Is there a residential letting cost index?

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    Is there a residential letting cost index?

    hi everyone,

    new here and have the same comment as many before "potentially looking at running my own lettings agency"

    quick question if anybody can help please:

    Is there anwhere on the internet you can find a history of rental prices in specific areas, like rightmove/housenetprices you can find prices of houses going back 7 years is there anything similar for the rental market?

    Although i know my own area quite well, some of the smaller villages around i dont, is there a rule of thumb when giving a rental guide to landlords? im just concerned that i will go to a road where there are no comparables and get it wrong?

    any help much appreciated


    thanks

    #2
    If you want to do it properly you need to spend some time training. Send me your e-mail address via a private message and I will contact you.
    The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

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      #3
      Originally posted by potnewagent View Post
      Is there anwhere on the internet you can find a history of rental prices in specific areas, like rightmove/housenetprices you can find prices of houses going back 7 years is there anything similar for the rental market?
      There isn't, simply because property purchase price data is ultimately verifiable and sourced from HM Land Registry (where every transaction has to be registered). No such register of letting values exists, except re a few old (Rent Act) tenancies monitored by Rent Officers.
      JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
      1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
      2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
      3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
      4. *- Contact info: click on my name (blue-highlight link).

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        #4
        Rentright is a relatively new portal, which has a facility for this http://www.rentright.co.uk/rrpi.aspx

        I'm not sure how reliable the data is across the UK, but it seems about right for my area. I haven't come across another source of information like this, and it does, of course, rely wholly on the accuracy of the portal......... Might give you an insight though.

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