Are you thinking of becoming a landlord in Swansea, but are nervous about the procedures and embarking on something new? Are you worried that your property won’t rent as quickly as you’d hope? Find out about the rental market in Swansea here!
First of all, don’t worry. The rental market in Swansea is booming and there is a 5% increase in average rent across the region. Properties are reaching and leaving the market in record time, whether you have a 4-bed house to rent in Mayals or a studio apartment to rent in Swansea City Centre. There is an appetite for properties of all sizes, in all areas.
To breakdown the Swansea rental market further, we asked our Lettings Lister and Senior Negotiator, Anthony Roige, to share his Swansea rental market insights:
Q: Are there any places in Swansea where rental properties are particularly sought-after?
A: Rental properties would traditionally cluster in Swansea city centre, but with more families opting to rent, there is huge demand for rental properties across the region from SA1 to SA7. We are more notably receiving an unprecedented influx in queries for properties to rent in SA2 and SA3. Our customers are attracted to the café culture, beautiful beaches and general lifestyle in those areas.
Q: What type of properties rent well in Swansea city centre?
A: Properties to rent in Swansea city centre usually attract sole tenants and couples, due to their close proximities to workplaces, leisure and hospitality. Studio apartments right through to 3 bed properties in Swansea city centre will always do well – and won’t stay on the market for long. In June, a two-bed apartment in the Marina received 141 enquiries and was let within 24 hours.
Q: What’s the rental market like in Brynmill, Uplands and Sketty?
A: Traditionally, Uplands and Brynmill have been dominated by Houses in Multiple Occupation (HMOs), that cater to the area’s student demographic. However, this has changed significantly over the last few years. The close proximity to Brynmill Park, Singleton Park and Cwmdonkin, and the great local amenities in Uplands, is making it a highly attractive are for families. We also have many hospital and university staff renting with us in Uplands and Sketty. This area is a ‘catch-all’ for rental properties – whether you have a top-floor studio apartment, a five-bed family home or a two-bed terrace, there is a tenant looking to live in Uplands and Brynmill.
Q: Is being a landlord complicated and a huge commitment?
A: There are certainly more compliance obligations that Landlord’s need to fulfill than 20 years ago, but it doesn’t need to be complicated or overwhelming, especially when you opt for a Fully Managed Service. At Belvoir, we have a dedicated team of lettings experts in our offices that can talk you through the whole lettings process- from beginning to end. From property insurance and tenant management, to ensuring your property meets the mandatory rental standards. Our Fully Managed Service gives our Clients peace of mind knowing that their property is in safe hands.