Factors affecting rental prices.

Whether you are someone looking for a property to rent or to post a property to let, one important question is “What’s the correct price?”. As a landlord or agent, it is important to price it appropriately for rent seeker, or risk wasting valuable time and money just to end up with no taker. Here are some factors to be taken into consideration when researching for a price.

1. Location

Location is something we heard all the time. Usually when we talk about location of a property, it refers to the distance from amenities such as colleges, offices or a shopping centre. It usually has a direct impact to a person’s life and lifestyle of choice. The closer it is to amenities, the higher the expected price. And the more connected it is to essential amenities, the better.

Billion-dollar businesses focused on locations!!!

In Malaysia, you would see rental property prices around the Petronas Twin Tower (KLCC), or KL Sentral fetching a higher rental price than property in Sungai Buloh. Furthermore, property developers are building integrated property near central business district of Kuala Lumpur, such as Sunway Velocity by Sunway, the developer of Sunway University or M Vertica by Mah Sing.

2. Accessibility and convenience Continue reading Factors affecting rental prices.