Fair Property Rent.

fireman · 26-06-2006, 16:23

What would be a fair rent for a one / two bedroomed semi detached true bungalow in a nice area of Accrington. The bungalow is fully furnished although a little old fashioned. It has a lovely, and quite large garden with a greenhouse and a large garden shed. It is fully double glazed and central heated. We are not sure of what would be a fair rent and do not want to put it in the hands of an estate agent for him to take a lump for doing very little.

cashman · 26-06-2006, 23:32

go in a few estate agents - tell em your askin for a friend thats movin up here,and they want summat similar, then you can figure out whats ok. best i can do mate.

jambutty · 27-06-2006, 09:37

You could consider a weekly rent over ten years that equates to what you paid for the property and its contents or its current value. For example if the property has a value or cost you £52,000 the weekly rent would be £52,000 divided by 520 – that is £100 per week. Or you make the same calculation for a 15 years period to end up with £66.67 per week.

Or if you have taken out a 10 years mortgage to buy the property then divide the mortgage by 520 (ten years). For a 15 years mortgage then divided by 780.

Or you could try and find out what the council or a housing association charges for a similar property and then add something because it is furnished.

Over and above all that you would have to add something to cover the cost of any repairs and annual maintenance.