Will My Property Rent For That Amount?
Generally speaking, yes, it will.
We put around £50 per month spread on the rental estimation because we know the market fluctuates, but 9/10 times it rents for the higher or even middle estimate, and sometimes even more, it depends on the market.
There is always a strong demand for rental properties, even in parts of the UK that we don’t operate in we know that statement is true.
When we’re finding a house, whether or not it will rent and whether or not there is good demand in that area are the key considerations.
Landlords have a few fears of having an empty property they can’t rent out. However, we have never seen this.
We have never found a house that we can’t rent out!
Of course, we put together a detailed and comparable report that utilizes RightMove, plus data to back it up but you can easily look online yourself and see what properties are renting in that area.
Don’t get us wrong- now and then there will be a house that gets passed onto our lettings team that has a few fall-throughs due to a potential tenant telling white lies about income or credit score and it will most likely delay the process.
At this point, we usually get asked, “Should we drop the rent?”
No, is the answer.
It’s the length of time that’s affected, not the amount.
So, don’t worry and wait it out.
Renting a house will achieve the amount we set on it. We put a guide on it, as we live in a world where things are always up and down, which is another point we must address.
It’s possible the rent could go down, but we have never seen it happen.
We’ve seen static rent levels, and sometimes, if you want a property gone fast, you can knock some money off the price. However, don’t underestimate just how sensitive house prices can be.
Just knocking twenty or thirty quid off can make all the difference and go from practically no enquiries to it being gone in a couple of days.
In for a penny, in for a pound.
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