Updating post from Reddit.
We have a 3 bedroom 1 bathroom ex council flat in Clapham Junction. Been incredibly lucky with amazing an amazing tenant for the last 4 years however it's their time to move on. We didn't charge much at all and now need to charge market rate. Very difficult to find a like for like rental on Rightmove etc because it's ex council. How do we work out what to rent it out for? Also any tips where to advertise? Keen not to get lettings agents involved.
3bed ex local in CJ would be about 2500 ish give or take depending on size, location and quality. Can be as much as 3400, could be as low as 2k. All depends. If you insist on doing it yourself don’t fall foul of the 180 pieces of legislation where if you do the tenants can claim back a year’s rent and so on. Additional licensing coming to Wandsworth in April, be warned!
Oh dear. Thank you for heads up. I clearly need to read up more!
Also Rightmove is a gallery of overpriced nonsense. If you want some genuine advice I’m happy to have a conversation. DM me. Foxtons and dexters are market leaders in overpricing, according to data they only sell 22-24% of their listings. Gee I wonder why….
ex council doesn't have as bad a taboo as it used to (depending on the estate)... look at market rate and reduce by 10-15%... the rental market is so strong the ex council won't scare off too many renters.
To be honest you would be surprised how much people pay for rent. When I last put up a rental I put it 10% higher and still got the asking price
Why not use a local letting agent on a Tenant find only basis.