Top Ways a Property Management Company Can Help with Your Hyde Park Property
Do you own a property in Hyde Park that you want to let? Do you want to use a property management company but aren’t exactly sure of all the benefits they can provide? Property management companies are nothing new in the rental market, but that doesn’t mean everyone is familiar with the many services offer. Chances are you invested in your Hyde Park property with the assumption that it would be relatively easy to let, but that’s not always the reality. There is a lot to learn and know about letting a property, not just in Hyde Park, but in any location. So, let’s take a look at the ways in which a property management company can help you with your Hyde Park property.
Why It's Dubbed the Best Place to Live in the City
Before we even look at how a property management company can help, let's look at the many benefits of owning a property in Hyde Park. London is filled with different areas and neighbourhoods so, as an investor, the biggest question you need to answer is what demographic is right for you, and what you're willing to spend. Hyde Park is probably one of the wiser locations investors can pick, as this area is often dubbed the best place to live in the city.
When it comes to being a sought-after location, Hyde Park checks off all the must-have boxes. In terms of location, you can't beat it, since it is found in the middle of London. Hyde Park is part of the borough of Westminster and within Hyde Park are the Royal Parks of St James's Park, Green Park and Kensington Gardens.
If you're trying to appeal to tourists who want a mid- to long-term stay, the fact that they would be so close to Westminster Abbey, Buckingham Palace and Royal Albert Hall will be a huge selling feature.
Exploring Hyde Park Itself
Hyde Park, of course, gets its name from the park, which is made up of 350 acres of green space. Within the area is a 40-acre lake, as well as lush gardens and mature trees. While you're still in the city, it will feel like you've somehow managed to escape the hustle and bustle. Historical monuments and art are also placed throughout the park, making it perfect for strolling, biking, jogging or even in-line skating.
The School District Is Another Big Draw
If you're trying to attract families to your property, the fact that Hyde Park is such a notable school district with some of the top-tier primary schools will be a huge factor. The secondary schools are just as notable with some of the more popular ones being Francis Holland School and Westminster School.
University students will be nearby such institutions as the London School of Economics and Political Science and the University of London.
A Blend of Residential and Commercial
What makes the area unique is that, although it began as rural, it has now transformed to offer residential and commercial opportunities. It makes for a very balanced place to live, offering a variety of apartment buildings, townhouses and single detached houses. Over the years it has developed a reputation for being a very friendly area that is also quite safe. Safety can be a huge factor for tenants, especially those new to city living and who are feeling a bit nervous about it.
Let the Property Management Company Act as Your Tenant
But for all its many pros, letting your place in Hyde Park can still feel like a challenge. You still need to actively find tenants, ensure it never sits vacant and not price yourself out of the market. It’s a lot to take on, and if you’re a first-time landlord, you may not even be comfortable or aware of all the responsibilities that come with the job.
UpperKey is a Hyde Park property management company that is just as comfortable working with first-time property investors as those with extensive property portfolios. Property management in Hyde Park can be a straightforward experience for you, as it’s truly a sit-back and relaxed kind of approach.
The company will assess your property and then offer you a tenancy agreement for a set amount of time. This equates to guaranteed rent during that agreement. The property management company will be the one renting from you and paying you, and then they work on filling the property.
How Much Will It Cost to Use a Property Management Company?
One thing that may be holding you back from using a company such as UpperKey is the notion that the fees will be too high. Once you start to look at what's included in property management fees, you'll start to understand just how worth it the fees are. It’s about paying for peace of mind as Hyde Park property management and protection are fully taken care of by the company. The best piece of advice is to ask about the fees upfront so there are no surprises.
Breaking Down the Fees
So, what exactly are you paying for when using property management companies in Hyde Park? UpperKey offers an extensive list of services built into the tenancy agreement. The process begins with client vetting, something that is always recommended. This step alone can be cumbersome, so just imagine how big of a timesaver it is. You'll know that anyone staying in your place will be trustworthy and respectful, keeping the property in pristine condition.
All tenancy details moving forward fall under the umbrella of the property management company. This includes such things as cleaning, looking after gas and electricity contracts, routine maintenance and more.
Using a property management company is all about getting the help you need to ensure your property never sits vacant and you can charge top and fair market value. Your Hyde Park property is meant to be an investment property, so some basic steps and tips will help you achieve that.