Manchester landlords reveal their biggest grievances about their tenants

SAM | 19th June 2018

Manchester is one of the most attractive cities in the UK for residential property investors what with ever rising rental prices, substantial investment from the Government’s Northern Powerhouse initiative and around 15 prospective tenants for every home available to rent.

 

There’s also extremely high earning potential for short term holiday lets in the region, with 1.4 million tourists visiting each year, and rental prices in Manchester’s vibrant city centre rising significantly throughout the summer season.

 

However, a new study highlights the issues facing landlords across the city.  The world’s largest independent management company, Airsorted, with its UK headquarters based in Manchester, has found that property management isn’t always a walk in the park as 68% of landlords surveyed in the city admit that they find managing property more stressful than they initially anticipated.

 

The home sharing service surveyed 1000 landlords across the Greater Manchester area to find out more about what problems people renting out their properties in the city are facing.

 

Unsurprisingly, the biggest problem landlords face is late payment of rent according to the study, with almost two thirds of landlords finding themselves out of pocket thanks to late-paying tenants.

 

The top five things landlords reported as causing them the most stress are:

 

1. Late payment of rent (62%)

2. Tenants breaking rules e.g. pets, loud parties (54%)

3. Managing third parties e.g. cleaners (47%)

4. Demanding tenants (41%)

5. Complaints from neighbours (39%).

 

The study also delved into the lighter side of landlord life by asking them about the stranger items they have found in rental properties after a tenant has left. Half of those questioned admitted that they found something that gave them a giggle with false teeth, underwear, and even live goldfish making the list?!

 

Tom Pickersgill, Manchester City Manager at Airsorted, said: “The findings of our report show that landlords in Manchester are facing daily struggles with property management. However, with the booming short-term rental industry in Manchester, expert hassle-free hosting lets landlords relax and simply look forward to a successful summer.”

 

Airsorted take the hassle out of property management by overseeing short-term lets for landlords in the city. It handles the time-consuming issues faced by landlords in Manchester, such as optimising a property’s Airbnb listing, vetting guests and organising five star cleans after every stay.

 

Airsorted’s launch in Manchester comes after the company completed a Series A funding round worth £7 million, after securing £5 million in venture capitalist investment plus an additional £2.1 million from Crowdfunding.  This cash injection is now being used to help the company achieve its ambitious growth plans to be in 38 new cities across the world by the end of 2019.