It seems an obvious thing to say, but it is crucial to get the price of a rental property correct if you want it let.
We have recently experienced a situation where a one bedroom flat in a prime Farnborough location came onto the rental market at £850pcm. Of course, we wanted to achieve this level for our client as other similar flats had let at this level in the past, but we saw very little interest from prospective tenants. We discussed the situation with the landlord in question and agreed that to create more interest we should reduce the price to £795pcm. This was only a reduction of £55 a month, but within a week we had three viewings and a full price offer from an applicant wanting to move in within ten days.
So, the key to a rapid, successful rental is to get the price right. After all, the tenant most likely to rent your property may well have seen quite a few similar, having done their homework, becoming quite the ‘expert’ on similar properties at that particular time, ultimately knowing what represents good value.
If you are struggling to let your property and not getting any feedback from your agent, give us a call and we will be happy to discuss the market and where the strongest demand is coming from, 01252 514000, firstname.lastname@example.org.