Investing in Marylebone Property How Property Management Could Benefit You
Marylebone is a central London neighbourhood, located in the vibrant and popular West End. It’s bordered by Fitzrovia to the north, Mayfair to the south, and Regent’s Park to the west. The Marylebone post code consists of some of the most desirable areas in the capital. Marylebone has a rich history, dating all the way back to the 17th century. It played a key role in the development of the UK capital and was once home to prominent British figures such as Sir Arthur Conon Doyle.
Today, Marylebone is known for its buzzing artistic and cultural scenes. It’s a very diverse place to live, with a mixture of residents from a range of cultures and backgrounds. It’s a very popular area among young professionals and families and appeals to anybody looking to live in a central location with easy access to the rest of London.
Marylebone has a population of 24,639, with residents aged 33 on average. Over half of residents are educated to degree level, and there are low unemployment and crime rates. Unsurprisingly, it’s a prime location for professionals looking to rent in the capital, posing a lot of excellent opportunities for landlords.
Average rental prices start at £1,171 per calendar month for a studio, all the way up to £6,008 per calendar month for a 4-bedroom house.
Why Invest in Marylebone Property?
Marylebone is a prime location for London rental properties for several reasons. Some of the main reasons why people want to rent here include:
Vibrant cultural scene: Marylebone is an area that’s well-known for its vibrant, thriving cultural scene. There’s a range of things to do for both residents and visitors, including several renowned museums, theatres and galleries in the area. Several festivals and events are also hosted in Marylebone throughout the year, making it a cultural activity hub for the capital.
Green spaces: Unlike many other areas in the capital, Marylebone is surrounded by green spaces. Both Hyde Park and Regent’s Park are within walking distance, providing those living here with a lot of opportunity for outdoor leisure and recreation.
Luxury living: Marylebone has a range of high-end shops, restaurants, bars and more. It’s also home to various popular tourist attractions including the Sherlock Holmes Museum and the Wallace Collection.
Properties Available in Marylebone
If you’re considering investing in a luxury property to rent in Marylebone, there are several options to choose from. There’s a mix of residential and commercial properties. Apartments and townhouses are popular options here. Many larger houses are invested in and rented out as HMOs (houses of multiple occupation) for young professionals living and working in the capital.
How a Marylebone Property Management Company Can Help
Are you considering investing in rental property in Marylebone, or are you in need of help with your current Marylebone property? This area is very popular with tenants but finding the right one for you isn’t always easy. There’s a lot of competition here, which can make advertising your rental property challenging.
A Marylebone property management company can help boost your success in several ways. They offer a range of services you can take advantage of, including:
Marketing and advertising: A good property management Marylebone firm will put your property out there in front of as many potential tenants as possible. They will advertise your property as available to rent online and offline and arrange viewings with potential tenants.
Screening tenants: Tenant screenings are typically included as part of Marylebone property management and protection services. The main aim of this is to ensure that your property is kept in good condition with tenants you can trust and rely on. The property management company will take care of background checks and affordability checks to ensure that you’re getting tenants who’ll look after your property and be able to afford the rent.
Rent collection: Collecting rent payments each month can often be one of the most stressful parts of renting out a property. A good Marylebone property management company can take over this aspect of being a landlord on your behalf. They will collect rental payments directly from the tenant and handle any potential issues such as late payment or missed payments.
Property maintenance: A good Marylebone property management company will maintain your rental property on your behalf. This could involve regular maintenance such as cleaning in between tenancies, redecorating as appropriate, and organising all regular safety checks such as Gas Safety and EICR certificates. Some property management companies offer more, such as furnishing the property ready to rent or carrying out renovations.
Emergency situations: When you rent out a Marylebone property, you need to be ready for the unexpected to happen. Burst pipes, broken locks, and other emergencies are some of the many reasons why your tenants might need immediate help. With a good property management company Marylebone, you can rely on them to deal with these issues for you – no more being woken up late by a frantic phone call.
Legal situations: There’s always the risk of legal trouble as a landlord, whether you are being accused of something you didn’t do or trying to get a tenant who’s not paying rent to move out. A good Marylebone property management company can take the helm with all legal matters, ensuring that things run smoothly and you’re in with a better chance of getting the outcome you were hoping for.
Finding the Ideal Marylebone Property Management Company for You
Working with a property management company in Marylebone can make all the difference to your rental property income and success. Work with a company that has a strong reputation for managing properties like yours in the Marylebone area. Before choosing your ideal partner, consider which services you’ll need and which you are happy to do yourself. Marylebone property management firms offer a range of packages from basic services to full management, which only requires you to sit back as the money rolls in.
Do you need help with managing your Marylebone property? Whether you’re a seasoned landlord or a new investor, UpperKey can help. Contact us today to learn more about our property management services in Marylebone.