For the first part of its history, Waterlow Court served its purpose of providing a home to single working women from all social backgrounds before accepting men as well as women in 1943, and couples in 1954 when the original owner, The Improved Industrial Dwelling Company, sold Waterlow Court to a private owner who started to sell off the rented flats on short-term leases.
The communal dining area and kitchen, plus the servants’ quarters were converted to flats to 1934, though the porter and his wife remained for a short time.
After many of years of neglect from a series of freeholders that reached a low point in 1986 when a developer considered demolishing the court and replacing it with a set of modern flats, the building was saved when a group of residents banded together to the form the Waterlow Court Residents’ Association (WLCRA) and successfully fought for ownership of the freehold, which they bought from the New Hampstead Garden Suburb Trust Limited in 1986.
All owners now have shares in the residents’ association when they buy the lease and have an invested interest and responsibility in the maintenance of the building and its grounds.
In 1989 the quadrangle was assigned further Grade II listing by the Department of the Environment in order to ensure the survival of the court into the 21st century.