Why Location Is Key to Seeking Higher Rents
There is no denying the success of the popular TV show, “Location, Location, Location” drummed home the importance of where a property is located for house buyers. The same can be said of the rental market, with the location of rental property impacting both landlords and tenants.
Landlords should weigh up a lot of things when considering where to invest in rental property, but the elements associated with the property location are crucial. Regardless of how stunning the property is, if it is in an undesirable location that no one wants to live in, there will be limited demand for the rental property.
If the property is in a location with no local amenities, demand will be low.
Therefore, the location of rental property is crucial, and it plays a key role in helping landlords achieve higher rents.
Schools in an area affect what tenants are willing to pay in rent
As with the housing market, local schools affect what tenants are willing to pay. If a property is in the catchment area of a desirable school, it stands to reason that tenants will pay more to ensure their child or children accesses a well-respected school.
In and around NW10, NW2 and NW6 you have a number of well-regarded schools.
More than 40 local primary schools often mixed-age group schools. You will also find around 15 secondary, sixth form and educational establishments within easy reach. This should ensure that a family can see children go from start to end in the local educational system.
Examples of reputable schools in the area include Queen’s Park Community School, located on Aylestone Avenue, and St Augustines CofE High School, on Oxford Road. This school has been rated as “Outstanding” by Ofsted.
Transport links make an area more desirable
If an area has reliable transport links, it increases the number of people willing to stay in the area. This sees demand rise, and this leads to higher rental fees.
The following Underground and Overground stations are in easy reach of the local area; Brondesbury Park, Brondesbury, Neasden, Dollis Hill, Willesden Green, Willesden Junction, Kilburn, Kensal Rise and Kensal Green.
From Willesden Green, it is possible to reach destinations such as Waterloo Station, London Bridge and Financial hub - Canada Water within 30 minutes and Bond Street Station on Oxford Street in less than 15 minutes.
While we are adapting to remote working, there will always be a need for people to move quickly to and from the heart of the capital. The location of Willesden, and surrounding areas, makes it a fantastic choice for commuters, and households who enjoy the best of both worlds.
Other features that matter for prospective tenants include:
- The abundance of local shops, and the type of local shops
- Open spaces and park areas (important now more than ever post covid19 lockdowns)
- Clubs and community groups/proximity to family and friends
The type of tenant you are looking to reach might have a preference for local amenities. If this is the case, you should look to invest in an area that appeals to your ideal type of tenant.
However, if you find an area where the right sort of local amenities appeal to your chosen tenant, you can achieve higher rental fees.
If you are interested in our lettings or property management services or you are looking to buy, sell, let or rent property in or around Willesden, Dollis Hill, Neasden or any other part of North West London, call us on 020 8459 2530 and a member of our estate and letting agent team will be happy to help.