How do I find the right rent for my flat?
From location, size, condition and comparable rents. Too high means a void period, too low gives income away. We establish the market rate.
How to find the right rent
The right rent decides between success and a flat standing empty. It follows from location, size, condition, fittings and current comparable rents in the area. Anyone who sets the price by feel risks losing income in both directions.
What goes into the rent
These factors determine the market rent:
- location and transport links
- size, layout and condition of the flat
- fittings such as balcony, heating or parking space
- current comparable rents in the area
- statutory rules that may apply depending on the flat
Watch out for statutory limits
Not every flat has a freely negotiable rent. Depending on the year of construction and the category, statutory upper limits may apply. Anyone who overlooks this risks later repayment claims. We check which rules apply to your flat and set the price at the market rate within the permitted range.
A valuation is the basis
A market rent builds on a realistic assessment. How that comes about is set out in how a property valuation works. Only on that basis can the price be justified soundly instead of guessed.
Keeping an eye on the price
The rental market changes constantly. A price that was at market rate three years ago can be too low or too high today. With a new letting it is therefore always worth a fresh assessment rather than carrying the old figure forward. Existing tenancies may also allow adjustments, depending on the contract. We check what is permitted and sensible in your case and make sure your flat is neither let below its worth nor left empty because of too high a price.
At market rate and justified
We establish a market rent for your flat and justify it in a way you can follow. That way you let quickly and sustainably. How fast the letting then goes is set out in how quickly a tenant is found. What to look for in the selection is shown in the article on choosing tenants. Request your rent assessment.