In this blog we’ll explore the benefits of renting in Coventry, including why it’s a great option for those looking for affordable housing, how to go about renting in Coventry, and some of the key areas to consider when searching for a rental property in the city. Keep reading to get the facts from our Coventry estate agency.
Renting in the city of Coventry
Coventry is a city in the West Midlands that boasts of excellent transportation links. With Coventry Station connecting to Birmingham and London, it serves as an ideal location for commuters. Moreover, it is conveniently accessible by car, thanks to its easy access to major highways such as the M6, M1, and M40, making it a perfect place for people who are always on the go.
Coventry is home to not one but two prestigious universities, Coventry University and the University of Warwick. Coventry University has a reputation for providing practical, career-oriented education, producing graduates who are well-prepared for the workforce. On the other hand, the University of Warwick is known for its research and academic excellence across various fields. Together, these two institutions contribute significantly to the intellectual and cultural vibrancy of the city, making it a great place to live and learn.
Another significant factor that attracts a diverse sector of tenants to letting agents in Coventry is the city’s central location in the West Midlands. The city’s rental market has benefited from the increase in job opportunities within the region, such as JLR’s (Jaguar Land Rover) engineering plant situated in Whitley Coventry. Last year alone, JLR created around 1000 new jobs across their Coventry plant, providing a significant boost to the city’s economy and rental market.
Coventry’s healthcare sector is also a vital part of the city’s infrastructure. Several well-regarded hospitals, including University Hospital Coventry and Warwickshire, provide a range of services from emergency care to specialist treatments. The hospital is a major employer in the city and serves not just the local community but also patients from across the West Midlands and beyond. Altogether, Coventry’s healthcare sector ensures that residents have access to high-quality medical care whenever they need it.
HMO and Student Rentals
Coventry is home to two universities that are in the top 15 tier, with Coventry University being number 13, and Warwick University ranked number 10. With the surge in Coventry’s population, mainly due to the influx of international students that come from abroad, landlords and estate agents in Coventry can expect an increase in demand for student rental properties. HMO or housing multiple occupants enables landlords to maximise their returns with the added convenience of the tenants being able to live in a property which is a type of accommodation that allows house sharing. Although landlords must have an HMO license on their property enabling multiple tenants to move in, investments in HMOs can yield excellent returns, especially those close to the universities or even friends’ house shares.
What to Look Out for When Investing in Coventry
We all know that investing in the right property with the right Coventry lettings agents for you is sometimes a challenge as well as a risk. With that being said, it is of course instinct to carry out research when parting with a big purchase. With the footprint of Coventry being 38 square miles, this makes it attractive to a diverse community to rent throughout the city for the likes of UHCW (University Hospital Coventry and Warwickshire) which sees hundreds of thousands of patients a year.
With Coventry being such a diverse city, it also has its advantages when it comes to areas to rent in the city. 3 of the best areas in Coventry are:
- Walsgrave: Ideal for people who work for the University Hospital
- Finham: Best known for being a great catchment area for Finham Park School
- Cannon Park/CV5 area: Ideal for students or working professionals who either study or work at the University of Warwick
Looking for a reliable estate agent in Coventry? Look no further than Elite Property! We have 25 years of experience in the rental and sales market.
Whether you’re looking to rent a property or buy one, Elite Property has got you covered. With the average rental price for a 3-bedroom terraced property being within the range of £800- £1000, this makes Coventry an ideal city for renting as the prices of properties do vary but are not overly expensive. For the landlords, Coventry is also an ideal city to invest in as the rental income of properties returns an excellent yield. Check out our listings for a wide range of options or get in touch with our expert team to discuss your specific requirements. With Elite Property, you can rest assured that you’ll find the perfect property to suit your needs – why not get in touch today?
