Is Your Rental Still Priced for Today’s Market?

When did you last properly review the rent on your property?

Not simply glance at a few listings online, but actually look at where your property sits in today’s rental market.

For some landlords, the rent was agreed several years ago with a good long-term tenant and has barely been revisited since.

For others, the temptation can be to look at the highest asking rent in the area and assume their property should achieve the same.

Neither approach necessarily gives you the right answer.

The highest asking rent isn’t always the right rent

Property portals are useful.

They show what other landlords and agents are currently asking and can give you a broad feel for the local market.

But an asking rent is just that – an asking rent.

Two properties with the same number of bedrooms can achieve very different results depending on their condition, presentation, layout, parking, outside space and exact location.

And a property sitting online at a particularly high rent isn’t necessarily evidence that tenants are prepared to pay it.

A sensible rent review needs a little more context.

Start with the property you actually have

When we look at rental value, we don’t just count bedrooms.

We look at the property as a whole.

How is it presented?

Has it been maintained?

Does it have parking?

Is there useful outside space?

How does the layout compare with other properties nearby?

And perhaps most importantly, what genuinely comparable properties are available in the same local market?

That gives a much clearer picture than simply choosing the highest figure from an online search.

What if you have a good tenant already?

This is where rent reviews require a little judgement.

A long-standing tenant who looks after the property and pays reliably has value too.

That doesn’t mean rents should never be reviewed.

But it does mean the decision doesn’t have to be reduced to:

“What is the absolute maximum I could charge?”

Sometimes a fair, evidence-based rent that works for both landlord and tenant is a considerably better long-term outcome than pushing immediately for the top of the advertised market.

As Lisa Bailey of Personal Economy Lettings explains:

“Rent reviews shouldn’t just be about finding the biggest number on a property portal. We look at the property, the local market and the tenancy itself. The aim is to arrive at a rent that can be properly supported.”

Rent increases now follow a specific process

Since 1 May 2026, assured periodic tenancies in England have been subject to the new rent-increase rules introduced under the Renters’ Rights Act.

A landlord can normally increase the rent only once a year, cannot increase it during the first year of a new tenancy, and must use the statutory Section 13 process. The tenant must receive at least two months’ notice using Form 4A.

A tenant who believes the proposed figure is above the open market rent can ask the First-tier Tribunal to determine the market rent.

That makes good evidence even more important.

If you are proposing an increase, it makes sense to understand the comparable local market before deciding on the figure.

Don’t wait years between reviews

Reviewing the rent doesn’t necessarily mean increasing it.

It simply means knowing where you stand.

A regular review can tell you whether:

• the rent remains appropriate

• the property has fallen behind the local market

• an increase may be reasonable

• there is a good reason to leave the rent where it is

Small, considered reviews can also be easier to manage than allowing a large gap to develop over several years and then trying to correct it in one go.

We monitor rents across all our services

At Personal Economy Lettings, rent monitoring is part of all our landlord services.

That means we don’t simply agree a rent at the beginning of a tenancy and forget about it.

We keep an eye on the local rental market and can help landlords understand where their property sits as circumstances change.

Where a rent increase is appropriate, we can also help landlords with local comparable evidence and navigate the correct rent-increase process.

You remain in control of the decision.

We provide the information and practical support around you.

When did you last review yours?

If you can’t remember, it may be worth taking another look.

Not because every landlord should immediately increase the rent.

But because knowing what your property is realistically worth puts you in a much better position to make an informed decision.

And if you would like a straightforward local view, ask us about our Complimentary Rental MOT.

We’ll look at your property, your current rent and the wider tenancy position and help you understand where things stand.

Personal Economy Lettings

0117 9856703
personaleconomylettings.co.uk

Helping landlords stay confidently in control.

Updated October 2026

Information only – this article is intended as general guidance for landlords in England and should not be treated as legal advice.