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The 5 new types of tenant revealed, say east London estate agents

London's leading newspaper had a rental epiphany recently. It published a feature on lettings in the lifestyle section. Finally, being a tenant is being talked about as a lifestyle choice, rather than a sad consequence of not being able to afford to buy a property. East London estate agents like Winkworth have been tracking the shift in home mover status for some years now and the 2012 Olympics only served to highlight this part of the capital as a rental hotspot. In our own look at the five new types of renter, we look at the 21st century tenants on the trail of property to rent in east London. 1. The frequent travellers There is a new type of tenant who is the complete antithesis of the owner occupier looking to put down roots. With their passport firmly in their back pocket, this type of tenant works in London for a year and then takes flight for six months. And then they start the process again....and again. These renters are the professionals who have never grown out of the gap year, so short tenancies suit them perfectly. 2. The 'emerging area' chaser East London property hasn't always been the bastion of cool it is today. In fact it was a deeply unfashionable area up until the 1990s when the Young British Artists claimed east London as their own. There is a band of tenants on a constant quest to find the undiscovered, unexploited quarters of east London. Not motivated by capital appreciation or tied down by a mortgage, they're ahead of the curve and currently heading to Walthamstow, South Woodford, Wanstead and Dagenham. 3. The 'IT' Crowd In more ways than one, the IT crowd are intent on turning east London into an edgier version of Silicon Valley. Forget Old Street, the new wave of tech innovators are colonising Dalston, Bethnal Green and Haggerston. It's reported the IT crowd are using savings once squirreled away for a property deposit to fund new start-up businesses, so renting is part of their business plan as well as their lifestyle. 4. The 'on trend' renters New bar opening' Street food market planned' Pop up gallery on the cards' These tenants will go wherever it's at. Property to rent in east London gives urbanites the flexibility to follow the fashion, from Whitechapel to Brick Lane via Hoxton, Bow and Stratford. 5. The 'siphon off' landlord tenants A homeowner, a landlord and a tenant at the same time' Quite possible. Many young Londoners realise their money will buy them more property north of Watford, so they are using any saved deposit to buy a home in the North and then rent it out. The return can be so favourable that it easily covers the buy-to-let mortgage, leaving enough left over to siphon off and put towards a plush property to rent in east London. This strategy provides a long-term property investment and facilitates a freedom to rent in London.   If you are interested in east London property, contact one of Winkworth's east London estate agents offices today.

London's leading newspaper had a rental epiphany recently. It published a feature on lettings in the lifestyle section. Finally, being a tenant is being talked about as a lifestyle choice, rather than a sad consequence of not being able to afford to buy a property.

East London estate agents like Winkworth have been tracking the shift in home mover status for some years now and the 2012 Olympics only served to highlight this part of the capital as a rental hotspot. In our own look at the five new types of renter, we look at the 21st century tenants on the trail of property to rent in east London.

1. The frequent travellers

There is a new type of tenant who is the complete antithesis of the owner occupier looking to put down roots. With their passport firmly in their back pocket, this type of tenant works in London for a year and then takes flight for six months. And then they start the process again....and again. These renters are the professionals who have never grown out of the gap year, so short tenancies suit them perfectly.

2. The 'emerging area' chaser

East London property hasn't always been the bastion of cool it is today. In fact it was a deeply unfashionable area up until the 1990s when the Young British Artists claimed east London as their own. There is a band of tenants on a constant quest to find the undiscovered, unexploited quarters of east London. Not motivated by capital appreciation or tied down by a mortgage, they're ahead of the curve and currently heading to Walthamstow, South Woodford, Wanstead and Dagenham.

3. The 'IT' Crowd

In more ways than one, the IT crowd are intent on turning east London into an edgier version of Silicon Valley. Forget Old Street, the new wave of tech innovators are colonising Dalston, Bethnal Green and Haggerston. It's reported the IT crowd are using savings once squirreled away for a property deposit to fund new start-up businesses, so renting is part of their business plan as well as their lifestyle.

4. The 'on trend' renters

New bar opening' Street food market planned' Pop up gallery on the cards' These tenants will go wherever it's at. Property to rent in east London gives urbanites the flexibility to follow the fashion, from Whitechapel to Brick Lane via Hoxton, Bow and Stratford.

5. The 'siphon off' landlord tenants

A homeowner, a landlord and a tenant at the same time' Quite possible. Many young Londoners realise their money will buy them more property north of Watford, so they are using any saved deposit to buy a home in the North and then rent it out. The return can be so favourable that it easily covers the buy-to-let mortgage, leaving enough left over to siphon off and put towards a plush property to rent in east London. This strategy provides a long-term property investment and facilitates a freedom to rent in London.

 

If you are interested in east London property, contact one of Winkworth's east London estate agents offices today.

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