In this lesson, we will be looking at how to make comparisons on rental prices, in a given area.
Doing this will help you calculate average local rents, from which you can build the forecasting you’ll need for your property project.
Again, we’ll be using Rightmove.
Using the maps feature, search the area you’re looking to invest in and then find the rental cost of properties nearby.
This will help you understand the lower, upper and average rental costs for properties in the area.
However, forecasting your potential for rental income is very important.
So, you can’t just want to rely on what Rightmove is telling you, especially if you don’t see many results.
Make sure you’ve done your homework and speak to local estate agents. You need to make sure that you understand the bigger picture.