The growing influence of professional tenants in London

The English Housing Survey had revealed that 41% of household reference persons (HRPs) in the UK included individuals in higher and lower managerial positions, with a professional background. In London, where the workforce is the largest in the country and the regional and global headquarters of the biggest employers in the finance, technology and IT sectors are based, professional tenants make up nearly 60% of the private rented sector (PRS).

Professional or corporate tenants in London are primarily businesses or MNCs seeking good-quality rental homes for their staff from other cities or even outside the UK. Unlike most private renters who lease individually, these tenants are usually backed by their employers and offer better budgets and are also considered more reliable.

Why is there a high demand from corporate tenants in London?

Relocation to London for work is the most common factor driving the city’s high rental demand. While over 40% of all work-related migration across the UK is to London, a third of all international migration to the UK is also within its capital. To support this large workforce and meet their staff’s housing needs, many companies tap into the city’s PRS.

Hybrid work models and quick commutes

Although most offices in London are within Zones 1 and 2, like the City of London, the West End and Canary Wharf, the Covid-era lockdowns have normalised Work from Home (WFH) and hybrid working cultures. This shift has unlocked the potential of many residential zones across Outer London, which offer excellent transport when needed and more space to enjoy a healthy work-life balance.

What are the benefits of letting a property to corporate tenants?

Better budgets

Businesses usually have higher budgets than private individuals and can offer better rents for premium upgrades and smooth tenancy management.

Longer relationships / fewer vacancies

Companies tend to have a continuous workforce rotation and are more likely to establish long-term tenancy agreements with landlords that offer quality and convenience. This means more stability and fewer voids for well-managed homes.

Peace of mind and steady income

Finally, the tenants living in your property are employees of the leasing company, and as a landlord, you can be assured that they are responsible and thoroughly vetted.

How can landlords attract professional tenants?

While location is a top priority for most working professionals, other factors, such as lifestyle features, furnishing, seamless tenancy and property management services, pet-friendly terms, etc., also appeal and make a difference.

Choosing the right location

Professional tenants usually look to rent close to their offices for easier commuting. However, since intra-city transport in London is world-class, with options like the Tube, Elizabeth Line, Thameslink, DLR, and several bus routes, high-quality rental developments close to a station are preferred. Our branches in Canary Wharf, Southall and Nine Elms also see a high demand among this tenant group.

Fully furnished flats

Most overseas or relocated tenants working in London for a fixed term may not have the time or inclination to invest in furniture. Providing a furnished home with complete furniture packages is appreciated. We regularly help London landlords furnish and renovate their properties.

Stylish interiors and professional photography

Most properties are shortlisted based on their appearance, and the marketing pictures make a big difference. Investing in visually appealing interiors and properly photographing the property are crucial. We provide these add-on services for our clients as their letting and management agency.

Professional property management

Around 95% of the corporate tenants we work with say they expect fully managed properties, so that all issues are dealt with promptly and professionally. Our one-stop property management service caters to this need, as we handle all compliance requirements for landlords to deliver on all tenant expectations.

More on how landlords in London can attract corporate tenants

Rent to a corporate tenant with Benham and Reeves

With over 65 years of lettings experience in London, we continue to work with some of the biggest employers across a range of services and professional sectors. Our 21 branches across the capital, along with dedicated country desks for corporate clients from China, Japan and other countries, help our landlord client secure high-calibre professional tenants relocating to London.