0207 1234 152
Property search >
menu
close

Author: admin

Categories
Uncategorized

Asset management vs property management

Buying an investment property comes with an added responsibility to the Landlord to maintain, manage and monetise. This requires a lot of effort, time and expertise which is why many Landlords engage a third party to help manage the investment. When seeking help with their property portfolio there are two types of services which a landlord may require – asset management and/or property management. If you’re a new Landlord or have a growing portfolio, you’ll need to know the difference between the two services.

Asset management refers to the process of maximising the value and return on investment of a property. This includes sourcing the highest and most consistent sources of revenue, minimising expenditure, and risk management. Asset managers are responsible for the general strategy of the asset and can also advise investors/Landlords on ways to grow their portfolio and suggest alternative profitable ventures.

On the other hand, property management refers to the overseeing of daily operations of the property on behalf of the owner. Alongside working closely with the property owner, a property management firm will also need to work closely with the tenants, acting as a representative of the Landlord. They will be the tenant’s first port of call, dealing with any noise complaints, maintenance and repairs, and any legal issues.

Landlords may seek to hire property management firms for various reasons, including if they don’t have the expertise or time to maintain rental properties, or deal with tenants directly. This is especially true for landlords who have multiple rental properties in their portfolio.

Although asset management and property management are two different services, it’s not uncommon for Landlords to seek both. Phillips Harrod are residential experts in London’s prime real estate who offer a multitude of services, including both asset and property management. To find out more about how Phillips Harrod can help you manage your portfolio, get in touch.

Categories
Uncategorized

St John’s Wood: the perfect location for High Net Worth Individuals

Situated in NW8, St John’s Wood is a tranquil, affluent village which has emerged as one of London’s most active prime markets over the last few years. In spite of its close proximity to the West End, St John’s Wood has still managed to retain a genuine feel of community and togetherness.

 

Reported in a 2008 survey conducted by Westminster Council, St John’s Wood has one of the lowest housing densities in the borough, allowing for larger houses with large gardens, making it no surprise that the area has attracted an influx of high net worth individuals. It’s noted that the average garden size in St John’s Wood is nearly nine times larger than neighbouring Mayfair.  However, it’s not just the size of the houses that have attracted HNWIs, the plethora of boutique stores, restaurants, great transportation links and the aid of an American school have also proved appealing to expats and those looking to relocate to London.

 

To view some of our favourite properties currently on the market in the gorgeous, leafy area visit here.  You can also discover more information about St John’s Wood and surrounding areas via our area guide.

Categories
Landlords

Top tips for first time Landlords

1) Understand the market

The rental market is a labyrinth, and comprises many different segments, each with their own nuances. Before you dive in headfirst, it’s incredibly important to ensure you’ve done extensive research into the lettings market and the area. You want to understand the best strategy for your property, how you can maximise your returns, and what contract terms are suitable for you and your property.

 

2)  Ensure that your property complies with legal requirements

There are many legal requirements that come with being a Landlord and these may differ depending on the area your property is located in. One thing which is a definite no matter where your property is based is safety!  It’s important to know smoke alarms are required on all floors of your property and it is the Landlord’s responsibility to make sure carbon monoxide detectors are installed in any room where solid fuels are burnt (such as wood, coal or biomass). These need to be tested and working prior to the first day of the tenancy.  Copies of the EPC, Gas Safety and Electrical Certificates must be up to date and given to Tenants. In some areas you may also require a Landlord License to earn rental income from your property, so make sure to do your research beforehand to avoid any penalties later down the line.

3) Get your property “rental ready”

Preparing your property for the rental market isn’t just about having great imagery and videos, it’s also thinking about whether you want your property to be furnished or unfurnished.  If the property is furnished you’ll want it to be modern and stylish, and may want to seek the help of an interior designer or stylist.  Once the property is photo ready, ensure you’re promoting its key features and attributes such as transport links, parking, a south-facing gardens etc, which will make your property more desirable to tenants.

4) Carry out regular inspections – with permission

It’s advised to regularly inspect your property, however, legally you can only enter with the Tenant’s permission. It’s recommended to give your Tenants at least 24 to 48 hours written notice before carrying out an inspection – and this should be highlighted in your Tenancy Agreement.

5) Consider hiring trustworthy letting agents or a property management company

Becoming a Landlord can be a profitable venture, but can also become overwhelming and timely. It’s often advised to hire Letting Agents or a Property Management company that can ensure all the legalities are done for you, and who will deal directly with Tenants so you don’t have to.  Choosing an agent with a proven track record of letting and managing property in your area and one regulated by a respected industry body is key.

 

To find out more about why Phillips Harrod is the right choice for you, read here.

“Phillips Harrod uniquely stands out!  They make me feel as a valued customer. PH’s team keeps providing me with reliable and efficient 24/7 service. I highly recommend their services.” – Mrs MF Property Owner/Investor, NW London

Categories
Landlords

Three advantages of hiring lettings experts (for landlords)

There’s an ever-growing web of do’s and don’ts in the residential rental sector, especially when you’re a landlord – or are considering making some extra income by becoming one. This is why hiring a property management company, especially one that specialises in lettings, is incredibly advantageous to both new and experienced landlords to take care of your property, tenants and the legalities behind them.  We’ve listed three great reasons as to why hiring a residential rental company can be a profitable move for landlords.

1) To increase your rental yield

A vastly experienced lettings department will specifically understand the rental market. Using industry knowledge and strategies focused on long term tenancies and goals, they help to increase your rental yield, whilst doing all the hard work and maintenance for you.

2) To maximise your property portfolio

With years of experience in the property market and servicing landlord’s needs, rental experts will have extensive knowledge on the most profitable areas and properties, helping you find new and proven opportunities to capitalise on.  Asset Management is a service which most rental agencies provide, helping you to grow your property portfolio and increase your returns, whilst ensuring minimal risk.

3) Better screening of Tenants

Rental experts have access to thousands of clients who they will have provided in-depth credit checks on, ensuring that the chances of taking on responsible tenants is as high as possible. Not only is a tenant who pays their rent on time and takes care of a property important for the landlord, but it’s equally as important for the property rental company as well so you can be rest assured that you’re in good hands and don’t have to fret about late paying or poor quality tenants.

Are you a landlord looking to grow your property portfolio in London, or need some assistance in finding the right tenants for your property?  Phillips Harrod are residential experts in London’s prime real estate, with extensive experience in London’s rental market. To find out more about how we can help you, contact us.

Categories
Uncategorized

Celebrating seven years in business: “We achieved what we set out to do”

As we celebrate seven incredible years at Phillips Harrod we sat down with founders Simon Harrod and Adam Phillips to discuss opening one of London’s first rental market agencies and their greatest achievement to date.

How did you both meet?

Simon: Funnily enough, we met each other over 25 years ago playing football. Our relationship grew stronger in early 2005/ late 2006 when we began working opposite each other, closing deals together in the property firms we worked for. Acknowledging that we were both driven individuals who had extensive knowledge in the property and rental market, in 2015 we decided to join forces and fulfil our ambition of opening one of London’s first agencies specialising in servicing the rental residential market in prime and super prime locations. We haven’t looked back since!

What do you believe your/the company’s greatest achievement has been so far?

Adam: For me, It’s not about the largest deal we’ve closed. Our greatest achievement is doing what we set out to do – becoming market leaders in our niche and building a reputable agency. 7 years later and we’re still closing deals, building our team, helping tenants find their dream property, expanding our services and growing our landlords’ portfolios.

Simon: Exactly, if you think about all the negativity and hurdles surrounding the property market, especially with the pandemic, recession, inflation rates and Brexit, to still be thriving 7 years later is a massive accomplishment and something I’m truly proud of. A deal is a deal, but we are building a legacy and have built an agency where our clients trust us and feel well and truly supported.

What do you think the future looks like for Phillips Harrod?

Adam: As we continue to grow and nurture the rental side of the business, we’re aiming to develop and branch into the sales side as well. Although we are rental experts at heart and will continue to nurture this service, we have extensive knowledge and experience in selling properties. We’ve noticed a demand from our current Landlords who are looking to sell some of their properties, but want to use agents they trust and have a rapport with; to help meet this demand we’ll be expanding our selling service this year.

In addition to sales and rentals, in 2022 we’re also offering clients a bespoke opportunity to invest with us on a buy to let opportunity. Using our expertise we help clients locate and invest in properties that have a high return on investment, renovate them and put them on the market to let. This is a service we’ve been working on for a while now, and are truly excited to implement this year.

Simon: Beyond expanding our services, for me personally, stability is key for our future. I want to build upon what we’ve already achieved, concentrating on what we do best. We’ve already established ourselves as reputable rental experts, but I want us to continue to establish ourselves as market leaders in the areas we operate in whilst continuing to grow our team. Given how 2021 went, the future is looking very promising!

Phillips Harrod are prestigious market experts in London,
to find out how we can help you on your rental journey

contact us.

Categories
new

2019 Annual market summary from Phillips Harrod

London’s Prime rental market remains strong and next year looks to be even better.

Uncertainty around the UK’s planned departure from the EU and the stability of the government is causing families to rent instead of buying properties in London.

If summer 2019 was anything to go by we are expecting another busy year ahead. “With such major changes in the global political spectrum over the past 12 months, many feared a huge impact on the prime residential market. As London’s leading super prime rental agents we are proud to have worked on some high profile deals in the St John’s Wood area further cementing our profile in the area. “It’s been a challenging period but the corporate rental sector has remained strong given the stability provided by the ex pat community. With the pull of great international schools London and in particular St John’s Wood remains a firm favourite with incoming families” says Phillips Harrod Co-Founder Simon Harrod

Mansion Global recently published an article saying Super-Prime Rentals in London Reached Five-Year High in the Second Quarter 2019. A lack of stock in the sale market is helping sustain rental prices in prime London locations. It’s surely no surprise that in a stressed market, the highly desirable prime property heartlands – Mayfair & St James’s, Knightsbridge & Belgravia and Kensington, Notting Hill & Holland Park – will continue to attract people. As well as retaining their attraction for buyers, lack of stock is playing a particularly powerful role in providing a floor under prices – in these areas there is between 18% and 28% less stock available on the open market compared to 2018. (Stats are according to a recent Coutts survey)

Since April this year – to now, Phillips Harrod have really made a stamp on the super prime market In St. John’s Wood, Regent’s Park and surrounding areas.

Market analysis shows we have completed a sizeable amount of deals giving us a good proportion of the market share for the previous 6 months in the super prime properties rented which have ranged from Regent’s Park stucco houses to ambassadorial detached houses.

 

 

 

 

 

 

 

Market analysis has shown that we are the third highest performing agent in the lettings super prime market in London in 2019.

US tenants looking to rent in prime London have greater spending power thanks to the weakening of sterling. It calculates that a renter with a weekly budget of £5,000 has seen this grow to more than £6,000 since the EU referendum in June 2016 (According to a recent report by Knight Frank)
Demand from US tenants has increased in Notting Hill and St John’s Wood thanks largely to the quality of schools in these areas. Philips Harrod successfully rented a highly sought after property on Clarendon Road in Notting Hill to a family looking for a house close to a great school.

 

 

Phillips Harrod Co-Founder Adam Phillips closes this years report by adding “With the markets vulnerability and uncertainty I think more than ever landlords and tenants need to feel supported with their decisions which is where us as some of the most long standing independent agents in the area are of a real comfort giving the appropriate guidance, we feel this in the conversations we have and in particular the referrals that existing clients and tenants provide us with”

Categories
new pro first

Phillips Harrod high end prime rentals

Phillips Harrod adjust to the rental market change since brexit and still remain at the forefront of high end luxury rentals in Londons most sought after areas.

View some of our properties

Categories
Properties

A selection of new properties coming to the market

Welcome to our new bi-weekly property digest, where we bring together the best properties for rent and sale that we’ve unearthed across prime locations in London. This week’s collection of gems includes an architecturally designed modern townhouse on the doorstep of Hampstead Heath and a superb six bedroom house situated close to Hampstead station.

 

North End, Hampstead, NW3

North End

This architecturally designed modern townhouse of 3243 sq ft combines luxury living alongside state of the art green technology.  Boasting a bright, modern interior, the property is split over four levels with four bedrooms and a large reception with bi-folding doors which open out to a beautiful split level courtyard and garden. Take a look here.

 

Norrice Lea, Hampstead Garden Suburb, N2

This superb six bedroom detached family home has been newly refurbished to offer spacious accommodation over three beautiful floors. The first floor comprises a master bedroom (air conditioned) with an en-suite bathroom including a luxurious walk in shower cubicle, a large double bedroom with en-suite bathroom, two further double bedrooms, as well as a family bathroom. The second floor comprises two double bedrooms both with en-suite bathrooms).  To see the property in full, view here.

 

Gloucester Avenue, Primrose Hill, NW1

Gloucester Avenue

Situated on the first floor of a converted railway warehouse, this stylish and unique three double bedroom apartment sits in the heart of Primrose Hill.  Comprising a very spacious reception/dining room with wooden flooring, a modern fully fitted kitchen with integrated appliances, a master bedroom with en-suite shower room, two further double bedrooms and family bathroom, this property has been finished to an excellent standard throughout. For more information, click here.

 

Hamilton Terrace, St John’s Wood, NW8 – FOR SALE

Hamilton Terrace

This exquisite, newly refurbished two bedroom, two bathroom apartment is set on the first floor of a stunning period conversion in Hamilton Terrace.  Featuring two picturesque balconies, beautiful wood flooring, high ceilings and an abundance of natural light throughout, coupled with top of the range appliances and high end finishes, this is the perfect two bedroom apartment where you don’t have to compromise on location. You can find out more details here.

Categories
new pro first

Phillips Harrod offer 2 exclusive properties on London’s Famous Hamilton Terrace

Phillips Harrod are sole agent for a magnificent 5 bedroom Georgian House in the London’s highly sort after Hamilton Terrace, St John’s Wood. We are also joint sole agents for a Grade II listed Georgian House on the same street. Appearing in June edition of Fabric Magazine. For full info please click on link below

https://phillipsharrod.com/uploads/2016/03/Phillip-Harrod_proof_
v4.pdf.

Categories
new pro first

Support A Great Cause and Phillips Harrod Director, Simon, in his London Marathon Charity Challenge

On the 23rd April 2017, Simon Harrod will be swapping his suit for running shorts as he completes the iconic Virgin London Marathon. The famous course runs over a distance of 26 miles and 385 yards throughout the finest sights of London and is considered one of the top six marathons in the world.

While many of us would quake in fear of the blisters, burns and muscle soreness, Simon is putting himself through the paces as he raises money for the wonderful and well-deserving charity; Rays of Sunshine Children’s Charity.

Rays of Sunshine work hard to make the wishes of seriously ill children in the UK to become true. From personal wishes for children to a treat for a whole hospital ward, Rays of Sunshine host a wide range of events such as large outings, concerts and all sorts of magical wishes as they believe every child deserves a precious memory to cherish.

As wishes are as individual as the child themselves, all donations, whether big or small, can really help to make a difference. By sponsoring Simon’s epic plight, you can support Rays of Sunshine’s work to grant their 6,000th wish and many more afterwards. With over 49,000 children living in the UK with a serious of life-limiting illness, your donation and Simon’s efforts can make all the difference to making more children’s dreams come true.

Sponsoring is easy, and you donate to Simon’s marathon challenge by following this link: http://www.justgiving.com/owner-email/pleasesponsor/Simon-Harrod

We wish Simon all the best for the London Marathon and know that the difference he’s making to the charity will keep him fighting all the way to finish line.

Good Luck Simon!

phillips

REQUEST A VALUATION

    PLEASE SELECT THE PURPOSE OF VALUATION:

    SALE

    RENT

    BOTH







    CLOSE

    close