An extra £50 a month sounds like a good result. Over a year, that is £600 more rent. But if achieving it means leaving the property empty for another six weeks, the calculation changes rather quickly.
When we discuss rental pricing with landlords, we look at what the property is likely to earn over time. The advertised figure is part of that conversation, alongside demand, likely time to let and whether the rent is sustainable for the incoming tenant.
What does a longer void actually cost?
Consider two identical properties, both ready to let. One secures a tenant immediately at £800 a month. The other holds out for £850 and takes six weeks longer.
Using annual rent divided by 52, six weeks without the £800 rent represents approximately £1,108 in lost gross income. At an extra £50 a month, it would take just over 22 months of that premium to recover the lost rent.
That example excludes any additional costs during the void, such as utilities, applicable council tax or extra visits. It also assumes the higher rent is subsequently collected in full. It is an illustration rather than a forecast for a particular property, but it shows why waiting has a price.
A realistic rental valuation needs local evidence
A rental valuation in Blackpool should take account of the property itself and the homes competing for the same applicants.
Condition, layout, location, parking and outside space can influence demand. So can practical details such as access to transport, schools or employment. A well-presented flat in Bispham may attract a different pool of applicants from a family home in Thornton-Cleveleys.
Advertised rents are useful evidence, but they need context. A listing that has been available for weeks does not prove that its asking price is achievable.
We also want to understand the response to your own marketing. Are people enquiring? Are they booking viewings? What are viewers saying afterwards? Plenty of online views with little serious interest may indicate that the price or presentation needs attention.
The tenancy needs to work after move-in
A quick let still needs proper checks. Rushing an application to end a void can create a different problem later.
Affordability, verified information and a clear understanding of the applicant’s circumstances help the landlord make an informed decision. Setting rent at a level supported by the market also gives the tenancy a more sensible starting point.
There will be occasions when waiting for a particular rent is a reasonable choice. The landlord should understand the likely cost of that choice and the evidence supporting it.
Talk to us about what your property could achieve
We provide lettings and property management across Blackpool & The Fylde Coast (and surrounding areas). If you would like a rental valuation grounded in your property and its market, call 01253 486 996 or email
