Lambeth is a fantastic part of London that ticks the right boxes for many different people. For example, it has a diverse population and some incredibly vibrant areas. At the same time, there are good schools, plenty of attractions, and the connectivity is excellent. All of this puts it in the spotlight for buyers, renters, and investors. If you’re in the latter group, we’d love to help you. We can provide flexible services like guaranteed rent and block management in Lambeth to match all kinds of needs.
New review council budget
Before committing to the area, whether you are a buyer, a renter, or an investor, it’s a good idea to look at how Lambeth will evolve in the coming years. The timing couldn’t be better because Lambeth’s Council recently released details of their budget and financial strategy for the next four years. It details how they will focus on spending, efficiency, and savings to navigate financial pressures but safeguard services for locals, particularly vulnerable people.
The major issue is Lambeth Council, like many other local authorities in the UK, has to do more with less. They are estimating a £49.9m gap in funding for 2026/2027. Alarmingly, it will rise to £84.38m by the end of 2030. Simultaneously, the demand for many services is increasing year by year.
On the bright side, the council has done their biggest ever engagement drive. The goal was to get feedback from locals to see what they want to prioritise. During the exercise they got an input from over 5,000 people. A survey had 5,155 responses. Additionally, they had several events to get views from younger residents 25 and under.
Priorities
As a top provider of guaranteed rent and block management in Lambeth, we appreciate that investors are looking at different things. It’s always worth keeping an eye on what the council is planning, especially for spending.
The key take-away from the engagement with local people is they have a number of priorities. Firstly is spending on waste and street cleaning to ensure it remains a safe, nice place to live. Second is working to address violence and anti-social behaviour, again to make it a great place to call home. Finally, they want to protect the frontline services that vulnerable residents are relying on.
Interestingly, the engagement also gave the council ideas on how to improve their finances. Feedback from locals included recommendations to have more commercial events to increase revenue. Plus, they said to improve efficiencies, such as looking at things like renting council buildings and digitising services.
Another great piece of news
The review budget and financial strategy also had another silver lining. It gave details of the fact that Lambeth will get additional funding above what they were expecting. This is thanks to a new multi-year Local Government Finance settlement, the first since 2018. It will ensure fairer financial allocations and allow more long term planning.
Come to us for block management in Lambeth and much more
If the news about Lambeth’s plans for the future gives you confidence to invest, you can rely on Finefair Ltd to help. We do it all, including assisting with finding the right assets. Additionally, we are one of the best providers of guaranteed rent in London. It’s perfect if you want stable cash flow.
Working with us is also fantastic because we have the skills to manage various types of properties. You can rely on us for block management in Lambeth and more. Different properties can offer unique challenges, but we can adapt to deliver great services. So, get in touch today to discover more about what we can do.
