Advertise room to rent the right way and you will have a great tenant who pays their rent on time and respects your property. Advertise room for rent the wrong way, and your listing will simply gather dust while you wonder where on earth you went wrong.
One of the areas where new landlords often get it wrong is in regards to their rental rates. If you want to rent a room out, it is important to have a competitive rent amount, which covers your expenses, gives you a bit of profit, and helps you to find a good lodger. Most landlords end up setting their rent price too low or too high when looking for their first tenant. If your rent is too low, you may attract more applicants, but you may find that a lot of them aren’t a very good fit. Plus, how do you expect to make a decent profit if your rental amount just covers the expenses? Equally, if your rent is too high, you are going to put people off, and you lose potential tenants to landlords with similar properties and rooms available. You need to set your rate at a level that is competitive for the neighbourhood. This means conducting research online and in local newspapers so that you can gather the necessary information about average rental prices and vacancy rates. You will learn if you need to adjust to fit the market by doing this.
If you are ready to advertise room to rent, Bellrooms Ltd can assist. At the moment, you can post up to 20 rooms or spaces on our website free of charge, which you can manage via the ‘My Account’ page. Simply head to https://www.bellrooms.com/, give us a call on 01483 698 677 or send an email to [email protected] Ltd.