The top 5 property management services Londoners need in 2024

The top 5 property management services Londoners need in 2024

0:02 AM, 7th February 2024, About 2 months ago

Text Size

Londoners looking for property management services in 2024 should pay attention to the latest trends and insights from SBA Property Management.

The provider of property management solutions says it has identified the top five service areas that will be most sought-after by landlords and customers this year.

A director of the firm, Tim Darwall-Smith, said: “The property management industry is fast-moving, with constant shifts in demand from customers.

“Recent updates to safety regulations have led to increased demand for site inspections and repair work, so it’s no surprise to see these being two of the most highly sought-after services in 2024.”

He continued: “Strong rental demand in London looks set to drive an increase in demand for tenant screening services, while the recovery of the construction industry and high demand for fire safety remediation work will continue to have a big impact on the industry this year.

“To gain a competitive edge and continue to grow their portfolios, property managers must keep their service offering relevant and flexible this year.”

Property management services in London

Based on research and data analysis, these are the top five property management services that will be needed this year in London:

  • Building inspections: As a result of new health and safety reforms, landlords, RMCs and other ‘responsible persons’ need to inspect their properties more frequently. Searches for this service in London increased by an average of 19.67% year on year over the last three years, making it the most popular service area in 2024.
  • Maintenance and repairs: Keeping a building in good condition is a vital part of property management, regardless of external factors. Demand for this service in London rose by an average of 19.33% year on year between 2020 and 2023, making it the second most popular service area in 2024.
  • Tenant screening: The rental market in London is tight, with fewer options and higher rents for tenants. This may explain why demand for tenant screening services increased by an average of 13% year on year over the last three years, making it the third most popular service area in 2024.
  • Major works: Large-scale construction projects are expected to be in high demand in 2024, following the recovery of the construction industry after the pandemic and the introduction of the 2022 Building Safety Act. Searches for this service in London grew by an average of 7.33% year on year between 2020 and 2023, making it the fourth most popular service area in 2024.
  • Fire safety compliance: Landlords and RMCs have to ensure their properties are safe for occupants, following the introduction of the 2022 Building Safety Act. Searches for this service in London grew by 5.67% year on year over the past three years, making it the fifth most popular service area in 2024.

Share This Article


Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now