What Actually Happens at a Market Appraisal

Most landlords only see a market appraisal from one side: the agent turns up, has a look around, and a few days later they get a piece of paper with a number on it. But there is a lot that goes on in between. After years of conducting appraisals, I thought it might be useful to walk through what actually happens and what you should expect.

When I arrive at a property, I am looking at three things. First, the condition. Is it clean, well maintained, and presented in a way that will appeal to tenants? Second, the location and the specifics: number of bedrooms, outside space, parking, access to transport and amenities. Third, how it compares to what is already on the market and what has recently let in the area. Rental value is not a guess; it is based on evidence.

Pricing strategy matters. Some landlords want the highest possible figure from day one. In practice, an overpriced property often sits empty, and the first few weeks are when you get the most viewings. I would rather be upfront: here is what the market suggests, here is what might happen if we push it higher, and here is what I recommend. Getting it right from the start usually means a better tenant and fewer void weeks.

Common mistakes I see? Overpricing because a neighbour got a high rent two years ago. Poor presentation: clutter, tired decor, or photos that do not show the property at its best. And not asking enough questions. You should know how your agent has arrived at the figure, what similar properties have achieved, and what you can do to improve the offer.

So when your agent turns up, ask them to talk you through their reasoning. Ask what has let recently and how your property compares. Ask what would make it more attractive to tenants. A good appraisal is a conversation, not just a number. I am always happy to connect with fellow property professionals. If you would like to get in touch, you can reach me at jess@jhwood.homes or via LinkedIn.