Asking landlady to lower rent...?

PJD

I've spoken to a couple of people lately who have done this successfully.

I am a good tenant, I always pay on time and I keep the place good and tidy. I have compared the rental market and it's a little tricky to establish whether I am over paying or not... - personally I think it's slightly expensive in comparison.

Considering the base rate has gone down considerably, and I keep hearing that rentals have gone down, - I feel that I should really contact the lettings agency and say that I would like to pay less, or I will consider moving (which I will tbh).

Any advice? Is this reasonable? Any pitfalls?

izzybusy23

PJD wrote: »

I've spoken to a couple of people lately who have done this successfully.

I am a good tenant, I always pay on time and I keep the place good and tidy. I have compared the rental market and it's a little tricky to establish whether I am over paying or not... - personally I think it's slightly expensive in comparison.

Considering the base rate has gone down considerably, and I keep hearing that rentals have gone down, - I feel that I should really contact the lettings agency and say that I would like to pay less, or I will consider moving (which I will tbh).

Any advice? Is this reasonable? Any pitfalls?

Hi there

See my post below... we have just done it!! I did write a letter to our letting agents advising of similar properties which were less rent than we were paying and bigger properties such as 3 bed semi's with garages that were not significantly more per calendar month.. plus the fact that we are good tenants, always pay on time, keep the house looking clean and tidy as if it was our own.. and the landlady agreed to drop our rent.

I would say make sure you do your research and go armed with evidence of why you think your rent is currently high in this market... suggest signing another 12 month agreement like we did in exchange for a rent reduction.. it guarantee's the landlord 12 months of rental income in an uncertain climate and I am sure they would rather lose some rent each month than be faced with months and months of voids.

Good luck!!

Robert_Sterling_3

A Viz tip for Lanlords

Avoid a void. :rolleyes:

zone

Yes if you find other rental properties for less and let your LA know that you are considering the move, they may offer you a discount. Especially if you are a good tenant and they dont want to lose you. Give it a go.

PJD

Landlady has come back with an answer. She is not going to reduce the rent. She is going to update the bathroom, but at a convenient time when I am on holiday. I have no holidays planned.

I'm a bit annoyed actually, - base rate has come down about 4% the last few months, so her mortgage is likely reduced also. I don't want to cut my nose off to spite my face, but I will start looking out for somewhere else now.

theartfullodger

Yup, go looking, get a few probables and do some serious talking about those probable properties(so you have somewhere to go is LL decides she is fed up with you & gives you notice - you'll need somewhere else!) and then ask again...

I take your point that interest rates have come down ... but kinda doubt that you'd accept the arguement in, say 2 years time, that when interest rates go up you the tenant should pay more to compensate the Landlord...

Cheers!

Artful

socrates

PJD wrote: »

Landlady has come back with an answer. She is not going to reduce the rent. She is going to update the bathroom, but at a convenient time when I am on holiday. I have no holidays planned.

I'm a bit annoyed actually, - base rate has come down about 4% the last few months, so her mortgage is likely reduced also. I don't want to cut my nose off to spite my face, but I will start looking out for somewhere else now.

I actually think she is doing a bit of 'give and take' with you - so not all bad.

What kind of reduction what you asking for from what to what?

Balance this against all the hassle and cost of moving.

One other point is she is obviously a stable LL who is not going to get repossessed any time soon. Some of these cheaper rents may be cheap for a reason.

barnaby-bear

PJD wrote: »

Landlady has come back with an answer. She is not going to reduce the rent. She is going to update the bathroom, but at a convenient time when I am on holiday. I have no holidays planned.

I'm a bit annoyed actually, - base rate has come down about 4% the last few months, so her mortgage is likely reduced also. I don't want to cut my nose off to spite my face, but I will start looking out for somewhere else now.

Only a small percentage of mortgage products have fallen significantly, mainly BoE trackers. Most BTL mortgages haven't fallen much or are fixed rate so if you feel any better your LL probably hasn't seen much benefit.

LandyAndy

Does your LL have a mortgage on the property?

Is this her main source of income?

How would you react to your employer saying they want you to accept a, say, 15%, pay cut.

poppysarah

If I was you I'd plan a "week away" at a friends house so she can splash the cash on the bathroom.

pinkshoes

PJD wrote: »

I am a good tenant, I always pay on time and I keep the place good and tidy. I have compared the rental market and it's a little tricky to establish whether I am over paying or not... - personally I think it's slightly expensive in comparison.

You need PROOF that it is too expensive i.e. find a similar property in the same area with a similar decor, and compare the rents. Don't forget there's more to renting that the property... in general, is she a nice landlady? Does she whine about insignificant things? Does she come round all the time? Does she take ages to do stuff?? There are so many BAD landlords out there, so you need to consider this too!

PJD wrote: »

Considering the base rate has gone down considerably, and I keep hearing that rentals have gone down, - I feel that I should really contact the lettings agency and say that I would like to pay less, or I will consider moving (which I will tbh).
Any advice? Is this reasonable? Any pitfalls?

I think you're basing a lot of this on subjective opinion and hearsay. In my area, rents have gone up, as there are more people renting thus more competition for the nicer areas. The not so nice areas have seen rental reductions.

If she's willing to redecorate the bathroom then I would arrange to go on holiday for a week! Some great cheap deals at the moment!!