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This property has been vacant for a few weeks, and the rent has barely increased in the past 20 years ā despite it being a modern build in a central location with great transport links.Ā
So why isnāt it renting for more?
Because the market has changed. There are now many higher-quality properties competing for the same tenants. To stay competitive, Iāve had to price it lower than Iād hoped ā even if, as the owner, I think itās worth more.Ā
In this episode, I explain:Ā
- Why your opinion of your propertyās value doesnāt set the market rent
- How comparable listings shape what tenants are willing to pay
- Why good agents can save you weeks of voids by giving you realistic advice
- The importance of pricing for demand, not emotion
If youāre a landlord struggling with a vacant property, this will help you make the right pricing decisions.
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#UKProperty #LandlordTips #BTL #PropertyLettings #RentalMarket
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Stay connected and get more insights on how I grew my property portfolio in just a few years alongside my day job and became financially free from it.Ā
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Badar Ahmed PhD.Ā