Property News: Coping with longer tenancies

It’s been a busy first quarter for Paramount as we’ve made some major changes to how we manage properties. As the length of the average tenancy increases and the private rented sector becomes a long-term housing solution, we have to adapt to ensure procedures such as inventories continue to be fair.

In order to combat the lack of knowledge about a property that the shift towards longer tenancies presents, we need to take a proactive and preventative approach to property management. It’s the only way we can protect a landlord’s asset over a long tenancy. We now offer landlords a regular audit of their property during the course of any tenancy which will allow us to spot minor problems before they escalate, such as old water stains from previous leaks or deteriorating wooden windows, ensuring minor issues are identified and fixed long before they become an issue for tenants or landlords.

We will be enlisting an independent inventory company to provide this service at a cost to Paramount. Inventory clerks are trained, property-savvy professionals who are able to spot small issues before they become big problems. By using an independent, impartial and professional inventory company instead of our in-house management team, landlords will know that all listed works will be recommended. In keeping with our ethos, the inventory company we will be using are an independent family owned business who we have worked with for many years.

As tenancies get longer there is no doubt that letting agencies need to adapt it order to meet the challenges this change presents. It’s a topic we think a lot about and we will continue to find innovative ways to improve our service inline with these changes.

Agents Giving

We are thrilled to have been named Fundraising Champions for the second year running by ‘Agents Giving’, a charity that encourages and supports agents to raise funds for established and recognised charities in the UK.

We all become blinkered sometimes to what is going on outside of our own world. I believe that it is important to help people first hand in order to see what’s going on inside our local community as well as donating and fundraising for charities like Agents Giving. We’re proud to have been named Fundraising Champions for the second consecutive year, but the real reward is seeing first hand how charities like Ashford Place and Thames Reach improve the lives of others.

Talking of charity leads us nicely onto…

Brent Foodbank
Brent Foodbank, located between Kilburn and Willesden Green, urgently need supplies to donate to those in need in our community. Paramount is working with Brent Foodbank as a donation drop-off point; this means you can donate any non-perishable food items and toiletries six days a week at our office, 150 West End Lane, which we will then deliver to the centre.

Each week we’ll let you know on Twitter and Facebook what the Foodbank needs the most. This week toiletries are in high demand, so if you’re able to donate shower gel, toilet roll, soap, toothbrushes or shampoo please drop them into our office.

Spencer Lawrence
Lettings Director
Paramount Properties
150 West End Lane
West Hampstead
020 7644 2314

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  • EM

    Was expecting to read about West Hampstead property news but all i got was a paid advert – what gives??

  • AB

    Whilst I don’t necessarily object to articles like this – sponsorship is useful, and it is fairly local and so justifiable – it needs to be much more prominently headlined that it is a commercial, paid-for advertisement. Please change this in future.

  • Thanks for the feedback so far on this post. We try to vary the content with each post but next time we will stick to property news and market commentary. If there’s an aspect of the Lettings market you’d like to read more about though, please get in touch.