If you’re considering investing in a buy-to-let property in Warrington, it’s best to gain a deeper understanding of the Warrington letting market and the rewards and considerations involved. That’s why we’ve produced this in-depth guide that also explores the benefits of professional property management support.
Continue reading to find out more!
Is Warrington a good place to invest in property?
Warrington has developed into a key area of interest for landlords in the North West over the last 10 years for many reasons.
Thanks to the Warrington New City Project, which aims to transform the area into a self-sustaining city, this Cheshire town has seen much investment and development, helping to attract more exciting businesses. With more job opportunities comes more individuals looking for a rental property to live in – so why not take advantage of this lucrative opportunity?
The benefits of letting in Warrington
As Warrington grows in value and supply and demand increases, the rewards associated with letting property in the area become more lucrative – but, what exactly can landlords gain from investing in the Warrington rent-to-buy market now and in the near future?
Private rent costs in Warrington are increasing
The income and yield generated from a rental property in Warrington are much more considerable than a decade ago as rent costs have continued to soar. This is great news for landlords and investors – according to the Office for National Statistics, the average monthly private rent in Warrington was £778 in April 2024, an 8.1% rise compared to last year.
Higher rents are due to rental demand outweighing supply – increased mortgage rates have meant more first-time buyers are struggling to buy and as a result, are staying in rented properties in Warrington for longer.
You’ll have a greater pool of tenants to choose from
As a landlord in Warrington, you won’t have to settle for a tenant who may not be the right fit for your property as there is a significant volume of renters in the region competing for your rental home.
Warrington is an exceedingly desirable area for tenants to live in for multiple reasons, including but not limited to the following:
- Its convenient location near to the major cities of Chester, Manchester and Liverpool.
- There’s an abundance of town centre attractions such as a new market hall, Golden Square shopping centre, and various eateries and bars.
- There are several transport links, including Warrington Bank Quay station and three nearby motorways, including the M62 and M6.
With a greater number of people competing for your residential property, you’ll have the freedom to interview an array of candidates and select one who ticks all your boxes. You won’t have to let to untrustworthy tenants with poor references due to a lack of options, saving you hassle in the long run.
Your property is unlikely to remain empty for long periods
As we explored earlier, demand for rental properties is high due to the excessive costs associated with purchasing domestic property, such as houses and flats.
Monthly home-owning costs for first-time buyers have risen 113% in the last decade according to Halifax, explaining why the Warrington rental market is so saturated and competitive for tenants.
With fewer renters being able to move out of their current rental property due to a lack of alternatives, your tenants will likely desire to stay at your property for long periods, ensuring your fruitful return on investment (ROI) continues, and you don’t lose any income.
What to consider before investing in a buy-to-let property in Warrington
Although the rewards of being a landlord in Warrington are worthwhile, owning a rental property entails several responsibilities beyond the initial purchase.
Property owners will face the following property management challenges throughout a tenancy:
- Communicating with tenants
- Taking responsibility by tackling maintenance issues and employing trusted contractors
- Ensuring they keep up with UK regulations, legal obligations and legislation – this can be time-absorbing and very mentally demanding, especially for landlords with a large property portfolio
There are also some economic risks to bear in mind. For example, the cost of living crisis and job losses could impact your renters’ ability to afford rent and lead to rental arrears, ultimately impacting your income and fracturing the relationship with your tenant.
But not to worry, property management companies such as ourselves are on hand to support landlords throughout their property venture.
Could you benefit from landlord property management services?
Here at Easylet Residential letting agents in Warrington, we offer professional property management services to landlords, which include our let-only or full-management packages.
Our team of property managers can help with various aspects of your letting journey by organising viewings, communicating and dealing with clients on your behalf, organising property maintenance, collecting monthly rent, plus much more!
We can even provide solutions tailored to your exact needs and the level of support you require.
Speak with a property management expert today
If you’re searching for letting agents in Warrington with the experience and expertise to manage your assets, we’re the property management company for you!
Our professionals are on hand to offer advice throughout your time with us, giving you peace of mind that your rental duties and tenants are being handled correctly.
If you’d like to know more about our property management services, please don’t hesitate to contact us on 01925 633011.
