Property managing agents in Manchester are reporting a rise in the number of enquiries from new property investors looking to enter the buy-to-let market and a high volume of existing landlords requiring better management of their current rental property portfolios.
According to Mike Clarke, Director of Castledene Property Management (Manchester) Ltd, Manchester city centre is a great place to purchase rental properties, as the current rental market is performing well. With a large number of students studying at different universities* in and around the Manchester area, the demand for rental property, in particular, shared and student accommodation (HMO – House of Multiple Occupation) getting stronger.
With the UK property sales market at rock bottom and asking prices for residential property still falling, there really is no better time to invest in property. With PRS rental returns increasing, and a wealth of products and services being made available, it is a really good time to be a landlord.
September is typically one of the busiest times of the year, with students returning to universities and private tenants moving into properties that have been available for rent and on the market since June/July.
Operations Manager at Castledene Property Management (Manchester) Ltd Mike Clarke stated that Manchester and the surrounding areas have become increasingly popular in the last 12 -18 months, with a number of proposals being put forward to improve the infrastructure of the area, including Port Salford, set to create thousands of new jobs, and new developments continuing to spring up around the city, landlords are looking for suitable properties to purchase for rental purposes in prime locations around the city centre and Salford Quays.
If landlords need award winning quality property management anywhere in Manchester or the North of England
call 0161 777 8844 or 0191 527 4000 .
*Manchester University, Manchester Metropolitan University, Salford University, and The Manchester College
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