Huge rise in de­mand for rental prop­er­ties

Macclesfield Express - - HOMES -

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

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