Finefair Ltd knows how valuable flexible services can be, especially to landlords. We strive to offer them, including a choice of options to manage, maintain, and let properties. Then, we can adapt if the client’s needs change. The fact we can scale any service to suit different portfolios is also really useful. It means clients can call on us for anything. This could be looking after studios or single bed properties or providing the best estate management Bromley can offer.

Rental incomes

Whether you have a buy to let portfolio or are planning to make your first investment, you need to look at rent rates. It is one of the first things you should check to confirm that investing is viable. For example, if the rent price in an area is not very high, you may struggle to cover your costs. It may also not provide a healthy yield, meaning your money could be better elsewhere.

It is important to look at the rent prices for another major reason; they can hint what type of tenants you may encounter. For example, if the rental rates are very high, you may have a smaller pool of potential renters to choose from. It may also deter families.

As the leading name for estate management Bromley has, we have a lot of experience with properties and different types of tenant. Therefore, we can offer the same great service to every single client, regardless of the specifics.

Rates differ by property

While you may see that the average rent for an area is a certain amount, it does not mean you will get this for any type of property. In fact, there can be a huge difference in rates depending on the size and type of home. Both of these things can also have a really big impact on the type of tenants you will be targeting.

Single bed

In London, rooms, studios, and one bedroom homes tend to have some of the lowest prices. These rates can be very attractive to young professionals who want to live on their own. For many, this will be the first type of property they live in away from their parents.

The areas with the lowest rental prices for these properties include Bexley, Havering, Sutton, and Bromley. Outer London areas tend to be the most affordable.

At the other end, the highest rates tend to be Central areas like Kensington and Chelsea, Camden, and the City of London. However, there can still be high demand for these because high net worth people who work in the city.

Two and three bedroom

These properties tend to have the highest demand because they appeal to a wider audience of tenants. For example families and sharers both enjoy them. Professionals looking for more space than a single bedroom can also choose them.

The best locations in London for these properties tend to be in the North East and East. In fact, the latter is a hotspot because while rates are low, the yields are high because of lower house prices.

Again Central locations have the highest rates. This includes places like Westminster, Camden, and Islington.

Four bed and more

While you may think that demand would be higher for properties with four or more bedrooms, the opposite is actually true. It can be a bit harder to let them. Some larger families will be targeting them but most often the tenants will be sharers. Lots of these large properties will become HMOs, letting to students or people from different households sharing. There can be higher costs for landlords here because they may need a license.

Once again Outer London areas tend to have the lowest rental rates for these properties. This includes locations like Bexley, Barking and Dagenham, and Havering.

Similarly, rates tend to be highest in the same Central areas. However, there are some other notable locations with high prices, including Richmond and Hackney.

Reliable estate management in Bromley

Finefair Ltd knows how important rent rates can be. We can work with clients to look at them and determine whether an investment will be viable. We also advise them to look at the yields; while a rate may not seem too high in one area, it can be offset by low property prices. In many cases this can provide better returns than higher rates in areas where the cost of investing is higher.

If a client does invest, we can help them with ongoing services. This can include managing properties, different types of letting, and guaranteed rent. As we said, we are the best for estate management Bromley has. We can offer this same great service for estates in all other parts of London. Where other companies may struggle with the specific challenges of an estate, we can take care of everything.

So, if you want to talk to us about investments and other services, please get in touch. You can also find out more about us on our website.