Can you tell me how much rent I should charge?
What rental you can ask is determined by market conditions, demand and location. The aim is to get the highest rent with the lowest vacancy time.
Consider what properties are leasing for in your area, as well as what else is on the market at the time of leasing the property out. Tenants are looking for the best possible rental within their budget and will keenly compare the features of your property with others on the market.
We look at what other properties have leased for, how long they took to lease out, what’s currently on the market and how long it’s been on the market. This enables you to make an educated decision around how long you are prepared for the property to be vacant in order to achieve the highest possible rental.
Don’t forget there is scope to increase the rent as time progresses. Your property manager should advise you on the frequency and amount of rental increases.
Want a free no obligation rental appraisal? Contact our team of leasing experts.