Getting Market Rents for Your Properties

A business owner knows that as the world changes around them, they need to adapt. All too often, good, solid businesses are forced to shut operations because they were unable to adapt to changing business situations. The current economic crisis has bought with it a whole host of new dimensions to the world of property investment.  

For a landlord, these changes can be viewed as problems. On the other hand, they can also be viewed as opportunities…

 A recent article in The Times has highlighted the fact that an increasing number of ‘would be’ homebuyers are now looking to rent.  

Increases in bank mortgage rates have now made the economics of renting cheaper by approximately 2%. So there is an increasing number of people out there who are looking to rent. This is great news for landlords since the market for rental accommodation has just got bigger!

 There is no reason for you to rent out a property at anything less than the value it deserves. However, determining the market rent and achieving it is never easy. You must get comparable values from local letting agents and then present your property in such a fashion that tenants are happy to pay the market rent i.e. the rent that you want!