To ask how to sort rental prices?

(38 Posts)
FastaPastaForMoiii Thu 28-Jul-16 17:39:04

1 really small bedroom, single bed, no storage, no furniture

1 bedroom with a mini room attached for getting ready and storage, single bed, huge mirrored cupboard, sink, no furniture

1 bedroom with lots of storage, balcony, single bed, cupboard and wardrobe

(All three rooms share a small bathroom with just shower, no bath)

One en-suite with bath, lots of storage, huge mirrored wardrobe, big room, double bed

wasonthelist Thu 28-Jul-16 17:40:31

What is your AIBU exactly?

FastaPastaForMoiii Thu 28-Jul-16 17:42:26

What do you think would be fair? I'm clueless!!

Total price is 2080 a month...

I was thinking (smallest to largest):

420 (should this be less?)
480
500 (should the difference between middle two be more?)
580 (should this be more?)

absolutemug Thu 28-Jul-16 17:42:53

18% 22% 25% 35%

Bailey101 Thu 28-Jul-16 17:43:42

Location, type of property, condition of the property, whole house or individual rooms, garden, parking???

There's no way anyone can give you any rental information with a lot more detail.

FastaPastaForMoiii Thu 28-Jul-16 17:45:17

But does that matter? Total price is fair, it's in a big UK city, good location, new-build, modern, v good condition, whole house being let, small garden to share and parking available but none of the tenants have a car.

FastaPastaForMoiii Thu 28-Jul-16 17:45:54

To clarify I'm one of the potential tenants.

Struggling to work out how to divide prices fairly.

YelloDraw Thu 28-Jul-16 17:47:15

Are you renting it with friends, or have you taken the lease and responsibility to find others?

If with a group of friends I would sit down with them and work out the price at which you wouldn't feel pissed off at having the shit room v the good room.

Room 1 is crap. £420

Room 2 and 3 both sound OK but in different ways, room 2 has the second storage room and sink, but 3 has the balcony. £510 each.

4 is obviously best. £640

opheliaamongthelillies Thu 28-Jul-16 17:47:52

£420 for a box? You're having a laugh..........

Bailey101 Thu 28-Jul-16 17:49:50

Your op sounded like you were trying to figure about rental prices.

I think there should be more of a gap between the cheapest and most expensive - £160 is a bit of money, but for storage, balcony and an en suite compared to a what sounds like a good sized cupboard it's not a big difference.

2largeglasses Thu 28-Jul-16 17:50:05

Smallest should be a lot less. There's an enormous difference in facilities there (I can't see many adults wanting a room with a single bed and no space!)

SaucyJack Thu 28-Jul-16 17:50:18

Are any of you smokers, and are you allowed to smoke inside the property?

The balcony may be worth a premium to the right person.

YelloDraw Thu 28-Jul-16 17:50:25

Look on easyroom or similar - see what rooms of those sizes/amenities are renting for.

Work out at min and mx rates you would be happy paying if you had each room.

Discuss with friends.

MatildaTheCat Thu 28-Jul-16 17:50:52

I'm struggling because you say it's 3 bedrooms but give 4 prices confused.

My ds has a very similar set up and I don't hint he pays nearer 40% for the big room with the others sliding down. The cheapest room is about £500, I think.

RedMapleLeaf Thu 28-Jul-16 17:51:45

Total price is 2080 a month...

Begs the question 2080 what?!

FastaPastaForMoiii Thu 28-Jul-16 17:52:22

No it's 4 bedroom, I meant all three rooms excluding the en-suite share a bathroom.

FastaPastaForMoiii Thu 28-Jul-16 17:52:34

£2080

opheliaamongthelillies Thu 28-Jul-16 17:52:38

Posted before your message regarding being a tenant. I just wouldn't pay £420 for a room such as you have described but if the other tenants are ok with it then fair enough!

YelloDraw Thu 28-Jul-16 17:53:07

£420 for a box? You're having a laugh..........

A box in a nice house though?

But yeah maybe the difference should be a lot moe.

£350
£510 x 2
£710

Or even
£300
£480 x 2
£820

who wants the single beds?

Bailey101 Thu 28-Jul-16 17:53:50

Also, is there unlimited parking or is there allocated spaces - it might make the small room more attractive if it came with a parking spot.

RedMapleLeaf Thu 28-Jul-16 17:54:15

Blimey, is this London? It's crazy.

2largeglasses Thu 28-Jul-16 17:55:08

Are these friends, OP? Are 3/4 people going to be happy in single beds?

MargaretCavendish Thu 28-Jul-16 17:56:53

I had a vague memory of reading an article about a mathematician who came up with a system for this, and on Googling think it is this:
www.nytimes.com/interactive/2014/science/rent-division-calculator.html

This will obviously only work if you have your other housemates in place, but maybe worth a go!

ThinkPinkStink Thu 28-Jul-16 18:04:29

Your maths doesn't quite work (£420 + £480 + £500 + £580 does not equal £2,080)

I'd give the bedrooms classes A, B , C ratings, it sounds like you have:

One class C room - the smallest
Two class B rooms - the middle sized ones/one with additional changing area
One class A room - the largest with the balcony

If you divided the rent equally it'd be £520 per room (£2,080/4)

I'd go in at:

£450 for the class C room
£540 for the class B rooms
£550 for the class A room

I'd also stress that you're flexible re: who does/doesn't have furniture - it could be that people have their own, or that the potential occupants of the larger rooms want to bring a double bed.

To be honest, I think you'll have a very hard time letting single rooms (or rooms with single beds) at all so make sure you've got at least most of the house full before you commit to anything. I know that if I was in the house-share market I'd absolutely not rent a room with a single bed.

YelloDraw Thu 28-Jul-16 18:07:30

I know that if I was in the house-share market I'd absolutely not rent a room with a single bed.

I don't know anyone who rented a single bed room after uni. In fact in uni a single bed was super rare.

One of my friends bought a flat and tried to rent out the 2nd single room. He wasn't able to and he had to move into the single room and rent out the nice double!

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