Rental Stats

Welcome to Home Relief Bulletin Board

Monday 04 June 2018

by Lettings and Management Team

Post No. 39

 

How to Understand and Use the Key Rental Statistics

This week we are working with prospective tenants and home seekers about the key statistics making the rental indicators.  In particular, we will together try to analyse and understand them, as well as provide individual support to make an informed decision and choice about renting.

Before agreeing any tenancy agreement, it is always a good idea to check key rental statistics or quantitative data related to the area in which the property one wants to rent is located.  Double check them prior to any renting!

Most landlords/ladies and letting agents acting professionally would provide this information to their prospective tenants or home seekers as part of their letting process and property file. 

However, if they do not, it is important to ask them.  Alternatively, you can do your own searches on papers and online.

Statistics or numbers matter.  There is a saying that statistics or numbers speak for themselves.  In reality, statistics or numbers do not speak for themselves unless you or they explain the reality behind them. 

Home seekers or prospective tenants have to check if rental statistics or numbers work for or against them.

What are these key rental statistics we are talking about?  They are those related to the following indicators:

• Council tax: how much you have to pay if this tax not included in the rent

• Commute time: how much time will take you from your targeted property  to rent to a work place?

• Travel cost: how much (for example weekly or monthly) will it cost you to travel from your targeted property to a work place?

• Local amenities: read the reviews about them (how many stars in the review?)

• Crime: check if the number of crime is below average nationally or within the borough

• Schools: check Ofsted reports if children involved in your property rental application

• Local resident and neighbourhood: who are the local residents?

• Public persons:  can you find any public faces, how many?

• Working families: are they working families like you?

• Rent reports: what others are saying in terms of numbers about renting in that area

• Health: how miles do you have to travel to the local GP, dentist, optician, hospital?

• Trusted sources of information: check what different print and online sources of information (such as local press, social media, property letting websites, property search engines, local radio and local TV networks) are saying about the area in terms of statistics

Compare and contrast what everybody is saying about the same area and determine how these stats or numbers speak for or against your choice of property to rent. 

Just like any other home seekers, average income earning families are looking for properties in a local area where these above statistics speak for them. 

If you are one of them, do the homework by checking the key rental stats before you agree anything.

If you cannot do it by yourself, Home Relief can work with you to check that stats are working for you in the area you are contemplating to rent.

Need to a property to rent and need to check the key rental stats first, contact Home Relief NOW. 

For more information about our letting service to prospective tenants or home seekers (including other support), please go to https://homerelief.co/tenants/

For weekly property news and updates, please read our weekly posts.

For properties search, go to https://homerelief.co/property-search/

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you.

Many thanks!

Home Relief – an e-property letting agency that relieves your needs

 

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