What Do Estate Agents Look For on A Valuation?
Have you ever wondered how a real estate agent values your property? What is taken into consideration, and adds value? Watch our video to find out.
Whether your property overlooks Marylebone High Street or nestles in the quiet corners of Greenwich, the process of valuation remains the same. Here are the key pointers which letting agents will look out for when valuing your property for the rental market. Click on the video above to see more.
Location:
London is a city of neighbourhoods, each with its unique appeal. The location of your property, its proximity to amenities like public transport, shops, parks, and schools, will significantly impact its rental value.
View:
In a city like London, a good view is like gold dust. A property that overlooks a park, landmark, or simply offers a pleasant high street view can be very desirable to potential tenants.
Source of Light:
Natural light is a sought-after feature for many tenants. The amount and quality of light in your property can significantly impact its attractiveness and its value.
Ceiling Height:
High ceilings can create a sense of spaciousness and luxury. They are particularly common in older, period properties. A property with high ceilings can be valued higher than one with lower ceilings.
Character:
Properties that possess unique features or a distinct charm often hold a competitive edge in the rental market. Period features such as fireplaces, original floorboards, or cornicing can add character and appeal to a property.
Modern/Dated:
The age and style of a property can also influence its value. Modern properties with contemporary amenities and conveniences can be as desirable depending on the target audience.
Condition:
A property in an overall good condition is likely to fetch a higher rent than one requiring repairs. Keep your property well-maintained and consider updates that could increase its appeal.
Size:
The size of your property, including the number of bedrooms and bathrooms, is a major factor in its valuation. A larger property can typically command a higher rent, particularly in high-demand areas.
Other things such as Outside Space, Storage and Double Glazing play a big part in a property’s value.
Market Conditions:
Market conditions across London regularly fluctuate, if you didn’t know already the main variables are often supply and demand which will affect the overall price of your property. Ensure to ask a lettings expert an update on the current market conditions, as they are working in it every single day and can always pick up on slight changes in market trends.
Overall:
Understanding these elements will help you as a landlord in London to maximise your property's rental value. Always remember, making informed decisions based on professional letting agents' advice will ensure you attract the right tenant and get the best possible return on your property investment.
Feel free to give Greater London Properties a call today on 02071131066 to receive some expert advice.
Best Wises
Residential Lettings Director
Greater London Properties
With all of the changes in the current market for both sales and lettings, valuation enquiries have been through the roof. Many property owners are keen to find out what the current value of their home is.
Would you like an up to date valuation on your property?
Get in touch if you would like to speak to one of our property experts today.