SHORTAGE OF KNIGHTSBRIDGE AND KENSINGTON RENTAL PROPERTIES CONTINUES IN CENTRAL LONDON
The shortage of rental properties in Knightsbridge and Kensington is showing no signs of abating, according to Benham and Reeves Residential Lettings, London's largest, independent lettings specialist.
(prHWY.com) November 16, 2011 - --, AZ -- The shortage of rental properties in Knightsbridge and Kensington is showing no signs of abating, according to Benham and Reeves Residential Lettings, London's largest, independent lettings specialist. After a busy summer, with wealthy international students snapping up most smaller apartments, the letting agent's Knightsbridge office is being flooded with enquiries from young professionals about lettings in Knightsbridge and Kensington.
According to Marc von Grundherr, Lettings Director at Benham and Reeves Residential Lettings, which has nine London lettings offices, demand from tenants continues to reach new highs. He reports: "In Knightsbridge, enquiries about one bed apartments in the £400-£600 price bracket and two bed properties at £650-£850 are red hot. High demand is pushing up rents, which have risen by an average 10% in the last year. For example, a two bed conversion apartment in Hans Crescent which we let last year for £1000 per week has just been let to a new tenant for £1150 per week."
"With the influx of professionals looking to rent an apartment in Knightsbridge continuing, we're short of smaller properties and looking for new stock. Our tenants work for top international organisations and have healthy budgets so they're the most reliable type of tenant you can find."
Free property management offer on new instructions in SW3, SW7, SW1 & W8
With demand so high, Benham and Reeves Residential Lettings is keen to receive new instructions from landlords with properties in these sought-after areas. So until the end of January 2012, both our Kensington and Knightsbridge lettings branches are offering three months' free property management on all new instructions in SW3, SW7, SW1 and W8.
"The story is similar in Kensington, with demand at an all time high, although we have seen a tightening of budgets as executives wait to see what the next few months holds for jobs in the City." continues Marc. "There is some uncertainty and some tenants have been downgrading budgets to take this into account. But they are still demanding when choosing a rental property. While most are flexible when it comes to location, they are taking their time when choosing a property. They're usually seasoned negotiators and some are putting in offers with several agents for maybe three properties - they just wait to see which landlord accepts their offer first."
"Tenants can be quite fussy - if the apartment is in a block they prefer to have a porter and if is above the first floor they definitely want a lift. They expect a high quality finish with luxury bathrooms and kitchens so we would urge landlords to make sure they keep their property in good shape to make sure it appeals to the calibre of tenant they want to attract."
"Around 95% of companies insist their executives rent a professionally managed property," says Marc. "With many landlords based overseas, there's even more need to use a property management specialist experienced in the legal and health and safety complexities involved in letting a property in London."
"Our Property Management department simplifies the process, handling everything from the legalities of letting a property to providing a round the clock emergency repair service. And with offices in Hong Kong, Singapore, Dubai and India (in addition to our nine central London offices), we are uniquely placed to talk to overseas investor clients in their own time zone, wherever in the world they are based."
To find out more about property leasing in London contact Benham and Reeves Residential Lettings, which handles residential lettings throughout London, go to
http://www.brlets.co.uk
Press enquiries:
Tracie Lack
Tel: 020 7433 6675
brmarketing@brlets.co.uk
Editor's notes:
Established in 1956 in Hampstead, London, and now with nine offices in the prime residential areas of London, (and overseas offices in Singapore, Hong Kong, Dubai, Delhi and Mumbai), Benham and Reeves Residential Lettings is recognised as one of London's largest, specialist lettings and property management agencies. To complement this, they also provide an interior design, refurbishment and furnishings service for London rental investment properties to landlords based worldwide.
Media Contact Details
Name: Tracie Lack
Company Name: BR Lets
Telephone Number: 020 7433 6675
Email: brmarketing@brlets.co.uk
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