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Morningside a magnet for tenants, investors

Category SA Property Market

The Durban suburb of Morningside is a popular residential destination due to its central location and affordability. It also enjoys strong demand for rental homes and is consequently attracting an increasing number of buy-to-let investors.

According to Lee-Anne Naik, Morningside rentals manager for Chas Everitt International, rentals in the area are relatively high, especially for properties that are well-maintained. On the other hand, levies and rates are generally reasonable, which means that investors here can expect good returns.e is perennial demand for rental homes here, so vacancy levels are also very low. In fact, properties listedwith us will typically be let within a week.

"The most sought-after units are two-bedroom apartments with parking at rentals between R6500pm and R8500pm. Fortunately, most properties in the suburb cater to these requirements and this makes it easy for owners to invest and for tenants to find their ideal rental homes.”

Naik says most tenants in Morningside are in the 35-50 age group and are either single or have a small family, “and the highest percentage of enquiries we receive come from professionals including doctors, nurses, teachers and engineers”.

This type of tenant is primarily attracted to Morningside, she says, because the suburb is well-located close to prominent commercial precincts such as the Durban CBD and the Umhlanga CBD, which are respectively 14 and 15 minutes’ drive away.

“In addition, many of the homes here boast state-of-the-art security, and many of the apartments have 24-hour security and electronic access systems. Residents here also enjoy easy access to shopping centres, restaurants, schools and hospitals and most properties are situated on bus and taxi routes.”

To find out more about renting or investing in property in Morningside, contact our helpful agents on 031 3031704.

 

 

Author: Meg Wilson

Submitted 12 Oct 18 / Views 334