These will determine your rent prices

Everyone wants to own a house someday but while it is still a dream yet to come true, we can only afford to rent but one out-standing factor that inconveniences us most about this, is the rent prices.
Rent prices are most times alarming yet unavoidable and this leaves many wondering over the would be reason for some sky rocketing rent prices.
Germane Hebineza, a real estate agent at Property Agent 175, explains the rent price determinants and the market play where there is no property index to regulate these prices for the goodwill of the tenants. This will help tenants weigh if they get value for money in places they rent or are merely cheated out of ignorance.

The landlord
Hebineza says the sole rent price determinant is the landlord as they have the ability to set a price they feel their houses are worth while reflecting on the trouble or money they have put into the construction work.
However, the landlord is often humbled by other factors of demand and supply of the houses that despite the landlord’s sole determinant role, these factors act as bargaining points to both the landlord and the tenant.

Location
You will realise that most houses close to town that are up for rent are more expensive despite their quality than those far away from town and this is because towns are business centers.
So these houses being strategically located as it makes it easy for people to access their work places puts them on high demand that no matter what, anyone would be willingly to occupy them at any cost.

House quality
This is very obvious, an unfinished house has less demand and it being marketed for a sky rocketing price would be absurd but an already finished house, in good shape and with an attractive look will sell at any set price.
This is so because a house in poor quality no matter its size means less was spent on it and the only people who can afford it are those that do not earn much to afford one of good quality.

Size of rooms
Hebineza further says houses with small rooms tend to attract less attention and pay because not many people look out for them.
“Most Ugandans have grown into the habit of owning a lot of property and having big families so these small rooms have lost demand making their price ranges low and yet for the few single people just starting out with life, the would be occupants cannot afford high priced small rooms.”

Public transport access
Places far away from public transport access tend to have few occupants because not many are willing to risk not being able easily commute using public means from where they stay to wherever they want to go, this will lower rent prices unlike for places with easy access to public transport.

OTHER FACTORS
Water and electricity tariffs
Many landlords will be heard complaining of the water and electricity misuse leading to spending alot on paying bills and not getting any profits out of the rentals, so in order to minimise this, landlords who have not gotten a meter for each tenant have improvised by charging for these bills as well.
This makes it the tenant’s responsibility to pay their own bills indirectly alongside the rent charge hence being a determinant factor for how much one is to pay for their rent such that if the water and electricity tariffs increase, then the rent increases as well, though it is unlikely for the rent to reduce when the tariffs reduce.

Timing
There are times when there is ready demand for houses for rent that landlords are forced to increase their rent especially when there is a particular event due to take place in that area and it involves people having to stay for a while.
Groups of people who go to part time in certain areas for long periods away from home are most affected because landlords tend to take advantage of this to raise their rent for just that period.

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