How much rent should I charge?
Set it too high and the property sits empty. Set it too low and you lose money every month, and under the new rules you can only put it up once a year. Here's how to find the right figure.
- Base your rent on similar homes that have actually let, not asking prices.
- Advertise one fixed rent. Rental bidding is banned.
- You can only increase it once a year, so get it right at the start.
1. Find comparable properties
- Search the property portals for homes like yours within about a mile: same number of bedrooms, similar type and condition.
- Look for ones marked let agreed, because asking prices are often optimistic.
- Ask a couple of local letting agents for a free valuation, even if you plan to self-manage.
- Check official figures, such as ONS private rent statistics for your area, as a sense check.
2. Adjust for your property
| Usually adds value | Usually lowers the rent |
|---|---|
| Off-street parking or a garage | Dated kitchen or bathroom |
| A garden or outside space | Poor EPC rating and high bills |
| Good EPC rating and low bills | Busy road or no parking |
| Near good schools, stations or a town centre | Small or awkward rooms |
| Newly decorated, new carpets | No storage |
3. Check it covers your costs
Add up your yearly costs: mortgage, insurance, safety certificates, repairs, any agent fees, landlord database registration at £65 per property each year, and an allowance for empty periods. Divide by 12. If the market rent doesn't cover that comfortably, it's better to know before you let.
4. Think about empty months
One empty month costs you about 8% of a year's rent. Pricing slightly under the market often means letting faster, choosing from more applicants, and tenants who stay longer.
The rules to remember
- No rental bidding: you can't ask for, encourage or accept offers above the advertised rent.
- Rent in advance: no more than one month's rent upfront, and nothing before the tenancy is signed.
- Increases: once a year by Section 13 notice, with two months' notice. Rent increase rules
- Benefits: you can't refuse tenants just because they receive benefits. Local Housing Allowance rates show what help is available in your area.
How Landlord Friendly will help
- Save your comparable lets alongside each property, ready if a rent increase is ever challenged.
- See your yearly costs per property, so you know what rent you need.
- A reminder when your next rent review is allowed.
Frequently asked questions
How do I work out how much rent to charge?
Compare similar properties nearby that have actually let recently, not just asking prices. Adjust for size, condition, parking, garden and furnishings, then check the figure against your own costs.
Can I take offers above the asking rent?
No. Since 1 May 2026, landlords in England must advertise one fixed rent and cannot ask for, encourage or accept offers above it.
How often can I put the rent up?
Once a year, using a Section 13 notice with at least two months' notice. Tenants can challenge increases above the market rate at a tribunal.
Should I price high and come down?
Usually not. An empty month costs about 8% of a year's rent, so pricing slightly under the market to let quickly often earns more over the year.
Related: Rent increase rules · Finding and referencing a tenant
Official sources
Last reviewed 25 October 2026. This guide is general information for landlords in England, not legal, tax or insurance advice. Rules change, so check the official sources before acting.