Advice for Blackley Landlords

Previously an important player in the chemicals industry, the North Manchester district of Blackley is a popular choice for renters looking for affordable properties to call home. The area is within easy reach of the cosmopolitan city of Manchester, as well as enjoying excellent road and public transport links with the rest of the North West. Blackley offers relatively cheap investment opportunities to would-be landlords, and houses and flats cost less than in many of the city’s suburbs. With a number of attractive green spaces such as Boggart Hole Clough, Blackley Forest and the famous Heaton Park, Blackley is popular with families who want easy access to outdoor areas.

Although originally a rural village, Blackley is now a built-up area and saw huge growth in population throughout much of the 20th century. If you’re looking to invest in a rental property in Blackley, expect to pay from around £70,000 for a small terraced house or new build flat. If you are thinking of letting property in Blackley and are not familiar with the area, there are a number of reputable estate and property agencies that can provide Blackley landlord advice.

If you’re new to owning rental properties, here are some tips to help you ensure you don’t fall foul of regulations put in place to protect tenants

Using an Assured Shorthold Tenancy

An Assured Shorthold Tenancy (or AST) is the most common type of tenancy agreement. It was originally brought in in order to provide protection for both parties involved in the rental agreement – the tenant and the landlord. The Assured Shorthold Tenancy should be in writing and both parties should take steps to ensure they fully understand the terms and conditions of the agreement. Relying on oral or informal agreements can lead to serious problems and misunderstandings further down the line, so always ensure everything is placed in writing.

The Assured Shorthold Tenancy includes a number of points, but some of the most important ones are as follows:

– The landlord is entitled to request a market rent
– The landlord is permitted to take back the property after a period of six months
– If the tenant does not pay the required rent, the landlord can take their property back before six months has passed. In this case, the tenant must owe a minimum of eight weeks’ rent.
– The deposit paid by the tenant must, by law, be placed in an official and approved tenancy deposit scheme. This protects all tenant deposits paid on or after 6th April 2007.

The Deposit Protection Scheme

Introduced to protect the deposits paid by tenants to landlords or their agents, this scheme was introduced in April 2007 in England. All deposits paid by tenants in England must be put into an approved secure deposit scheme. This can help resolve any issues that arise at the end of the tenancy agreement when the tenant is moving out of your property. If you are a landlord and you receive a deposit from your tenant, you must place the funds in a suitable scheme no later than 30 days after your tenant gives you the deposit. It is also your responsibility to update your tenant on the scheme you have used and let them know their rights.

The Importance of the Inventory

Many landlords, even experienced ones, often cut corners when compiling an inventory. While it’s easy to become complacent, the inventory is extremely important and is a vital tool that protects both you and your tenant. Make a thorough and detailed list of every item in your property, including all furniture and any fixtures, fittings and accessories you will be leaving in the property while it’s being rented. Include every item in the property, along with descriptions wherever necessary. Include the approximate (or exact if known) age of every item, and its condition, as well as any comments you feel are relevant. You should encourage your tenant to carefully read the inventory before you both sign it.

Anti-discrimination Laws

Finally, when you are planning to let a property in Blackley or anywhere else in the country, you should be aware that it is illegal to refuse any tenant on the grounds of their gender, disability, religion, race or sexuality. There are strict anti-discrimination laws in place to ensure everyone has the right to be treated fairly, so you must bear in mind you will not be able to refuse to let your property to certain groups.

North Manchester Lettings: Advice for First-time Landlords

The decision to enter the property market as a landlord is not one to be taken lightly, but if you’ve been thinking about it for a while, there’s no time like the present to set the ball rolling on your new venture. Manchester is a great spot for property investors – one of the UK’s major cities, it is well connected to the rest of the country by road, rail and air, and has a large student population. Both these factors mean there is always a steady stream of renters looking for the perfect property. If you choose wisely and research your target rental market, you should have no trouble generating interest in you property (or properties).

This article aims to provide practical North Manchester landlord advice for those who are new to the area, or new to the property market.

Decide What Type of Tenant You Want

You might not have any firm ideas of what type of tenant you would like to rent out your property to, but it’s very helpful to know who your market is. North Manchester is popular with a wide variety of renters – including students, young professionals, families and older couples – but not all groups will want to rent the same types of property. Students have become increasingly demanding in the last couple of decades, and the traditional cramped, damp, run-down red brick terraced student properties of the past will no longer cut it. Many students prefer to live in designated student apartments with all mod cons, excellent facilities and good transport links. It’s still possible to rent private properties to groups of students, but students tend to congregate in certain areas, particularly to the south of Manchester, so are unlikely to want to live in a district that is predominantly home to families.

If you want to target families, you will need to think about the proximity of schools. North Manchester has a large number of primary and secondary schools, some more popular with parents than others. Proximity to a good school can have an impact on house prices, but you might also be able to command a higher rental fee if you are in a catchment area of a top school, so you should bear this in mind if your target renters have children.

Young professionals are likely to want a property that’s close to nightlife and shops, or at least has excellent transport links to the nearest decent nightlife. In the case of North Manchester, this is likely to mean excellent links to the city centre – so look for good train, bus or tram links, or at least somewhere that is a short and affordable taxi ride away. North Manchester’s Metrolink tram system is very popular with commuters, so properties near a tramline are always a good bet.

Don’t Over-estimate the Market

As an investor, you have the advantage that you are not part of a chain and you do not need to wait for your own property to sell before you complete. This can be a big attraction to vendors, and may allow you to drive down the price on your chosen property. Emphasise your ability to commit and proceed with the sale immediately when you make an offer, but don’t get carried away and be tempted to pay more than you can realistically afford, or more than makes sense given your likely return on investment. While North Manchester has some highly desirable areas, many districts – such as Harpurhey and Moston – are known for their affordable housing and tend to have something of a rough reputation. No matter how desirable or modern any property you purchase in areas like these, you will struggle to attract renters prepared to pay premium level rents.

Seek Professional Advice

If you have never let out a property before, you will need to ensure you fulfill all your legal obligations. There have been moves to clamp down on unscrupulous and negligent landlords in recent years, and tenants have a number of rights you will need to be aware of. If you are not entirely sure of all your responsibilities as a landlord, seek advice from a professional who can ensure you don’t fall foul of the law. There are numerous agencies with specialist knowledge of the North Manchester rental market and these can help you target the right renters for your property, and help ensure a mutually beneficial relationship for both you and your tenants.

Cicero Street, Moston, M9

£ 650 per Month

Moston Lane, Moston, M40

£ 700 per Month

Ashley Lane, Moston, M9

£ 650 per Month

Stovell Road, Moston, M40

£ 450 per Month

Romney Street, Moston, M40

£ 575 per Month
£ 600 per Month

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