Leeds estate agent HOP’s Pudsey office is reporting its busiest ever start to the year as it embarks on an office refurbishment and the company takes delivery of a new fleet of branded cars.
HOP’s Pudsey branch specialises in rental properties for professional tenants and manages a residential portfolio worth £124 million, throughout West Leeds’ popular towns and villages, and into both Leeds and Bradford.
The company’s most recent stats reveal some interesting facts about the current state of the rental market in the city. Approximately 20% of HOP’s tenants are currently renting whilst they search for a home to buy, up to 40% are currently saving for a deposit, whilst 40% are serial renters who appreciate the flexibility that renting a home affords them.
The Leeds rental market is currently moving incredibly quickly, with many properties renting within a matter of days and, in some cases, just hours of being listed. As a result of the surge in business, HOP’s Bradford Road premises is now benefitting from a major refurbishment programme to accommodate more visitors.
The refurbishment will see the office being redecorated, new flooring fitted, and modern new furniture installed, along with the addition of a large screen in the window to showcase the company’s properties and services.
This follows HOP’s office network, in Leeds city centre, Horsforth and Pudsey, recently taking delivery of a brand-new fleet of cars.
Tom Wild, who heads up HOP’s Pudsey office, said: “We manage a vast portfolio of properties across a wide catchment area spanning Leeds and Bradford and beyond, and this is the busiest start to a year that we’ve ever known.
“The shortage of stock of homes for sale is definitely having an impact on the rentals market. A fifth of tenants renting with us are doing so because they have sold their property and are waiting for the right home to come up for sale. This, in turn, is having a knock-on effect on the kinds of properties that are in demand.
“In recent weeks we’ve let a large home in the Yorkshire Dales for £2,200 per month and a five-bedroom home in Cookridge for £1,600 per month, in just a couple of days. Three-bedroom homes are currently extremely sought-after and are being snapped up within a matter of hours of listing them.
“Our continued investment in technology means we offer detailed interactive Matterport virtual tours as part of our marketing package. These tours, alongside accurate descriptions and professional photography, have resulted in an increasing number of tenants signing up for properties without even visiting them in person. In fact, 10% of tenants will now sign for a property from the virtual tour alone, without physically viewing it, in order to secure a home more quickly.
“We’re keen to replenish our stocks of quality rental properties and would urge both existing landlords and any empty property owners to contact us now.”
Luke Gidney, Managing Director at HOP, added: “Even though we invest heavily in technology, social media and our online exposure, it’s still vitally important to have a physical presence in the local community. With that in mind, we’re very pleased to have taken delivery of a new fleet of cars for our sales and lettings teams, which are highly distinctive and a key marketing tool for our business.
“It’s also an exciting time for our Pudsey office, which is benefitting from a major refurbishment as we continue growing our presence, and our team, in the town.”
