Balancing Act: Perfecting Rental Pricing for Landlords

How to maximise rental income

As a landlord, setting the perfect rental price for your property can often feel like a high-wire act. Set it too high, and you risk alienating potential tenants; too low, and your profits take a hit. But fear not, here’s a guide to help you find that sweet spot.

Understanding Your Local Market

Your first step is to get a firm grasp of the rental landscape in your area. Prices can vary significantly even within the same city, influenced by factors such as proximity to amenities, transport links, and the overall desirability of the neighbourhood. Use property comparison websites to gain insights into what similar properties are fetching.

Property Appraisal

Next, objectively assess your property. The size, condition, and any unique features (like a garden or a newly renovated kitchen) play a significant role in determining its value. Remember, what makes your property stand out can often justify a higher price tag.

Consider Seasonal Fluctuations

Rental demand can ebb and flow with the seasons. For instance, demand might spike in university towns at the start of the academic year. Timing your rental availability to coincide with these high-demand periods can enable you to set a more competitive price.

Flexibility is Key

Be prepared to adjust your expectations based on feedback and market response. If you’re not getting much interest, it might be time to reconsider your asking price. Conversely, if you’re inundated with queries, you might have room to increase it slightly.

Setting the right rental price is more art than science. It requires a blend of market awareness, property understanding, and a dash of intuition. The goal is to make your property both appealing to potential tenants and profitable for you. By staying informed and adaptable, you can navigate the rental market with confidence and success. So, step onto that tightrope and start balancing your way to rental pricing perfection!


Contact us today on 01273 77 88 77 or click here  to find out how we can maximise your rental returns. 


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Finding a mortgage

Buying a house is a massive investment and getting it just slightly wrong can be costly. Unless you have big savings, chances are you’re going to have to get a mortgage. It’s a loan secured against the property which means if you can’t meet the repayments the lender may repossess your home and sell it to get their money back.

The better you understand mortgages and everything to do with them, the better armed you will be to get the very best deal. With MMR in place, you’ll need to review your finances themselves before approaching possible lenders to see whether you can afford the monthly payments now and if interest rates go up, which they will…

What is MMR?

When it comes to finding a mortgage you have several options: mortgage brokers, individual banks or searching online. Again, it’s important to do your research. Searching online first, gives you a good idea of what’s available, but an independent mortgage broker can provide a more in-depth search and help you through the process. Being independent holds great value as they are not bias to any particular lenders or deals, they will give you their honest opinion and take away the stress of working your way through the mortgage market, they work for you to find you the best package to suit your requirements.

For more information on the current mortgage rules and deals, contact your local branch today to arrange an appointment.

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