If you choose to rent out your apartment, one of the first questions is – which price? At the same time, the issue is relevant not only for those who do this for the first time but also for those who rent an apartment repeatedly, since the cost of renting housing is continually changing, depending on the current situation on the market.
If you want to avoid the downtime of the apartment because of too high a price or, conversely, to put an amount too low and to lose potential income during the lease, we recommend that you evaluate the current state of rental rates each time before the publication of the announcement.
Compare with Analogues
The easiest way to navigate in prices is to compare the price at which similar apartments are offered in your area. Unlike commercial real estate, rental rates for apartments are formed not by one sq. M., But in general for the object. Therefore, you need to focus on such an indicator as “Number of rooms.”
- “Age” of the announcement- Analyzing the cost of apartments for rent, pay attention to the term of the announcement published in the Internet resources. The optimal time for renting rented properties in Noida in the middle price segment is 10-30 days. In case the announcement “hangs” longer, the cost of the object offered for rent is probably overestimated and cannot serve as a guide.
- A new building or an old house. Prices for these two categories of apartments are not comparable, even if they are next to each other. To evaluate your apartment, choose for comparison the options in the houses of the corresponding year of construction.
- New apartment – the highest price. If your apartment is in a new house (up to 5 years), only after repair and equipped with high-quality furniture and household appliances, boldly focus on the maximum price. There is always a tenant who wants to rent an apartment in which no one has lived, and pay a higher price for a new object.
- Low floor – discount- Rental rates for rented properties in Gurgaon on low floors, and especially on the 1st, are approximately 10% lower than on higher floors. The discount is made for certain inconveniences: little sunlight, dust, an increased risk of theft or hacking.
- Design – 10-20% plus. Apartments, in which all elements of the interior are harmoniously combined in one style, are always more attractive for potential tenants. As a rule, modern design is considered more popular (for example, minimalism or high-tech), because tenants, mostly young people.
The main thing is a reliable tenant!
And one more tip: when negotiating with potential tenants, always remember that the decency and solvency of those people who will live in your apartment are more important than the size of the rental rate. It is better to give up a little in price, but sign a long-term lease with stable payments, and after the end of the lease get a well-kept apartment in which everything will be safe and sound.