How to Price Your Rental Property for the Perfect Tenant

Finding the right rental price for your property isn’t just about making the numbers work for you — it’s about striking the perfect balance between attracting good tenants quickly and ensuring a fair return. Set the rent too high and you’ll risk long void periods; set it too low and you could lose hundreds over the course of a tenancy.

With Homesty, you skip the agency fees and keep control of your listing, meaning you can focus purely on getting the price right for your property — not for someone else’s commission.

1. Understand the Renters Reform Bill Rule on Pricing

The upcoming Renters Reform Bill makes one thing very clear:

Once you advertise your property, you cannot accept an offer higher than the original advertised price.

This means you need to get your pricing right from the start — there’s no “testing low” and negotiating upwards later. You also can’t pit prospective tenants against each other in bidding wars.
Instead, you should aim for a sweet spot that’s competitive in your local market and fair for both parties.

2. Use Multiple Data Sources

Relying on a single website’s rental estimate can be misleading. Markets move quickly, and some tools don’t update often.
Instead, compare your property against multiple sources:

• Rightmove – Browse recent lettings in your area with similar size, type, and location.

• Zoopla – Check the “estimated rent” but also look at actual live listings.

• OnTheMarket – Helpful for spotting trends in smaller or rural areas.

• Local Council or Housing Reports – Some councils publish average rental prices by property type.

• Homesty’s Rental Listings – Real-time examples of what’s letting right now.

Tip: Don’t just look at asking prices — check how long properties have been listed.
If something has been on the market for weeks without interest, it’s likely overpriced.