Welcome to Home Relief Bulletin Board
Monday 07 September 2020
by the Property Team
Post No. 157
What to do for your property to command a decent rent regardless of seasons
This week we are working with landlords/ladies and home owners to determine ways of setting up decent rent levels regardless of seasons (including in difficult times like of the coronavirus pandemic).
Getting expert advice about your asking rent
Before issuing a tenancy (for example an assured short hold tenancy agreement), it is advisable to seek expert advice about the levels of rent that your property can generate. It is important to seek this kind of advice so that you do not charge more or less than what your property really deserves.
There are benefits in seeking expert advice on the rent level. One of these benefits is that it helps to avoid any potential conflicts (such as unpaid rents or rent arrears) with tenants over the level of rent you are charging in the course of the tenancy period.
Where to get rent advice
Rent advice can be obtained from various sources or experts on the rental market. It can be given by a local rent officer, a letting agency, a rent valuation office, etc.
You can even get it online through various websites having properties rent valuation features or online rent calculator. Some of these rent services are free of charge without obligations.
Working with Home Relief to set up a rent policy
This week, what we are undertaking with landlords/ladies is not only fixing a rent for a particular property. It is also trying to develop a rent policy and structure for our clients so that their properties could command a rent level that is fairly good or decent irrespective of seasons (i.e. Winter, Spring, Summer, Autumn, busy, not busy, EU exit, Covid-19 time, etc.). Why?
There are various reasons that contribute to a good rent policy or structure. There could be changes in the rental market and the economy with ups and downs. Likewise, your property may not be the same when you last refurbished it.
In the above circumstances, what can you do for your property to command decent rents regardless of seasons, regardless of lows and highs in the rental sector? Landlords/ladies need to bear in mind that each property is a particular case that needs to be treated on its own. There should not be a one-size-fits-all rent policy.
What is a decent recent in times of the coronavirus pandemic and potential lockdowns
In times of the coronavirus pandemic and potential lockdowns, it is recommendable to get all the facts and data right and clear before making any decision over the rent. There are already conflicting stories and messages about the performance of the property market and the way the rental market is reacting over this time.
Any decision made over rent has to be based on verifiable statistics rather than commentaries and speculations made by the mass and social media. To make the right decision, each property case has to be treated individually with all the determinant market factors and conditions. This should be done while considering the short, medium and long term changes.
If you are a landlord/lady and or home owner and would like your property generates a level of rental income that is respectable or decent but you do not know where to start and how to go about it, Home Relief can work with you to determine the decent rental value for your property.
To get advice about the decent rent level for your property to let, contact Home Relief.
To know whether this week’s session on Decent Rents can or cannot work for you as a landlord/lady, contact Home Relief as well.
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 the year.
Home Relief – freelance e-property people dealing with affordable homes