How to set rent prices
Posted on 28th April 2022
There are a few key things that we take into account when advising landlords on rent prices:
- The location of the property
- The size and condition of the property
- How much similar properties are being rented for in the area
- How much it has been updated recently
- The local amenities available in the area (shops, schools etc.) and how close they are to the property.
It is important to remember that the rent price isn't just about what the landlord wants, it's also about what the tenant can afford.
We have to find a balance between the two, because if it leans to the more expensive side, chances are the landlord will struggle to find a tenant. On the other hand, if the price is too low, then it wont be beneficial for the landlord.
We hope this blog post has been helpful and given you a better understanding of how we, as an estate agent, advise the landlord on what to set the monthly rent at.
If you would like more information or are thinking of renting out your property then please feel free to contact us today!
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Tagged as: Lettings
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