Going about asking landlord to lower the rent?

JDMYOFAN

Hi everyone, hoping for some friendly advice here. Sorry for the essay but it's needed!

My partner and I have been renting a property for nearly 2 years now and I'm attempting to get on top of my finances. My partner's job position has changed which means what was a central location for the both of us to work, is no more. I'm considering relocating which would half our travelling times and expenses.

We are happy with our current location due to being central to the family and shops, though I'm hoping to propose to the landlord to drop the rent by 10% per month. The apartments above and below us have both been unoccupied for over 6 months, so this would hopefully be grounds for negotiation.

The problem is, our rental fee appears to be the 'going rate' for a property similar to ours, is it still worth a shot?

Can anyone advise the best way to go about this? I have the landlords direct contact details (as we have had NOTHING but issues with the lettings agency, who don't ever pass any information on when requested). I was thinking about a friendly email to our landlord stating that our circumstances have changed (job location (which is true)) and to offset the additional travelling costs we'll either have to reluctantly relocate, or ask he drops the rent so we can continue to live there. The landlord is very happy with us as tenants as we treat the property with respect.

Things to take into consideration:

* We would be prepared to move should the rent stay the same.
* Surrounding properties have been unoccupied for some time
* We have been living at the address for nearly 2 years, sailed through inspections
* Mortgage rates have dropped, potentially the landlord is paying a very small mortgage
* Ideally we would like a 20% reduction, then negotiation might be 0%
* The main reason for the reduction is to offset the travelling costs.

I don't intend on 'bullying' the landlord into dropping the rent but if the landlord has the property unoccupied for 1 month, that's a 100% loss, which is the same loss as 10 months at the lower fee or 5 months at the desired reduction.

I have drafted a letter, but would appreciate input from both landlords and tenants points of view.

mlz1413

Getting your finances in order would not be a tact I would mention, you couldn't negotiate a lower mortgage payment because you were travelling more.

Other properties being empty means you have no neighbours and no noise more parking etc so that could be seen as a plus point.

I'd also avoid the mortgage cost too, if your LL is on a fixed rate it will have made no difference to him and if he has come out of a fixed rate could well be paying more as B2L rates are nothing like private ones.

I think I would draft a letter saying that due to circumstances you may have to look for a cheaper place to rent, as you very much like the flat and him (LL) could a reduction be given if you dealt direct and saved him the agents fees.

As you say it's worth a shot but if you get it wrong you will be looking for somewhere else to live anyway.

jadex

Personally I wouldn't touch the point about offsetting travelling costs. It is your business anyway and either renting or living in your own property you would have to pay for it. And there is always a chance of changed circumstances in the unknown-to-be future.
I'd stick to the facts you are happy to stay if the rent is reduced by £xyz. I'd point the rental prices trend (down and there is a thread with a link to BBC webpage about this) and the abundance of properties to rent on the market.

00ec25

it is, as they say, currently a buyers market, you face only rejection.
If they are that happy with you they'll soon get over the "affront" of being asked if they don't like it. After all back in the good times rents would rise, so why shouldn't they fall now?
I recently took on someone who openly admitted the reason she was moving (0.5 miles) was I was cheaper than her current place. I have no illusions about her loyalty or intention to stay but as you say it prevented a void so I'm happy.

princeofpounds

Just be friendly, honest and plain.

It is still worth going ahead even if it is going rate as you have been a good tenant and the LL may want to 'pay' to keep you.

The point that makes me certain in that advice is that you would be prepared to move for a cheaper rental.

Don't make it a long letter. List your key reasons, make it clear that you would be willing to move but only in the sense that circumstances have forced you that way. I'm not sure you want to be too cheeky on the negotiating start point as there is a continuing relationship you have to maintain here. But equally be clear on where you stand if a counter-offer comes back that is also cheeky.

JDMYOFAN

Thanks for the quick feedback people,

I understand that all agencies are different, but any idea what the average agency fee would be for a £500 property?

I wasn't going to mention to the landlord about the mortgage rates or getting on top of finances but I'd likely to subtly drop the hint that the apartments have been unoccupied and that we were considering moving to a more central location to live, as this would reduce our travelling costs and time and we would be paying the same rental fee's (which is true).

I'll work on my draft email then and see what you lovely people think

Pee

You are in a good position as you don't mind moving. I'd be quite sympathetic to this if you were my tenant, with a review in twelve months, provided that the mortgage was manageable and I could afford to.

Moving is such a hassle I'd hate to do it again myself.

JDMYOFAN

It's a tough decision, but we've lived in what feels like an institutional apartment from 2 years and I would ideally like to move somewhere with a garden.

In the meantime however, if we can have a rent reduction for 6-12 months, this would keep me happy, as I know the money would be going towards a better future (even if it's a small amount)

who knows, maybe they have another more suited property!

I'm just struggling how to word 'We're really happy living at the property, we treat it as if it were our own. We would be happy to continue living at the property if you are willing to reduce the rent by 20%. We'd be happy to deal with you direct, rather than through an agency, and would continue to co-operate with any needs"

help!

stanleyunwin

Why not contact the landords of the neighboring empty properties. If they have been empty for a while, you might grab a bargain - and wouldn't have to move far!

JDMYOFAN

That's actually a very good idea,

How does this sound then folks?


Dear Mr X,

Recently my partner (OH) has changed her place of work which therefore means that the property in XXX is no longer 'central' for the both of us. We have been looking at rental properties in ZZZ and the surrounding villages, as this would be the more central location for me to travel to YYY and Jamie to travel to BBB.

However, we would like to remain living in the property for the foreseeable future, though this would only be feasible if you would be happy to negotiate the current rental costs. We're more than happy with you as the Landlord and with the property itself, as you're aware we treat it as we would if it were our own.

Financially speaking, we would like to see a reduction to £400 PCM. We'd be more than happy to bypass the current lettings agency and would therefore co-operate with any inspections/help/viewings etc in the future should this be required.

I do hope this doesn't offend, as we are happy with the property, though circumstances have meant we may need to reconsider our options. Please note, this isn't me giving you our notice.

Hope to hear from you soon,

Many Thanks

NNN

mlz1413

I think I'd take the personal stuff out, how about:

Dear Mr X,

Due to recent changes in my partners job we are having to reconsider our monthly spend and therefore location.

We are very happy here and so would like to ask if a reduction in rent was possible so that we do not have to move. Our ideal rent would be £400 pm we'd be more than happy to bypass the current lettings agency should this be an option.

I do hope this doesn't offend, as we are happy with the property, though circumstances have meant we may need to reconsider our options. Please note, this isn't me giving you our notice.

Hope to hear from you soon,

Many Thanks

NNN