Property Management Manchester: Is it right for you?

Manchester is blooming. A city bustling with new development, infrastructure and a thriving lettings market to match. One look at the burgeoning skyline tells you all you need to know about construction and development in the UK’s second city. Things are happening here. The city is buzzing and it’s an exciting time to get involved. It’s an exciting time for us, too! As one of Manchester’s premier property management companies, we’re as invested in the city as you are.

Known as the ‘capital of the North’, Manchester is the second-largest economic region outside London. Adding £56 billion in gross value to the UK, it’s the second-largest population centre; with over 2.7m people living in the Greater Manchester area. Manchester’s tech scene alone is worth a whopping £5 billion. This makes Manchester the leading digital tech city in the UK.

These figures are set to boom over the coming decade. Due to a cocktail of increased investment, company relocations and an exodus of workers from London that is already well underway. An estimated 125,000 new inhabitants are expected in the Greater Manchester area by 2025 and they all, of course, need somewhere to live!

Property management in Manchester

That’s where we come in. X1 lettings are here not only to service the incoming tenants but also to take care of the landlords looking for someone to manage their Manchester properties. If you’re searching for property management in Manchester, tailored to your needs, look no further.

Still not convinced about letting in Manchester? Here come some more facts to change your mind:

Build Back Better

It goes without saying that coronavirus has affected the way in which we live and work. Especially in cities. Manchester, along with Liverpool, has pledged themselves to the ‘Build Back Better’ movement. A pledge to build upon the opportunities that new ways of working and living will bring.

Manchester is a city poised to take on the businesses and employees leaving London in the wake of Covid-19. Many large companies are doing away with huge offices, in favour of staggered work hours and diving employee time between remote and in-office days. With both office space and housing much cheaper here than in the capital, it’s not a leap to foresee a steady stream of businesses moving to Greater Manchester.

This isn’t a new phenomenon. In the last decade, we’ve seen huge corporations such as HSBC, Freshfields Bruckhaus Deringer and KMPG move north. Not to mention the BBC and other broadcasting giants setting up in Media City, Salford.

Property Values Rising

Investing in property to let isn’t just about rental yield. Buying in the right location at the right time will also see an increase in the property value. For this, there has never been a better time to invest in Manchester.

The most recent UK House Price Index (Hometrack, May 2020) shows property values rising in Manchester at around 3.4% annually. That’s over a third faster than the UK average of 2.1%. Twice as high as the national city average of 1.8% and a whopping four times faster than London’s 0.9%.

These figures also show that Manchester is on track to overcome any potential dip caused by Covid-19. Plus the impending impact of Brexit. Something that can’t be said of all investments in the current climate.

Investing from Outside

Some of you reading this are thinking “this is all well and good, but I don’t live anywhere near Manchester!”. That’s no problem, because we are here to help. Our award-winning property management service means that you can invest and forget.

We tailor our services to your needs, ensuring that all you have to do is sit back and collect rent. We will handle valuations, marketing & advertising, accompanied viewings, tenant selection, tenancy agreements, regular inspections, serving legal notices, safety certifications and checks. All supported by lettings, sales and finance teams. Don’t let geography hold you back, let us help you.

We regularly provide property management services for landlords outside of Manchester looking to capitalise on the city’s great potential… We’d be happy to help you, too!

The Areas

If you aren’t from in and around Manchester, you might not know about the diversity of locations available. From redeveloped Altrincham (voted the best place to live in the entire UK by the Sunday Times!) to up-and-coming Salford. There is something for everyone, if you know where to look.

If you’re searching for an ultra-cool modern flat, built into a former industrial revolution-era factory – we have those. Maybe you’d prefer a quaint cottage in a Pennine village, still just twenty short minutes from the city centre? We’ve got those, too. This diversity in location and price, married with fantastic commuter links, is part of Great Manchester’s broad appeal.

Universities

Greater Manchester has one of the largest student populations in Europe. Around a million people are studying across the five higher learning institutions at any one time. This makes it a perfect place to have a managed property for a multitude of reasons.

Firstly, it’s a constant stream of renters. Students rarely (if ever) buy a property and most will either leave Uni halls in their second year or opt to rent from a landlord right from the outset. This means that a property within a fair distance of their chosen campus will have no shortage of interested candidates!

“Aren’t they messy, noisy and bad with paying rent?”

On the whole, not as much as you might think. The stereotype of messy students is overplayed for sure. It’s also something you don’t need to worry about with our property management Manchester service. We will vet all tenants, perform regular inspections and take all other steps to ensure your property is secure and well looked after.

If you are in need of property management services in Manchester, or just want to chat about the possibility, feel free to get in touch with us or arrange a time to pop in and see us at one of our offices. Our teams have a wealth of experience in their respective fields and will do everything they can to make the process swift and simple.