Rental Data

Welcome to Home Relief Bulletin Board

Monday 03 June 2019

by the Property  Team

Post No. 91

 

Key Rental Information

How to Understand and Use the Key Rental Statistics

The week starting on the 3rd of June 2019, we are continuing our work with home seekers and prospective tenants about rental information. 

Last week, it was about mis-renting information.  This week is about the key rental information (both qualitative and quantitative) that can be translated into 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.

• Checking that rental data work for you as home seekers

Before agreeing any tenancy agreement, it is always a good idea to check key rental information which sometimes is given in terms of statistics or quantitative data.  These information or indicators are related to the area in which the property one wants to rent is located.  It is even wise to 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 filing.   However, if they do not, it is important to ask them.  Alternatively, you can do your own searches on papers and online.

This information matters and if it is given in the form of statistics or numbers, they count as well.  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.  Thus, home seekers or prospective tenants have to check if rental data (expressed in words or numbers or both) work for or against them.

What are these key rental data or statistics we are talking about? 

• Rental indicators and data

They are those related to the following:

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

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

hr) Transport choice: What the area says about travelling by car, bus, trains, trams, cycling etc. How long it will take for each them from your new home and place of work or study.

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

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

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

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

hr) Local resident and neighbourhood: who are the local residents?

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

hr) Working families: are they working families like you?

hr) Rent reports: what others are saying in terms of numbers about renting in that area and about the levels of rent charged in the area.

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

hr) Pollution: what is said about the level of air pollution, recycling schemes, rubbish collection in the area.

hr) 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 data (both qualitative and quantitative or stats/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 the types of information or statistics speak for them.

If you are one of them, you can do the homework by checking the key rental information or stats before you agree anything.  You can check them in the print and online press, via social media networks or any other rental platforms.  Likewise, you can ask your prospective lettings or landlords/ladies.

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

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

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

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

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

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout 2019.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

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