Gaining a preliminary foothold on the property ladder can be challenging; saving enough money for an initial deposit can be tough, irrespective of whether you’re buying a property on your own, or with a partner. Consequently, more people are choosing to rent, a detail that hasn’t escaped the attention of property owners, who are listing their property to let.
Estate agents in Manchester are experiencing a significant rise in demand for rental properties. In fact, as of November 2019, 99.5% of 800 studio and 1-3-bedroom apartments in Manchester were let to students and professionals, highlighting the popularity of the lettings market, particularly amongst the younger demographic.
Moreover, the increase in tenants has had a profound impact on the future developments being planned for the city, with 39% of future developments in central Manchester purpose-built rental blocks.
An established estate agent in Manchester, Pad Residential not only offers assistance for those hoping to sell their property but also guidance for people seeking specialist lettings services.
Letting a property via a letting agent is often beneficial for all parties: Landlords, tenants, as well as the agent, with the following often cited as reasons for dealing with estate agents offering lettings services.
Access to Advisory Services
Estate agents’ knowledge of the property sector is vast and its part of their role to keep updated with legislation. For example, changes to stamp duty charges, and so forth.
A seemingly innocuous mistake can develop into something more serious, rather quickly. Therefore, it can be reassuring knowing that you’re equipped with expert understanding.
Irrespective of the size of your portfolio, maintaining up-to-date knowledge of developments can be a demanding task. Pad Residential provide our clients with accurate lettings information and guidance regarding key essentials such as landlord insurance, tax, legal advice, as well as property preparation for your tenants.
Added Source of Comfort from Estate Agents in Manchester
There are plenty of instances whereby owners choose to rent their property whilst assuming the role of a private landlord.
However, there are a variety of common issues that can materialise when renting a property, including invalid notices, incorrect claim forms, unprotected deposits, disrepair in the property, drawing up the wrong tenancy agreements and such complications that can be avoided by using experienced estate agents who offer lettings services.
When taking on the role of a private landlord, there are legal requirements that must be fulfilled. However, faults are often made and these critical errors can sometimes have severe consequences.
Estate agents offering lettings services are well-versed in how to keep landlords happy, whilst adhering to best practice.
Higher Rent Values and Reduced Vacancies
Ultimately, property landlords need to make money to make sure that their investment has been worthwhile; estate agents continually assess the value of properties available on the market, applying in-depth knowledge of market conditions, trends and demands to ensure that optimum rental yield is fulfilled.
Every day that a property is empty, the owner is losing potential income. However, estate agents can assist the owner in minimising vacancy periods, ensuring that a tenant is sourced quickly.
Finding Suitable Tenants
Sourcing an occupant can be costly and time-consuming if a landlord decides to search on their own.
However, estate agents can often provide a tenant finding service for owners on the hunt for an occupant, whilst also ensuring that the candidate is an appropriate match. For example, a reputable company will conduct thorough checks into applicants to decipher whether they should be considered. Background checks will typically involve identity and residency checks, credit checks, as well as references from employers and current landlord references.
Many estate agents in Manchester provide supplementary services, to complement their typical offerings for clients.
It’s not unusual for additional services to be provided that protect landlords and tenants, respectively. For example, eviction cover, a thorough inventory service, rent guarantee, property preparation for letting, as well as property visits, when needed.
Pad Residential: A Manchester Estate Agents Offering High-Calibre Lettings Services
Here at Pad Residential, we provide diverse property services; we provide our clients with sales and lettings services and have established ourselves as a recognised company within the Manchester property market.
In addition to our sales and lettings services, we work closely with established property management company Scanlans. Therefore, whether our clients need access to information regarding sales, lettings, or property management, our team are thrilled to offer in-depth support.
Are you considering renting your property? Perhaps you’re a prospective tenant on the lookout for a new home? Whatever your circumstances, call Pad Residential on 0161 839 9654 to speak with a member of the team – we’d be delighted to help.