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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.

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.

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.