Trend watch: families renting in London
26th July 2019
26th July 2019
When you think of London lets, it’s easy to think of Millennials and city professionals renting either small studios or one-bedroom apartments. The West End and surrounding areas, however, are just as appealing for families, particularly St John’s Wood, Maida Vale, Hampstead, Primrose Hill and Regent’s Park, where open, green spaces and excellent schools sit cheek by jowl with Tube stations and offices.
A rise in families renting
Figures from the latest English Housing Survey showed that the number of households renting privately has risen by 74% in the past ten years (2006 to 2016/17), with the number of families in private rented accommodation rising significantly. While there were just 800,000 families in rented accommodation in 2006/7, this had risen to 1.8 million by 2016/17.
Renting privately is a sensible housing solution for families, many of whom find themselves in the capital for business, pleasure or first-class schooling. Renting affords a more personal, homely environment than hotels or serviced apartments, with the chance to join a ready-made community and gain the flexibility to move on, should circumstances change.
Would your property make a good family let?
If you have a larger property with more than two bedrooms, its London location will not be a barrier to a successful let - on the contrary. Behr & Butchoff often holds waiting lists of families looking for spacious yet central houses to rent. If your property ticks these boxes below, the chances are we have a family waiting:-
Close to well-regarded schools
Good transport links
Near to family-orientated amenities
A private garden
Annexe or au pair’s quarter
Schools are always in
Recent figures show parents spend considerable sums of money to ensure their children get into the right school, with research by confused.com revealing that being within close proximity of a good school can add as much as £100,000 to a property’s value. This premium also transfers to the rental market, affording landlords with lets in popular school catchment areas - or close to international or independent schools – the opportunity to benefit from higher yields.
There are a plethora of respected schools in the London boroughs we cover and a few highlights include:
The International Community School (ICS), across three sites in Marylebone and Paddington, for children aged 3-18 years
The American School in London, St. John’s Wood, for children aged 4-18 years
Southbank International School of London, with sites in Hampstead, Kensington and Westminster, for children aged 3-11 years
Wetherby Preparatory School, Marylebone, for children aged 2.5-13 years
Connaught House School, Hyde Park, for children aged 4-11 years
King Alfred School, Hampstead, for children aged 4-18 years
Abingdon House School, Regent’s Park, for children with specific learning needs aged 5-17 years
‘Outstanding’ rated state schools
The Grey Coat Hospital School, Pimlico, for children aged 11-18 years
The St Marylebone CofE School, Marylebone, for children aged 11-18 years
Portman Early Childhood Centre, Westminster, for children up to 5 years old
Westminster Academy, near Westminster, for children aged 11-18 years
Paddington Academy, Maida Vale, for children aged 11-18 years
If you are considering marketing your rental property to families or are thinking of renting out your own home, please contact Behr & Butchoff for advice on making your home most appealing to families.