While Brexit rumbles on and the housing market is supposedly suffering a downturn, London is still proving an attractive proposition for property buyers, especially those wanting a second home in prime areas of the capital.
An article in The Times from March 2019 highlighted the sharp increase in Brits wanting a pied a terre in central London, either for the convenience of having fine dining, top theatres, and galleries on their doorstep, or for investment and inheritance tax-planning reasons.
The great news is, they’ve got plenty of choice. At present, almost 60,000 homes in London are empty, with nearly 1,300 vacant addresses in Kensington and Chelsea alone.
But with many second home owners living outside London, and perhaps only visiting occasionally, there are a range of factors to consider before stumping up the cash…
One of the most important things to consider is the upkeep of the home. Vacant properties can suffer from a number of problems, including dust and dirt accumulation, the security of the home with no one living in it for extended periods, unpaid bills, and even the prospect of squatters.
You might recall film director Guy Ritchie’s Fitzrovia-based properties getting taken over by squatters in 2011 and the difficulties he had in removing them via legal means – all of which is a costly and laborious process. A property management service may seem like an unnecessary service, but with weekly check-ups of the property, it can protect your home from squatters and nip these problems in the bud before they become a major headache.
It’s also important to keep houses in good working order. Key utilities such as gas, electricity and water, plus the plumbing, can all be affected by seasonal changes and create bigger problems if unattended. Hiring a residential property manager can address any issues as they arise with the minimum of fuss and cost. And if it’s simple as ensuring the Wi-Fi is on, or the cooker needs fixing, that’s one less hassle you can do without on those precious times you are in town.
Your own concierge
What can often make the difference when you arrive at your home-from-home is the little details: a well-stocked fridge with your favourite drinks, a home that’s set to your desired temperature, clean laundry and some fresh flowers. Whatever your desire, a property manager can ensure you feel right at home from the moment you step foot in the door.
So whether it’s a primary residence, a tenanted property, or a pied a terre in Mayfair, why not find out how Gore Property’s team can meet your home management needs – and let you get on with the fun stuff when you’re in town.