Setting the Right Price

Determining the right rental price is a critical aspect of property management. We start by conducting a thorough analysis of similar properties that have been let in the area within the past year. This gives us a solid foundation for setting a competitive yet profitable rental price. However, we also adjust these figures according to current market demand, ensuring that your property is priced optimally at any given time.

One crucial factor that landlords often overlook is the search behaviour of potential tenants on property portals. Most people search in bands of £100, which means that even a slight overpricing can result in your property being invisible to a large segment of your target audience. For example, if your property is listed at £1025, it won't appear in searches for properties up to £1000. It would only show up in searches for properties up to £1100, which are far less frequent. Moreover, within that search band, your property would likely appear lower in the list, overshadowed by properties priced closer to £1100.

Therefore, pricing isn't just about gauging the value of your property; it's also about understanding tenant behaviour and search algorithms. Striking the right balance is crucial. Overpricing can lead to longer vacancy periods, while underpricing may attract less desirable tenants. Our nuanced approach aims to avoid both extremes, ensuring that your property is seen by the most relevant audience and let out as quickly as possible, all while maximising your return on investment.