How to Maximise your rent
Posted on 22 November 2011
How Do You Determine the Best Rent For My Property?
It's a balancing act. We aim to get you the best possible rent and tenant your property in the quickest possible time. To do this, we consider these factors:
- Demand - Is there a high or low demand for properties at the moment? Demand can be seasonal or can be affected by a several other factors.
- What Is Available Now - we look at properties currently available for rent in the newspaper and on the internet, consider their location and features for comparison and calculate a maximum rent for your property.
- What We Have Rented Right Now - We compare your property with what we have currently rented, taking into account property location and features.
- Presentation of the property – is it new, recently renovated or in need of a spruce up
- Fully furnished or unfurnished
- Length of time the property is available
We are local experts, so we can give you the right information to help you set the best rent for your property.
What if I want a rent amount that is higher?
You can certainly place your property on the market at a higher rental amount. Keep in mind that the current market demand strongly affects rent - so if prospective tenants think the rent is too high, your property may stay vacant for longer.
The facts - your annual rental return will be reduced by 2% for every week it is vacant!
How is the rent reviewed during the time that you manage it?
Our team at Housemart makes sure your rent is reviewed regularly against market conditions.
- We check your rent
- When we need to find a new tenant for your property
- At lease renewal time
- Every 6 months (as a condition in the Housemart tenancy agreement)
We will always contact you for your permission before the rent is increased. Feel free to get in touch with one of our team today.
