How to maximise your rental income
Of course you want to make a decent income from your property, but setting your rent too high can put tenants off – especially if they have lots of properties to choose from. Even just £25 a month extra can deter them so it’s essential to charge an appropriate rent for them, which still gives you a good return:
Location. Where your property is based can have a big impact on rent.
Furnished or unfurnished? Are you including full furnishings and appliances, part furnished or completely unfurnished?
Desired tenants. Who are you trying to attract?
Amenities. Local schools, parking availability and parks and recreational facilities all need to be taken into consideration.
Desirability. You need to factor in the condition, size and accessibility of your property when setting rent.
To give you an idea of what other landlords are doing in your area, check out some property websites (such as Rightmove or Zoopla). The HomeLet Rental Index will also give you some up-to-date market information.