How Much Is My Property Worth?
One of the hardest things to do when advertising a property is to get the asking price right, you want to achieve a fair rent without pricing yourself out of the market! The best advice I can give you is to have a look on the portals (Zoopla, Rightmove and On The Market) and see what is currently on the market that will be in direct competition with your property and see how the property compares in size, decor and location. Also it’s worth looking at what has recently been let and you can do this by going into the advance search and ticking a button which will say along the lines of ‘Include Let or Let Agreed Properties’ this will show you the properties not only on the market but that have also recently been rented so you get a better feel for the price.
These searches will give you an indication of where your property sits and guides you to an achievable rental price without the need of a rent reduction in 2 weeks time when there has been no interest on the property.
Finding a good long term tenant, paying a good rent is by far better than a tenant paying a higher rent but being a nuisance and because they are paying a high almost treat the property as a hotel and ring with very minor maintenance issues 24/7.
Sty tuned for tomorrows article on how to achieve the best possible rental price.