As a landlord with a property to rent, there is a very simple way of finding out how much rent you should charge. Simply, look on letting websites at how much similar properties in the area are being rented out for – websites such as Zoopla, Rightmove, as well as any other local letting agents who advertise online. By looking at similar properties to yours, in the same street or similar areas, it will give you the right idea on how much rent to charge as a landlord.
Also, take into account the demand in the area. If there is a high turnover of properties then you should be able to find tenants by pricing it the same as the other similar properties. However, if the market is quite stagnant, you may want or have to charge a lower rent than everyone else to get it rented out quicker.
Extra facilities and advantages your property has over others can mean that you can charge more rent. This could be in the form of a conservatory, a garage, new modern decor, a garden, private parking, and so on. Similarly, the disadvantages in your property will mean that you charge a bit less. If you do not have energy efficient heating or windows, if the decor is a little old, or if you have no parking then this can mean you might have to charge a bit less than similar sized and style homes in the same area.
Another option to finding out how much rent you can charge is of course to seek the advice of a professional letting agent, such as us here at Vesper Homes, as this is something we deal with on a day in day out basis, and we can advise you as to how much rent you can expect to get.