The Nine Rules of Letting Rule #6

The sixth rule is quite a simple one .. the number of households in your patch.

Step 1

Now the first thing to do is list down the postcode areas of your core patch (The postcode area is the letter(s) and the number before the space eg UB3, SW1, NG31, DA23 etc etc

Step 2

Now, use this link, http://www.mouseprice.com/area-guide/housing-stock/NG31

but once in the website, go to the web address and change the NG31 part of the web address to each of your core postcodes.

Eg, if your postcode was UB3, you would change NG31 to UB3 on the weblink.

Step 3

Now add up all the Detached, Semi detached, Terraced and Flats numbers for that postcode and repeat the process for each of your other postcodes... this will give you a number .. the total number of households in your patch.

Make sure you only use postcodes that are your core areas.

Step 4

So once you have your number .. what does it mean?

Below 10,000 – the area is too small
10,000 to 20,000 – the area is small, especially at the lower end, but still doo-able
20,000 to 32,500 – now we are beginning to get into a decent sized area
32,500 to 46,000 – optimum sized territory .. perfect
46,000 to 60,000 – large, especially at the upper end of the band
60,000 to 80,000 – very large and unless rule 1 is excellent, take care
80,000 + - unless Rule 1 is perfect and most of the other rules are good, unless you have a large marketing budget and you are an out and out salesperson – be very careful .. might too large a patch