Huge rise in demand for rental properties
THE south Manchester rental market is going through a boom period of growth in 2015, with a strong demand for properties to let in popular suburbs.
So says independent estates and lettings agent Julian Wadden who, with branches in Didsbury, Heaton Moor, Marple and Reddish, are seeing this trend first hand, as rental properties are let quickly due to demand outstripping supply.
Lettings manager Chris Harrison said: “It’s becoming common for rental properties to be let at first viewing, within 24 hours, and with multiple offers on the table for landlords. The Heatons in particular are experiencing a rise in the letting of larger homes, with average monthly rents 10 per cent up on this time last year. The summer months are a notoriously busy time for tenants demanding family housing, as families want to settle into their new homes quickly before the start of the new school term in September.”
So why are some families deciding to rent in the area rather than buy? Many are appreciating the flexibility that renting can offer them, while those new to the area are taking advantage of being able to live in their desired location without the commitment of buying a property immediately. Others may have already sold their house and are ensuring that they are in a perfect position to proceed quickly when their dream home does come up for sale.
In Didsbury the trend is slightly different, as the majority of tenants are young professionals renting apartments or houses, either by themselves or as couples to take advantage of the independent shops, bars and restaurants on offer.
Head of lettings and property management, Stephanie Hilditch said: “The increase in rental demand, in turn, requires more suitable properties to be offered up for let. This makes South Manchester a fantastic place for landlords to invest in and secure tenants quickly across a wide range of property types. Julian Wadden, as a well established and experience agent, can ensure the process runs smoothly for both landlords and tenants. We work closely with landlords to minimise void periods between tenancies, whilst also reviewing the changing market as tenancies come up for renewal, to ensure a fair rental price is achieved. Landlords now have a multitude of responsibilities which can seem daunting to first-time or inexperienced investors.
“However, the property management service available across all Julian Wadden branches can take the hassle out of the complexity. ARLAqualified, the experienced team has up-to-date knowledge and understanding of the required legislation, and ensures that local and reliable contractors are used to carry out routine maintenance. In our bespoke e-magazine, The Landlord, we provide interesting and practical news and information to all our landlords on a regular basis.”
Julian Wadden will share the latest news and advice at its landlords’ breakfast workshop, coming up on Friday, September 18, and this is available to any existing or prospective landlord. To reserve your free place contact stephaniehilditch@ julianwadden.co.uk or call 0161 713 4013.
●● Leon Blackmore, Stacey Wilson, Daniel Biddle, Julian Wadden, Stephanie Hilditch, Marc Cox and Chris Harrison