The quick and easy way to work out how much rent you can realistically charge for your property is to take a look at what everyone else is asking.
Visit one of the major property portals, such as Rightmove or PrimeLocation, and search for properties similar to your own. Be as wide in your search as possible. For example, if you have a 3-bedroom house, search in your postcode and up to ½ mile away, for 3-bedroom houses, with no minimum or maximum price. This will allow you to gauge not only the prices, but also the quality of housing at each price. Try not to search too far from your postcode, as rental prices will be affected by proximity to, for example, schools, train stations or a town centre. Obviously, if you can’t find any comparable properties nearby, you may have to broaden your search.
You must take an objective view of your property. If it is in perfect condition, it will be worth more per month than a similar house that needs a new kitchen and bathroom, and vice versa.
It may also be worth including a search of houses with one bedroom more or one bedroom fewer than your own. Take the 3-bedroom house as an example again. In this case, you may extend a search to other rental properties with 2 to 4 bedrooms. If your house is a particularly large or small example of a 3-bedroom house, it may fall into the price bracket of either the cheaper 4 beds or more expensive 2 beds.
We would also recommend looking at properties which are let agreed. You can include these properties in your search on, for example, Rightmove and PrimeLocation. This will show you which properties are actually being rented. Remember that just because your house is the same price as others in the area does not necessarily mean that they are the correct price!