The rental market in Manchester has gone crazy over the last few years due to a huge imbalance of supply and demand. In the third quarter of 2022, the number of rental properties available in Manchester hit an all-time low, and combined with an influx of renters, this has led to a rent crisis across the city.
With more and more people wanting to move to the city, but with a lack of home available, competition has become ridiculously fierce - and rentals are now flying off the market almost as soon as they're listed.
Tenants are now being forced to pay much more for their rent each month too. According to the latest data from Zoopla, the average monthly rent in Manchester is now £978 - which has gone up by 14 percent in the last year alone.
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With thousands of renters desperate to find a new place to live in Manchester, a property expert at Buzz Capital has now revealed his top tips for how to beat the crisis and have the best chance at securing a rental home in the city.
Be on the ball - and cover all bases
“Being on the ball is crucial when securing a property in such a competitive rental market”, says Adam Betteridge on behalf of Buzz Capital.
“Sign up to email alerts from Rightmove, Zoopla, and PrimeLocation. SpareRoom and RoomGo are good places to find shared accommodation. SpareRoom also offers a free trial of their Early Bird Access service, which is a great way for prospective renters to maximise their chances of finding accommodation.
“Contact Manchester-specific estate agents and ask to register your details and to be notified of any new properties. Many estate agents will advertise properties on their own sites before putting them on property portals - giving on-the-ball property hunters an excellent head-start.
"Some properties are also advertised on social media groups. Proceed with caution in these cases.”
First impressions can make or break your application
“If you manage to secure a viewing, make sure to attend on time," urges Adam.
'"Let agents know of any delays beforehand. If you decide not to view the property, try to cancel at least 24 hours ahead. You may use this landlord or letting agent in the future, so making a good first impression is key.
“We recommend smart casual dress. Ask lots of questions while at the property - this communicates interest.”
A memorable cover letter is crucial
“A cover letter will make your application stand out, particularly with private landlords," Adam advises.
"Introduce yourself, briefly summarise your interests, career, and financial situation, and explain why you are interested in the property.
"Tailor your cover letter to each property. Communicate what you like about the property. If you’re applying for a house with a garden, a note about how you intend to keep it tidy never hurts.”
Organisation is key - gather all supporting documents before viewings
“If you’re interested in a property, try to make an application immediately after viewing it or the following morning," he said.
"If you’re currently employed, gather four months of payslips. You will also need bank statements from your current account.
“Many agents specify a minimum earning for a property. If your salary is less or you are currently unemployed, don’t panic. Attach statements from any savings accounts and ask family members or friends if they are willing to be a guarantor.
"Attaching a bank statement from a potential guarantor before being asked for one can show the landlord or agent that you’re serious about a property. Include character references from an employer and, if it's good, show evidence of a credit score.”
Consider adjusting your expectations
With the rental market so competitive in Manchester, Adam suggests looking slightly further afield.
“Manchester’s Northern Quarter, Ancoats, and Spinningfields are becoming increasingly popular among renters. In Sale and Salford, rental prices have increased considerably," he sad.
"Many prospective tenants limit themselves to locations on the Metroline. In our opinion, this is a mistake.
“Greater Manchester offers excellent bus routes, and less sought-after locations, such as Stockport, offer an array of boutique shops, expansive parks, and independent bars and restaurants.”
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