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Great ‘How to haggle down rent’ Hunt

edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
148 replies 71.3K views
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  • Hi Becky hopefully your tenants might not ask to lower their rent, but if they did, maybe you'd have to do the same and ask your current landlord to reduce the rent you pay them? You have to put your priority (avoiding reposession) above what your landlord may want. Sadly it may be a chain effect as the months go on, we will have to see.

    I guess it depends on the areas but seems (in the South for me) that the rents may be coming down as there were so many properties for sale that did not sell, as per your situation, therefore maybe creating more properties than tenants.
    MFW #185
    Mortgage slowly being offset! £86,987 /58,742 virtual balance
    Original mortgage free date 2037/ Now Nov 2034 and counting :T
    YNAB lover :D
  • And here...

    http://www.landlordlaw.co.uk/page.ihtml?id=74&catparid=64&step=2&page=mem

    ... are some tips for those people-who-cannot-possibly-be-MSErs (according to Martin) ... LANDLORDS, including methods and ways of hiking the rent...

    Personally, I'm getting cheesed off with Martin taking partisan stands like promoting this thread on his weekly email.

    Not all of us are tenants. Not all of us are on the receiving end of bank charges - and sanctimonious pontification that banks have not withdrawn free banking yet does not mean they won't be doing exactly that in due course as a response to his merry antics in championing f e c kless budgeters.
  • LumpHammer wrote: »
    I think agents have been referred to indirectly in this thread. If tenants want to rent property cheaper the biggest step they can take is probably to rent directly from a landlord than use an agent.

    I am sure some of the tenants on this thread will be able to furnish information on current charges levied by agents, but they will normally charge a fee every time a new lease is taken out. They will usually charge the tenants AND landlord. They will often allow no more than 6 month contracts as this maximises their revenue. They will charge maybe 10-15% or more commission on rent to the landlord, but are of NO USE if any problems of non-payment arise. They will say 'contact your solicitor'.

    You may have guessed I am a landlord, who lets directly. I do not charge tenants for their tenancy agreements or renewals, or for referencing. I keep my properties in good condition and react quickly to request for repairs etc and generally do not increase the rent for as long as the tenants stays in the property. My rents are invariably below the market level, as I want reliable, long term tenants.

    I have seldom had tenants haggle, but if they do, I reject them, knowing full well that the price I request is more than reasonable.

    I'm the same, I much prefer to find my own tenants, agents are just an unnecesary (except for novice LL's) middlemen who introduce fees to the market.

    Although I have to admit they are providing me a good service by driving up other LL's rents.
  • Alan - Martin is promoting money saving so nothing unusual there, However, if as a landlord you are charging a fair (not necessarily cheaper) rent along the lines of what local rental prices are currently going for, you have nothing to fear as your tenants won't want to risk a dodgy landlord (been there) for the sake of a few pounds.

    If this trend continues (ie lots of properties to rent, not many tenants) then it's the landlord who has already set a fair rent who will do well. Not dissimilar the sellers who are already bucking the trend by letting go of unrealistic selling prices and choosing to sell at a price they can handle, rather than holding on to an empty property.

    Also, if my landlord explained in a fair way why rental prices should go up (ie new bathroom or kitchen, local prices rising etc), we would definately pay if we felt it was worth it and they were a decent landlord. It's just that the current trend in our area looks far from that at this time.
    MFW #185
    Mortgage slowly being offset! £86,987 /58,742 virtual balance
    Original mortgage free date 2037/ Now Nov 2034 and counting :T
    YNAB lover :D
  • hello all

    I live in east London, and managed to negotiate £200 a month off the three bed house I moved into last May (rent down from £1295 to £1050 a month). I looked at several properties, and found that if a property was listed with a letting agent, rather than renting directly from a landlord (who were usually much more realistic about rental values) there was in-built haggling room. I got the money off by emphasising my and my boyfriend's job security, agreeing to take the place unfurnished, and being willing to sign a 12 month contract. Often landlords are so keen to keep a good tenant, they will knock some rent off in exchange for signing a longer contract. I've had no problems with my current landlord, and the letting agents I spoke to did not seem shocked at all when I took the prices they were quoting per month as a starting point in negotiations. :o
  • seraphina wrote: »
    Not quite - many rental terms that landlords include are not actually legally enforceable.

    MSE are to be commended for this. I don't understand why some people (usually landlords, admittedly) think it's fine for people to find the cheapest utility company, phone up Sky/Virgin/your mobile provider and bargain for a better contract but as soon as it comes to negotiating rent all tenants are trying to pull a fast one. Being a landlord is a business, just like any other, and renting is just a utility that puts a roof over your head. So landlords, by all means storm off in a huff because you think tenants are taking the mickey - it's not like there's a shortage of rental properties at the moment...*

    Anyway, back to the point - we've found that pointing out what other similar properties are going for in the area, combined with the fact we are known good tenants is generally good for either no increase or a decrease in rent. Recently we've pointed out that if the agency wished to remarket the flat they would have to pay for an energy certificate thing as well, adding to their costs.

    *Disclaimer: I know that some tenants treat properties badly/don't pay rent, but them's the breaks, as they say. It's part and parcel of the landlord business, and if your business can't cope with such events, you are doing it wrong!


    My highlights

    Fair enough, just so long as you will accept that the landlord may similarly impose his 'breaks' on the 'tenant business' by doing analagous, break-of-contract actions.... gaining entry to the property when the tenant's out, helping himself to the tenant's belongings, parking his car in the tenant's space etc etc.

    After all, if a tenant can't 'cope' with such events, then he/she is obviously doing something wrong!
  • Alan - Martin is promoting money saving so nothing unusual there, However, if as a landlord you are charging a fair (not necessarily cheaper) rent along the lines of what local rental prices are currently going for, you have nothing to fear as your tenants won't want to risk a dodgy landlord (been there) for the sake of a few pounds.

    If this trend continues (ie lots of properties to rent, not many tenants) then it's the landlord who has already set a fair rent who will do well. Not dissimilar the sellers who are already bucking the trend by letting go of unrealistic selling prices and choosing to sell at a price they can handle, rather than holding on to an empty property.

    Also, if my landlord explained in a fair way why rental prices should go up (ie new bathroom or kitchen, local prices rising etc), we would definately pay if we felt it was worth it and they were a decent landlord. It's just that the current trend in our area looks far from that at this time.


    Yep, he's promoting money saving by one section of his membership at the expense of another.

    Not the first time he's done this. He has 'previous'.
  • PayDayPayDay Forumite
    346 posts

    Driving down the rent could:
    • delay repairs
    • reduce the tenant's security of tenure

    No tenant has security of tenure regardless of what rent they pay.

    Why would you delay the repairs George? Either you accept the rent of you don't. If you delay your repairs the tenants will move out at the end of their fixed term and just find a good landlord and will no doubt warn any new tenants viewing your house why they are moving out. They might also report you to the local council's tenancy officer and then you will have them on your back.
  • I find it quite worrying that some landlord think that tennats asking for a rent decrese makes them bad tennats. I am considering asking my landlord for a rent decrease if worst comes to worst. My partner works for RBS and we could be in trouble if he loses his job.

    I dont mind making up the rent shortfall by "improving" the property. In fact whilst I have been here I have regrouted the bathroom and kitchen (it was old and greying) I have redone the silicone sealent (mouldy). Repainted the bathroom in the same colours but in a specialised bathroom paint as the other stuff was getting wet and just dripping off.

    I keep my property in good condition and have nothing to fear from inspections. I believe I am a good tennant and would hope that in a situation where I might need a reduction the Landlord would consider and not think me a bad tennant.
  • PayDayPayDay Forumite
    346 posts
    I would take a lower rent on my properties, rather than have no tenant at all. If you don't ask then you don't get.
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