to worry about this situation. They will have a dedicated phone number and team that tenants can contact about any issues. Many have emergency numbers that are manned round the clock and will be able to respond swiftly to emergencies while you don’t lose out on sleep.
Legal Aspects of Renting Property in Covent Garden
There can be a lot to get to grips with when it comes to the laws and regulations you need to follow as a landlord. And these are always changing – just recently, the laws surrounding renting a property in the UK have been changed and tightened. Staying up to date with them all is not always easy, and you may find yourself in a tricky position if you weren’t aware of changes and did not act.
When working with a Covent Garden property management company, all legal aspects of renting out a property will be taken care of for you. This includes not only making sure that the property is up to scratch in terms of the legal requirements, such as licensing and regular checks, but also handling any legal issues that might arise. For example, evicting a bad tenant can bring with it a lot of paperwork and legal red tape that many landlords don’t have the time to deal with alone. Property management companies in Covent Garden have dedicated staff who do this every day and can take care of it on your behalf.
Whether you’re new to investing in Covent Garden or want to get more from your existing property in the area, we can assist. Hundreds of London landlords trust UpperKey with their properties. If you’re not sure where to start, or not sure where you are going wrong with your property, contact us today to see how we can help you reach your goals.
