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Rent Reduction
izzybusy23
Posts: 994 Forumite
Hi guys
I have been toying with the idea for some time now whether to ask for a rent reduction as we have been in our rental nearly 2 years, but with the economic downturn, the rent isn't reflecting the current market.
Me and my DH looked at a 3 bed semi with garage a couple of weeks ago for £650 PCM but were pipped at the post which I was quite upset about at the time as we were paying £575 for a 2 bed terrace and could had got another bedroom, garage and off street parking for only £75 pcm more ... so I bit the bullet and wrote to the letting agency armed with evidence that we are now paying over the top for the property and yesterday we were told we had been given a rent reduction of £25 a month from March as long as we sign a new 12 month tenancy (that's ok as it was my idea to use that as sweetener to get the reduction as I do like the house, despite it only being a 2 bed terrace).
Ok, it's not a massive rent reduction but it certainly brings the property back in line with other similar properties on the same estate.
So, if you think you are paying over the odds, do some well informed research and write to your letting agents pointing out why you think you should be entitled to a refund... if you like the house, try saying ' I like the house and would be willing to sign a further 12 months tenancy agreement to guarantee the landlord rental income for the next year all dependent on a rent reduction'... and that might work like it did for us.
Just wanted to share..
I have been toying with the idea for some time now whether to ask for a rent reduction as we have been in our rental nearly 2 years, but with the economic downturn, the rent isn't reflecting the current market.
Me and my DH looked at a 3 bed semi with garage a couple of weeks ago for £650 PCM but were pipped at the post which I was quite upset about at the time as we were paying £575 for a 2 bed terrace and could had got another bedroom, garage and off street parking for only £75 pcm more ... so I bit the bullet and wrote to the letting agency armed with evidence that we are now paying over the top for the property and yesterday we were told we had been given a rent reduction of £25 a month from March as long as we sign a new 12 month tenancy (that's ok as it was my idea to use that as sweetener to get the reduction as I do like the house, despite it only being a 2 bed terrace).
Ok, it's not a massive rent reduction but it certainly brings the property back in line with other similar properties on the same estate.
So, if you think you are paying over the odds, do some well informed research and write to your letting agents pointing out why you think you should be entitled to a refund... if you like the house, try saying ' I like the house and would be willing to sign a further 12 months tenancy agreement to guarantee the landlord rental income for the next year all dependent on a rent reduction'... and that might work like it did for us.
Just wanted to share..
0
Comments
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Thanks for this, Im in a similar situation where I see properties around me in the same area being let for way lower than Im currently paying. I love where Im staying but its so expensive in comparison and Im a good tenant so I will definately use this approach.
:beer:0 -
hello_petal wrote: »Thanks for this, Im in a similar situation where I see properties around me in the same area being let for way lower than Im currently paying. I love where Im staying but its so expensive in comparison and Im a good tenant so I will definately use this approach.
:beer:
Go for it and good luck!! I think in this climate, if you are a good tenant then the landlord would rather keep a respectable tenant in place and lower then rent than risk voids and unreliable tenants who do not look after their property.
Let us know how you get on!0 -
On the other side of the coin from a LL's point of view - I generally ask the LA for a reduction on renewal especially if it has been a trouble free rental.0
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