Author Topic: How to find the mark to market rent  (Read 1773 times)

Jacinle

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How to find the mark to market rent
« on: May 28, 2021, 03:31:42 AM »
Hi

I am helping my friend to find a rental in a commuting town outside London and the thing baffles us is there is not much pricing information available in the open. Especially for area that has less rentals, and quite highly sought after during pandemic as people look to upsize.

We are wondering how we can get more information in these kinds of markets to make a 'reasonable' offer.
It seems the only way is thru the estate agents.

Jac

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Re: How to find the mark to market rent
« Reply #1 on: May 28, 2021, 04:38:22 AM »
Pretty much, but Rightmove and On The Market should give a reasonable idea.  I don't think there is much negotiating down from published offers unless perhaps a property has been up for a while.

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Re: How to find the mark to market rent
« Reply #2 on: May 28, 2021, 05:25:34 AM »
Rightmove investor newsletter will send you updated information on sale and rental prices in a postcode area (eg AB1) every month. It won't help if you are looking at a very specific area.

I agree that there isn't much negotiating at the moment. You can check for "Let Agreed" places to understand more about how many properties are being let and the general price range.

vand

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Re: How to find the mark to market rent
« Reply #3 on: May 28, 2021, 11:26:04 AM »
Search Rightmove/Zoopla and make use the Include Let Agreed" option so you can see all the properties that have been let.
OpenRent too will show let properties so you can judge what the market price is.

I'd be flabbergasted if you couldn't work out the going rate just using these portals unless it's eg a very unique property.

Jacinle

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Re: How to find the mark to market rent
« Reply #4 on: June 11, 2021, 01:39:33 PM »
Search Rightmove/Zoopla and make use the Include Let Agreed" option so you can see all the properties that have been let.
OpenRent too will show let properties so you can judge what the market price is.

I'd be flabbergasted if you couldn't work out the going rate just using these portals unless it's eg a very unique property.

Thanks for the tips, the Include Let Agreed option did help

Another question but on sale price, is below the date sale agreed / exchange / complete?  Trying to work out the rate in this crazy market.

Thanks

Guide Price £675,000

3 bedroom semi-detached house
Marketed until 02 Feb 2021

Last available sold price: £650,000 18 Dec 2020

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Re: How to find the mark to market rent
« Reply #5 on: June 12, 2021, 11:58:15 PM »
The sold date will be the completion date: the information comes from Land Registry and they only get the information after everything is done. The marketed to date is probably the exchange date, could be the sale agreed date, most properties continue to be marketed with a "sale agreed" tag.

 

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