Owning a second home is a goal for many people in the UK. Whether it’s a cottage by the coast, a city flat for weekday convenience, or a buy-to-let investment to generate income, the idea of having an additional property is both exciting and rewarding. But it’s also a decision with layers of complexity compared to purchasing your first home.

Renting as a couple is a big step in life. It often means merging lifestyles, sharing financial responsibilities, and making decisions that affect both partners equally. In the UK, where rental prices have climbed significantly over the past decade, setting a realistic rental budget is more important than ever.

Whether you’re an accidental landlord (perhaps moving for work but keeping your home) or a seasoned property investor, setting the right rental price is critical. Get it wrong, and the impact can be costly—either through long void periods where the property sits empty or by undervaluing your property and missing out on thousands of pounds a year.

Many landlords, especially first-timers, underestimate how much it really costs to run a rental property. Between mortgages, maintenance, taxes, and void periods, the expenses can add up quickly. Budgeting properly ensures your investment remains profitable, sustainable, and stress-free in the long run.