Carrying out rental valuations as a landlord can often be an extremely daunting task, and it’s often difficult to know where to start. There are two ways that you can approach carrying out rental valuations that we will go on to discuss below.
Using Property Portal Sights
Sites like Rightmove and OnTheMarket are a great way to start your property valuation. They will help you to gauge an idea as to how other landlords are pricing similar properties to your own and the kind of offer that they hope to receive.
Things To Consider
- The location that the property is in; is it a reputable area; are there shops nearby; how far away is your property from public transport links? These will all factor into the price that you decide to charge.
- The quality and furnishings of the property; is it a new build; is it a luxury apartment; is it furnished or unfurnished?
- Additional Features; is there free parking; how secure is the building; are there any shared rooms or communal areas; is there an on-site gym?
For example, if you were to carry out a rental valuation on a two-bed apartment in Trafford, Greater Manchester, you would probably consider charging a similar price to the ones below.
Use An Experienced Advisor
On top of using property portal sights, you may also consider using the expertise of a letting agent. Websites don’t always show an accurate reflection of the housing market. With the extra seed of knowledge, you will be able to let the property much sooner, without fear of over-pricing your property.
Here at Pad, we have access to huge amounts of data from our previously ‘let’ properties as well as knowledge of current demands and potential tenants searching for new homes. Additionally, we conduct condition reports and can make any necessary recommendations to you, regarding maximising the rental amount and providing a realistic valuation.