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Tenants are asking for longer minimum periods, claims agent

Boutique London agency Wilfords which let 150 properties last year in London, says tenants at the top of the market are staying for longer.

Sheila Manchester

“It’s been a very exciting start to the year in London” says London estate agent Wilfords which has begun 2020 with a significant letting of a splendid and historic property in Paddington Basin.

The Boatman’s Institute dates back to the 1800s and is a fantastic fusion of old and new with a stylish interior and a very high-spec finish. The home has now been let on a long-term lease.

Wilfords, who secured close to 150 lets in 2019, with landmark deals, also see a trend for tenants and landlords wanting longer-term commitments with several 24 month tenancies already agreed.

This exciting deal is one of the latest in a run of successes in the lettings department at Wilfords whose biggest ticket deal was a £2,995 per week house on Courtnell Street and they also secured a record price on an apartment at 17 St Pancras Chambers, a historic, fascinating building in bustling Kings Cross.

The firm is currently working on an extensive and diverse portfolio, which includes two-bedroom apartments priced at £2,300 per week, located at The Knightsbridge and above the Design Museum in Holland Green Place, Holland Park.

Simon Welfare Co-Founder at Wilfords, said, “It’s been a very exciting start to the year here and increasingly we are finding that properties are letting in record times, achieving or exceeding asking price. Our local knowledge and personalised approach to customer service has ensured multiple repeat clients.

“Our property management arm has also seen an upward trend with 40% of landlords using this service. We believe this more people are taking advantage of this opportunity to own a BTL property with minimal hassle in the light of further legislation being introduced.”


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February 19, 2020

One comment

  1. I don’t believe this frankly!
    A survey by Carter Jonas [published today] reveals the top 10 wishes of tenants.
    Longer tenancies, an electrical certificate or a detrimental possession process to evict those that don’t want to pay their way, isn’t amongst Tenants Top 10 – strangely!
    This isn’t hard to understand when the EHS puts average tenancy length at over 4 years, and the longest on record, at a time when Govt are pandering to Tenant support groups, instead of actually what tenants want.
    By the way, I mean all tenants, not just the biased selection of the PRS by Govt – whether it’s because of their guilt for not building – providing – enough housing themselves, I’m not sure.

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