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OK, so good marketing might not sell your house, but it will make the phone ring and the email enquiries come through. Good quality marketing is more important now than it ever has been, with the vast majority of buyers and tenants using the internet to conduct their property searches.
Like you, we spend lots of time looking through online portals such as Rightmove, Zoopla and Prime Location to keep up to date with new properties in the area. And again like you, we keep spotting the same properties still on the market for months at a time.
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For us, Property Management should be simple.
That isn’t to say that we’ll do the bear minimum to make our own lives easy, what it means is that if you apply some common-sense to property management, the process becomes much easier.
From experience, we know the one thing that annoys both tenants and landlords the most is poor communication. At Proper Local we’re not scared of the phone, we like to talk, and we always return emails promptly. The simple fact is that bad things do happen in a tenancy, things do break down, but we also know that if you’re kept updated (both landlord and tenant) then you’ll be assured that it’s going to be resolved.
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OK, so this is a particularly bad picture, and in all my years as an estate agent I haven’t witnessed property damage even remotely close to what you see here, but… having a bad tenant can devastate your investment if things turn out for the worse.
We’ve prepared this short guide to give you some pointers if you ever find the need to evict a tenants.
Don’t take matters into your own hands – breathe deeply, relax (as much as you can) – make a promise to yourself that that you’ll use the law & logic, not anger and emotion.
Don’t go all macho and try to throw them out of the property yourself, or cut of the electric or gas.
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We all know that Canary Wharf, and the E14 area in general, is going through a period of unprecedented change right now, but are you actually finding it difficult to rent your property?
Whilst we have written this article with the E14 area at the forefront of our minds, we do believe it contains advice which is transferrable across different sets of market conditions and geographical areas.
1. Excessive stock levels mean everything is taking longer to let
We’ve worked in all kinds of rental markets over the years, in different geographical areas across London, so whilst we’ll stop short of saying that we’ve seen it all, we have seen a fair bit.
When any large new development completes there are always those landlords that get ‘lucky’ and rent their property very quickly, but by the same token there are always landlords that get unlucky and it takes longer for their property to let. And often there’s no particular reason why some properties take longer than others – its purely down to over-supply of a particular unit type in a distinct geographical location.
Supply is one of E14’s biggest problems right now, particularly an over-supply of two bedroom apartments, but it will rent eventually. Let’s put some numbers behind it so you can see where we’re coming from.
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Ask most people why Canary Wharf would be good place to live and you’ll probably find that most say:
“I guess it would be convenient for work if you worked there.”
Yes, Canary Wharf is London’s key financial district and of course yes, it would be the most convenient place to live if you work there. All rather obvious really, but it’s what most people think.
However, as proper locals we know there’s a bit more to the Canary Wharf than the glass and steel that first meets the eye…