How we work out your day 1 rent

Our property team identify what similar homes in the same area rent for.

We put each home through 3 separate rental valuation processes to work out the rent, which is then verified by an independent, third party, certified by the Royal Institution of Chartered Surveyors (RICS).

Once we know what the home would typically cost to rent we reduce it by how much of the home you own.

For example, if similar homes in the same area rent for £1,000, and you start with a 5% deposit, your rent on day 1 would be £950 because you’re only renting 95%.

The bigger your deposit, the less rent you pay. With Wayhome your deposit can be anywhere between 5% and 20%. Here are a few examples to give you an idea.

What the home would normally rent for	Your deposit	Your day 1 rent
£1,000	5%	£950 (95% rent)
£1,000	10%	£900 (90% rent)
£1,000	15%	£850 (85% rent)
£1,000	20%	£800 (80% rent)

It’s extremely important to us that your rent is a fair reflection of the type and condition of the home, as well as the area it’s in.

Next, find out how rent can change over time.