For how much can you rent a flat that is worth £150,000 and £180,000, respectively around London?

Question

Can you rent such a flat for a higher price in Manchester?

Answer 1

Funny enough, rental value has little to do with the price you paid for it :-)

Although location (= price) does have some effect (especially if you are near to railway stations / underground with a link to London), the main factor is the number of bedrooms ... a 2 bedroom (even in a poorer area) will usually attract more rent than a 1 bedroom ...

Typically ANY flat around London will attract higher rents than anywhere else in UK.

Factors that also have some effect are the size of rooms, the overall 'finish' (how 'smart' it is) and the facilities (en-suite, bathroom, kitchen, off-street parking etc.)

Answer 2

As above.... You need to speak to letting agents to really know the markets, particualrly how they are moving.

"Manchester" and "London" are to broad an area to give any indication of average rents, if you have specific areas in mind check out something like www.rightmove.co.uk to see what other properties are making.

If this is for investment purposes I would also consider equity returns as well - as in the long run they can make the difference.

Answer 3

I totally agreed with the other contributors.

All depends on number of bedroom, location, number of bathroom, double glazing, central heating...

But in general (there are expections)....if you paid £150 000 and £180 000

You could try to rent your flat in London for:

£150 -180 pw

Push it even higher in September to feel the market...you might get some nice surprises. (if you don t try in September...then stay in those £150-180 range)

All the best