Cherry Tree branching out in rent market

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DURING his 36-year career, Malcolm Myers’ passion for business has brought him into contact with the worlds of rally driving, clothing and property.

His latest venture, Cherry Tree – Letting Homes of Excellence, reflects the soaring demand for rented properties in areas such as Harrogate, at a time when many young couples are struggling to get on the property ladder.

According to Mr Myers, Cherry Tree builds on the success of MSM Properties, which provides property management services.

MSM has got 125 properties on its books in Leeds, Bradford, Halifax and Preston. It was founded in 2007, just before the economic crisis caused by the collapse of Lehman Brothers.

The company has grown steadily during a period of economic turmoil, largely through referrals and recommendations.

Mr Myers offers a “hands on approach” that enables clients to sit back and let MSM deal with the day-to-day running of the property.

Mr Myers will, for example, check tenants’ references and collect rents.

He will also make sure that the properties aren’t allowed to deteriorate during the term of a tenancy.

By the end of the year, Mr Myers hopes that Cherry Tree will have 100 properties on its books in the Oakwood, Moortown, Shadwell, Alwoodley and Roundhay Park areas of Leeds.

He also plans to manage properties in the Harrogate district.

“I’m proud to announce the expansion of my company. The rental market is booming and I see that continuing for the foreseeable future,’’ said Mr Myers. “There is a huge demand for properties. More and more people need to rent, and landlords want the best possible rental income.

“I love to set myself goals and like to be hands-on when managing the company.

“We haven’t borrowed any money from the banks and we use a team of hand-picked craftsmen.”

Mr Myers’s family owned Sydney Green (Leeds), a clothing business that employed 100 people during its heyday in the 1970s.

As a child, he was a gifted footballer, who had a trial with Leeds United during the Don Revie era.

Mr Myers developed a passion for motor sport, and went on to compete in the Lombard RAC rally. His experience as a rally driver taught him a great deal about the importance of focus and self-discipline. His rallying days may be over, but he still finds “thinking time” while driving a classic car.