Are you ready for the rental surge?
Short term rentals might be the future
There’s no getting away from Coronavirus and how it’s affecting the property industry, but recently there’s been even more positive news for the market. ARLA PropertyMark recently conducted a survey that suggested the market post-lockdown has been more competitive than ever. More and more people are looking to rent in Manchester a little longer until things become a bit clearer. This has also meant that there has been an increase in demand for short term rentals while people understand the current situation and how it affects them.
Minimise your rental voids
Make sure your property is ready for the surge of tenants and get ahead of the curve to minimise your rent voids even further. ARLAs report stated that the avg. void period is down to just 3 weeks, meaning it’s important for Landlords to ensure their property is ready in time for the changeover season. Speak to us today to find out how you can avoid void periods with our fully managed service..
Prepare your property
The ARLA report also found that in July 2020, the average number of viewings per property was at 5. That’s quite a significant number of viewings, so it’s now more important to make sure your property is in the best possible state it can be. Earlier in the year we pulled together a few tips and things you can do to make the most out of your property. Read more on the recent planning permission changes and how to prepare your property for new tenants.
Less mortgage products available for first time buyers and those with lower deposits has meant that more people are looking to rent until new products become on offer. Perceptions have also changed towards renting, with “Generation Rent” getting older it’s now become more acceptable. Combine this with findings from recent research that 50% of adults under the age of 40 are expected to be renting by 2025, and the rental market is looking promising for growth.
Rental demand at an all time high
The number of tenants seeking rental homes is at an all time high according to the ARLA report. If you feel unprepared, speak to the specialists today to find out how we can help you reap the benefits of the current market.
Despite local lockdowns in the North West, it has seen the 3rd most demand of any region in the UK behind Scotland and the East midlands. With economic growth on the up and plans to improve the infrastructure, the future market looks to be a promising one.
Why Property Management?
At homes4u, we’re the property management specialists, we can quickly assess your property to ensure it’s fully compliant with current law and legislation. You’ll have peace of mind with our rent guarantee that’s aimed to minimise your voids, meaning you’ll never miss a month of income. We can give you individual tips about how to make the most of your property, manage the things you’re not comfortable with and find you tenants.
Get in touch with us today to find out how you can make the most of the current rental boom.