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  • FIRST POST
    • The-Joker
    • By The-Joker 15th Sep 17, 12:34 PM
    • 374Posts
    • 455Thanks
    The-Joker
    My rent hasn't gone down for 2 years
    • #1
    • 15th Sep 17, 12:34 PM
    My rent hasn't gone down for 2 years 15th Sep 17 at 12:34 PM
    Everybody knows rents and property prices are falling in London, but my rent hasn't gone down for 2 years now.

    I can see nicer places than mine for cheaper per week, but should i give my landlord a chance to reduce my rent enough to get me to stay?

    I know there are many empty places with very desperate landlords begging people like us to move in,

    I may give him a chance, but if he doesn't lower it enough thats it Im giving one months notice and going to a cheaper nicer place
    The thing about chaos is, it's fair.
Page 1
    • glentoran99
    • By glentoran99 15th Sep 17, 12:37 PM
    • 4,578 Posts
    • 3,579 Thanks
    glentoran99
    • #2
    • 15th Sep 17, 12:37 PM
    • #2
    • 15th Sep 17, 12:37 PM
    are they? or has the speed of increase slowed?
    • amfan
    • By amfan 15th Sep 17, 12:37 PM
    • 71 Posts
    • 48 Thanks
    amfan
    • #3
    • 15th Sep 17, 12:37 PM
    • #3
    • 15th Sep 17, 12:37 PM
    I've not rented in a few years, but in my experience it always went up annually and not down. I think if you want to take advantage of the fact that you feel rent is falling in general on newly rented places you may have to give your notice on your current property and begin again in one with cheaper rent. I'm not sure there are many landlords out there that will willingly reduce rent!
    Last edited by amfan; 15-09-2017 at 12:38 PM. Reason: Edited to add OP feels rent is falling, I have no actual basis with which to agree or disagree on that.
    • bob bank spanker
    • By bob bank spanker 15th Sep 17, 12:39 PM
    • 480 Posts
    • 836 Thanks
    bob bank spanker
    • #4
    • 15th Sep 17, 12:39 PM
    • #4
    • 15th Sep 17, 12:39 PM
    https://homelet.co.uk/homelet-rental-index/london?range=24
    • Guest101
    • By Guest101 15th Sep 17, 12:41 PM
    • 15,147 Posts
    • 14,749 Thanks
    Guest101
    • #5
    • 15th Sep 17, 12:41 PM
    • #5
    • 15th Sep 17, 12:41 PM
    Everybody knows rents and property prices are falling in London, but my rent hasn't gone down for 2 years now.

    I can see nicer places than mine for cheaper per week, but should i give my landlord a chance to reduce my rent enough to get me to stay?

    I know there are many empty places with very desperate landlords begging people like us to move in,

    I may give him a chance, but if he doesn't lower it enough thats it Im giving one months notice and going to a cheaper nicer place
    Originally posted by The-Joker
    I cant express it on the forum, except to say I genuinely LOL'd.
    • AdrianC
    • By AdrianC 15th Sep 17, 12:46 PM
    • 15,054 Posts
    • 13,377 Thanks
    AdrianC
    • #6
    • 15th Sep 17, 12:46 PM
    • #6
    • 15th Sep 17, 12:46 PM
    There y'go, then.

    If you don't ask, you don't get.
    If he doesn't agree with you, then the simplest answer is to move.
    • saajan_12
    • By saajan_12 15th Sep 17, 12:59 PM
    • 757 Posts
    • 495 Thanks
    saajan_12
    • #7
    • 15th Sep 17, 12:59 PM
    • #7
    • 15th Sep 17, 12:59 PM
    I don't know (or even think) that rents are falling in the parts of London I'm familiar with.

    As with any negotiation, it depends on who has more to lose/gain. No harm in asking, but do check your realistic options first and make an informed decision on whether you'd actually be better off moving considering
    *concrete other properties with the right size / decor / layout / area / travel links etc
    * any other regular costs e.g. any extra travel costs, utility bills,
    * new tenancy costs (referencing, admin fees, moving costs.. how long would it take to break even)
    * rent overlap If you can't line up places precisely, you're paying full rent on 2 places for a few days/weeks.

    Also non financial concerns such as time and upheaval of a move, and the risk of getting a poor landlord who doesn't perform repairs etc.
    • G_M
    • By G_M 15th Sep 17, 1:37 PM
    • 41,067 Posts
    • 47,178 Thanks
    G_M
    • #8
    • 15th Sep 17, 1:37 PM
    • #8
    • 15th Sep 17, 1:37 PM
    If you are convinced you can find a similar, but cheaper, local place, then by all means print off examples of these properties and invite your landlord to tea. Perhaps suggest he come for an inspection at the same time.

    Bake a nice cake (madeira is suitable) and over a cup of tea state that you are thinking of moving to save moneey but would prefer to stay, provided the rent is adjusted to, say, £x per week/month.

    He will either agree, refuse, or offer to think about it.

    Make sure you know what you'll do in response to each potential answer.

    • glasgowdan
    • By glasgowdan 15th Sep 17, 1:46 PM
    • 2,393 Posts
    • 2,671 Thanks
    glasgowdan
    • #9
    • 15th Sep 17, 1:46 PM
    • #9
    • 15th Sep 17, 1:46 PM
    The OP has an extremely suitable forum name!
    • freeisgood
    • By freeisgood 15th Sep 17, 2:41 PM
    • 480 Posts
    • 733 Thanks
    freeisgood
    Its worth giving it a try....if you've been a good tenant he just might
    • cloo
    • By cloo 15th Sep 17, 2:48 PM
    • 879 Posts
    • 767 Thanks
    cloo
    When people talk about rents going down, I think they usually mean that asking rents for untenanted properties are falling, not that LLs with existing tenants are lowering their rents. I'm not even sure London rents *are* falling, there's still far more demand than supply, especially with LLs selling up due to changes in the tax regime.
    • ScorpiondeRooftrouser
    • By ScorpiondeRooftrouser 15th Sep 17, 3:14 PM
    • 1,883 Posts
    • 2,801 Thanks
    ScorpiondeRooftrouser
    Of course it doesn't matter whether rents are falling or not. If he can find a lot of cheaper, nicer places for rent than the one he is in, he might well have been overpaying all along. if that's the case then obviously point this out to the landlord and if he won't drop the rent, move.
    • LEJC
    • By LEJC 15th Sep 17, 4:00 PM
    • 9,015 Posts
    • 56,791 Thanks
    LEJC
    I'm clearly not a decent LL....I hold my hands up and say I have never reduced a rental payment.

    I am slow to increase as I do value tenant loyalty to the property over market value but I am afraid I draw the line at automatically offering annual reductions.

    I guess if you are unhappy about paying what you feel is an inflated rent,you could consider moving to one of these cheaper properties.
    frugal October...£45.59 of £40 food shopping spend for the 2 of us!
    Jan £41.60/£40
    Feb £54.58/£40...gave up this month 15/2
    Mar £37.02/£40...lots of help via a gift card and vouchers
    May
    2017 toiletries 131 out 101 in ...£14.92 spend
    • cloo
    • By cloo 15th Sep 17, 4:23 PM
    • 879 Posts
    • 767 Thanks
    cloo
    This is timely in respect of this thread: http://www.bbc.co.uk/news/business-41254714 - RICS view is that rent rises are ahead as landlords exit the market.
    • itchyfeet123
    • By itchyfeet123 15th Sep 17, 7:36 PM
    • 395 Posts
    • 452 Thanks
    itchyfeet123
    People, this is pretty clearly a !!!! take of the typical landlord line.
    • Morglin
    • By Morglin 16th Sep 17, 8:44 AM
    • 14,618 Posts
    • 26,880 Thanks
    Morglin
    If London private rental prices were dropping (not round here, they're not) then councils wouldn't be expanding the scheme of dispersing the vast majority of London homeless families all over the country.

    Rent and house prices are astronomical in most London areas.

    Lin
    You can tell a lot about a woman by her hands..........for instance, if they are placed around your throat, she's probably slightly upset.
    • FBaby
    • By FBaby 16th Sep 17, 9:05 AM
    • 15,787 Posts
    • 39,467 Thanks
    FBaby
    What's the point of your post? If you are not happy with any aspect of your rental agreement, and you are able to give 1 month notice, then just do it. It doesn't matter what the reason is (too expensive, too small, too noisy...)

    Negotiating is obviously an alternative, again, like it would be for any other reason for dissatisfaction.

    I think you just think you have an entitlement to a lower rent, when what you have is an entitlement to move out.
    • Vectis
    • By Vectis 16th Sep 17, 2:54 PM
    • 449 Posts
    • 546 Thanks
    Vectis
    What's the point of your post? ...
    Originally posted by FBaby


    What's the point of it? If you read the OP's other posts (and his/her user name) you'll understand.

    Probably more than half are based around the theory of a property price crash and falling rents.

    It's obviously just a wind up. There's a name for the sort of person who does this online...
    • boliston
    • By boliston 16th Sep 17, 5:57 PM
    • 2,377 Posts
    • 1,948 Thanks
    boliston
    Surely most rents will be linked with rpi (often even rpi+2%), and i have not seen any recent sings of rpi dipping.
    • deannatrois
    • By deannatrois 16th Sep 17, 6:20 PM
    • 4,740 Posts
    • 6,675 Thanks
    deannatrois
    Lol, the OP lives in a different dimension to the one most of us inhabits!I don't think I've ever heard of rent prices going down except temporarily due to a lack of roof, walls and other slightly essential stuff, and only then when the LL is approached with hammer in hand lol.
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