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As a tenant, how can I make sure I'm paying a fair rent???
weebit
Posts: 411 Forumite
Hi.
I'm currently renting a 4 bedroom house in NW London through an agency. We have a 6 month tenancy agreement that expires in a few months time.
I believe that we are paying more rent than the property is worth. I have determined this by looking online at similar properties in the area and most of them are at least £200 a month cheaper than we are paying.
How can I ensure that I'm not paying over the odds for the house? I want some weight to put behind my case when I ask to reduce the rent when it comes to renewal. I think it would be a bit cheeky to ask to reduce it during the current tenancy though
any thoughts are welcome
I'm currently renting a 4 bedroom house in NW London through an agency. We have a 6 month tenancy agreement that expires in a few months time.
I believe that we are paying more rent than the property is worth. I have determined this by looking online at similar properties in the area and most of them are at least £200 a month cheaper than we are paying.
How can I ensure that I'm not paying over the odds for the house? I want some weight to put behind my case when I ask to reduce the rent when it comes to renewal. I think it would be a bit cheeky to ask to reduce it during the current tenancy though
any thoughts are welcome
Aiming to pay off £50,312.94 in less than 3 years - Starting from December 2015
Current debt total: £32,756.02 (as of 1st March 2018)
Date Free Date Aim: Summer 2019 (8 extra months needed
)
Current debt total: £32,756.02 (as of 1st March 2018)
Date Free Date Aim: Summer 2019 (8 extra months needed
)0
Comments
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Hi.
I'm currently renting a 4 bedroom house in NW London from through an agency. We have a 6 month tenancy agreement that expires in a few months time.
I believe that we are paying more rent than the property is worth. I have determined this by looking online at similar properties in the area and most of them are at least £200 a month cheaper than we are paying.
How can I ensure that I'm not paying over the odds for the house? I want some weight to put behind my case when I ask to reduce the rent when it comes to renewal. I think it would be a bit cheeky to ask to reduce it during the current tenancy though
any thoughts are welcome
I know that the council has a rent officer who deal with how much rent a property is worth. Not sure if they only do this if you are claming house benefit. I think its worth giving them a ring, as even if they don't they might be able to advice you.
Before you moved in to the house, did you check then how much other houses were renting for?Married 09/09/090 -
thanks.
when we moved in, it was kind of a 'panic buy' in a way. we had less than 2 weeks remaining on our old tenancy and this was one of only 2 4-bedroom houses in the area we wanted which were available at the time. the other place we saw was £50 a month more than the place we took, althought it was a bit bigger.
one of my housemates is claiming housing benefit because she is on a low wage, so perhaps we could follow that route.
anthing else we could try?Aiming to pay off £50,312.94 in less than 3 years - Starting from December 2015
Current debt total: £32,756.02 (as of 1st March 2018)
Date Free Date Aim: Summer 2019 (8 extra months needed )0 -
Start looking for a new place?
TBH you signed up for this rent so it is late in the day to say the rent is too high. How would you feel if a landlord asked for more rent because the rent is too low?
If you remain in a property over a year and the landlord increases the rent by way of a section 13 notice then you can appeal it with the private rent officer at your local council. This doesn't apply in your case.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
I am from that area,were abouts is the house.0
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The thing with NW London (and probably other parts, but I don't venture far
) is that a few streets can mean a big difference in prices of property and therefore rent. It can also mean moving across borough boundaries which can have a major effect on housing allowance rates. I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
I agree with silvercar for instance i came from Edgware and 3 bed houses range from 1200pcm- 2000 pcm depending on which end of the road you are.0
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A fair rent on the open market is basically what someone is prepared to pay.
Your options are to move out at the end of the agreement or stay put and negotiate.0 -
May be find out the prevailing price of the house and calculate what will be the monthly interest amount on an interest-only mortgage. Obviously, this again will only give an approximate figure and will be subjective.0
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