Home.co.uk’s Chester Market Rent Summary says that the average rent in Chester is currently £881 per month.
Landlords in Chester can earn an average £643 PCM for a one-bed property, £771 PCM for a two-bed property and £896 PCM for a three-bed property. A four-bed property in Chester will earn an average £933 PCM in rent and a five-bed £1,298 PCM.
According to Liveyield, Chester offers buy-to-let investors strong yield potential. They say that Chester letting yields are 6.8% in the Chester CH1 postcode and in CH2 5.7%, in CH3 4.6% and in CH4 6.5%.
For landlords who want to invest in Chester holiday rentals, a search with holiday accommodation rental site Cottages.com shows that a Chester area holiday property let can earn anything from £388 per week to £1,865 per week during the summer depending on size.
As property prices and rents can be high in Chester it may also be worth looking at opportunities for providing good value shared accommodation in the city.
If you’re thinking of investing in the shared accommodation or the HMO market then you need to know that Cheshire West and Chester Council has an Article 4 Direction in certain areas.
These are Garden Quarter (which is particularly popular with students), Newry Park and King Street so you will need planning permission to set up a new HMO.
Interested in renting out your property or renting a house or apartment? Contact us today and our team of experts will be happy to help.