WANT TO LEARN WAYS OF MAKING THE MOST OF YOUR INVESTMENT PROPERTIES?
First of all, how do you know the maximum rental price? There is of course an easy answer to this; The maximum rent is the highest price someone is willing to pay at a particular time.
However, the bad news is that the rent achieved can change all the time. It is also the sad truth that agents deliberately inflate their rental quotation to win your business. So to avoid being tempted by what we call the “dream rent” here are 5 tips that you need to consider when setting the rental price. Use property portals to research the market for similar properties (making sure that similar properties are genuinely equivalent in terms of location, size, quality and amenities.
Be honest about your property; we all think our property is the most appealing, this can lead to a false comparison. Be sure to select an agent you can trust with a proven track record of letting similar properties and experienced in the lettings industry. Minimise void periods; in general, setting your rental price too high will increase the risk in your property being empty. Setting the rental price at a genuinely realistic figure will minimise the voids and increase your number of offers, thereby giving you more choice of good tenants and a smooth tenancy.
For more advice or further information, call 01932 22 21 20 or visit our Walton on Thames Property Community Group on Facebook group for more tips.