Looking to rent in East London? Now you can afford it!
PUBLISHED: 13:32 12 December 2019 | UPDATED: 13:54 12 December 2019
Riverside flats to let are coming on the market in East London - at highly competitive rents. Too good to be true? A not-for-profit landlord explains how it works…
London E16, like almost all East End districts, is developing fast into an up and coming area, attracting city workers, couples, young families and flat sharers.
The chance to live by the river is a big draw, but it's competitive rents coupled with the area's transport links that have the strongest appeal for existing and would-be tenants.
The 25-mile-long Docklands Light Railway (DLR) has paved the way to easy access for commuters into the city, north to Stratford, south across the Thames and east to London City Airport, with links to the Underground network along the way. Every day, the DLR carries some 340,000 passengers.
Add to that the development of shopping malls such as Westfield at Stratford, trendy hang-outs like Brick Lane, plus popular bars, restaurants and pubs and it's easy to see why a young working demographic would want to set up home in the area. However, this is London and not everyone's experience of the private rental market is always positive…
Enter Folio London, a not-for-profit landlord, who are driven to inspire, support and champion renters in London.
As the private rental arm of the Notting Hill Genesis housing association, Folio London owns more than 3,000 homes across London, with all profits ploughed back into the affordable homes sector.
In London E16, it currently has:
- Over 190 one, two and three bedroom flats for rent from £1,420pcm at Royal Albert Wharf, Gallions Reach, where 100 tenants are already living. Launching in January 2020, this is an award-winning and unique waterfront district.
- Around 60 studio, 1 and 2 bedroom flats for rent from £1,300pcm at Royal Wharf, Pontoon Dock, now home to over 250 tenants. The Royal Docks were once the commercial hub of London and this development offers a collection of stylish private rental apartments set in a relaxed waterfront development.
"Flats to rent in east London, in what's becoming a prime location, don't come up very often," says Lizzie Stevens, the Director of Folio London.
"We're able to do this because we're a not-for-profit landlord so we rent at market value - and we don't charge fees, unlike many other landlords or agents. Plus we offer a free furniture package to new tenants with stylish, brand new units at no extra charge. Not surprisingly, when we have these vacancies they do go quickly because our offer is different from the others in the area."
On-site facilities at Royal Wharf include a state-of-the-art gym and swimming pool, whilst at Royal Albert Wharf you have a restaurant, cafe and nursery. Lizzie describes the two locations as "little communities within a community".
"There's lots to do right where you live but also, because of the great transport links, it's easy to go further afield, whether that's into town or out to the East Anglian countryside," she adds.
Because Folio London owns its own homes, the company makes sure the properties are kept in good condition and any complaints dealt with quickly by in-house property managers, Lizzie explains. Every year, all the homes are also condition-checked.
Homes are offered with flexible tenancies and no one is asked to leave until the agreement is up so long as tenants adhere to the codes of conduct.
"For us, these properties are more than just a roof over someone's head," says Lizzie. "We're here for our tenants for as long as they need us and we back that up by providing high quality homes for rent in London, exceptional service and ongoing support.
"We're driven by people, not profit, and we aim to provide the security and stability of renting with a proven organisation rather than an individual landlord."