Working out realistic rent prices

One of the most important considerations for any landlord is deciding how much rent to charge their tenants. Many landlords make the mistake of charging unrealistically high prices, which can really limit your market and mean your property will stay vacant for longer than it needs to be, resulting in lost income for you. On the other hand, undervaluing your property will also mean that you lose out. It is important to strike the right balance to ensure that you can make a healthy profit while still attracting tenants.

One of the main things to consider is your mortgage. In general, your mortgage lender will require the rental income to be at least 1.25 times greater than the mortgage interest. It is also important to check how much other landlords are charging for properties of a similar quality, size, condition and location; this will give you an idea of what tenants are willing to pay. Prices can be checked online on sites such as Zoopla and Rightmove and on the sites of local lettings agents, as well as on sites such as Gumtree where private landlords offer their properties.

Of course, one way to make sure you are pricing your property appropriately is to consult an experienced lettings agent who has an in-depth knowledge of the local property market. They will be able to give you an accurate valuation of your property and ensure that your rent prices match, helping you to avoid the pitfalls of charging too much or too little. This is where we can help you.

We have been acting as a property management specialist and lettings agent in Camden and the rest of London for over a decade, and we will help to ensure you are charging fair and realistic rental prices for your property. Whether you own an entire block, estate or a single house or flat, we can handle everything from marketing to paying guaranteed rent. Get in touch if you would like to learn more about what we can do for you.