Valuing Property For Rental
Valuing property for rental is an easy one. While you should be calculating your potential rental income to offset any loans or mortgage you may have on the property the fact is you want to price your rental property at a level that will attract good renters. And the simplest way to work out the rent you should charge is to see what other properties are being advertised for.
Have a look online and in local papers and do a search of properties that are similar to yours; in location, bedrooms, bathrooms etc. If you check online it will also allow you to see your ‘competitions’ photos! A great way to see how they are furnished for letting, what the price is and fluctuations in different areas. Try not to extend the search too far, Sliema Sea View prices vary from Msida Sea View.
Try to keep an objective view of your own property. It is tempting in a buoyant rental market to actually price yourself out of the game! A perfectly presented property will be worth more than a property with tired bathrooms and dated furniture, however charging too much rent could result in your investment lying empty for long periods of time.
Do the maths – by listing your property at market level you can have a tenant for many years!