Morningside's rental market meets three important tenant requirements
Category Long Term Rentals
The Durban suburb of Morningside, established in the 1950s, is known for its charming mix of Edwardian, Victorian and modern homes in attractive surroundings and boasts a flourishing residential rental market.
That's the word from Lee-Anne Naik, the Chas Everitt International long-term rentals manager for Morningside, who says demand is currently being driven primarily by young couples and families who see great value in living here.
"Apartments, in particular, are showing very good rental uptake as the area ticks all the right boxes for those starting their lives together and growing families: It is affordable and, centrally located, and its homes are secure."
She says the biggest drawcard for tenants is the affordable monthly rentals that can range anywhere from R4800pm for a one bedroom apartment to R6800pm for two-bedroom units and R9000pm for three-bedroom homes.
"Tenants generally prefer two-bedroom apartments in the R7000 to R9000pm price range, complete with safe and secure parking."
Naik says security is a major factor for just about anyone buying or renting property, and that fortunately for tenants moving into Morningside, they have a wide variety of secure apartments to choose from.
"According to the FNB Area Report for Morningside, approximately 93% of all residential properties here have security gates, while a big percentage of properties also have walling for heightened security around the perimeters."
The central locality is the third important factor that draws tenants into the suburb, she notes.
"Bordered by Berea and the Umgeni River, Morningside is just an eight-minute drive to the city centre, and 10 minutes from North Beach, 19 minutes from Westville and 20 minutes from uMhlanga.
"Residents also have access to a number of amenities and attractions on their doorstep such as Windermere Shopping Centre, Musgrave Centre, Netcare St Augustine's Hospital, Greyville Racecourse and Mitchell's Park.
"And the suburb is popular among families because there are high-quality schools just a short drive away."
These include Morningside Primary School, Clifton School, Livingstone Primary School and Maris Stella School. For tertiary education options, it is also close to the University of KwaZulu-Natal and the Durban University of Technology.
Naik says that due to the high number of Edwardian and Victorian-style buildings, many apartments here have large living spaces, balconies and garden areas that are very sought-after by tenants.
"And at the other end of the spectrum, there are those who prefer the sleek modern apartments that are coming on to the market now, particularly on Windermere, Innes, Florida and Gordon roads."
Age of tenants
She says that because of the variety of properties available in Morningside, the age of tenants ranges from 25 all the way up to around 50, with most earning an income of R15 000 to R25 000 a month. Those earning a higher income, from around R40 000 a month tend to be investors buying apartments for the purpose of letting them out to tenants.
A three-bedroom apartment that Chas Everitt International has been mandated to sell is a good example of the type of property that attracts tenants with families. The apartment is spacious, safe and boasts excellent sea-views from every room. It has an open-plan design and a kitchen with built-in cupboards. There is also a communal swimming pool for all residents to enjoy.
Due to its affordability, central location and security, Morningside will continue to be one of the most popular choices for residential tenants in Durban. To find out more about the apartments available to rent in this flourishing suburb, speak to our helpful agents from Chas Everitt International today.
Author: Chas Everitt International Property Group