Need Help in Neg. Rent Pls!

Dummie_2

Hello fellow money savers

OK. I've never, and I mean never ever negotiated or haggled on the price for anything. I don't have the skills or the confidence it takes!!

Anyway, DH and I have found a flat in Farnham, Surrey which is on for 1025/mth.

I'm going to try to post the link. Hope it works.

Edited: deleted link in fear of competition!!

It's just been renovated so looks perfect inside. The LL has had the curtains and carpets changed too.

The last tenant moved out late Nov. Renovation took about 1mth so it was back on the market late Dec. So far they have not received any offers on it.

Took a deep breath this morning and made an offer of 925. It was rejected (as expected) and the LA has come back saying that because the LL has put in so much time and effort in renovating it she is ideally looking for the asking price of 1050. The LA then goes on to tell me that she expects the LL will accept 1025.

Before I made the offer of 925, I did ask the LA if they would prefer me to give them the amount I was willing to pay, full stop, no negotiations allowed or to offer a lower amount and negotiate on it. The advice was to do what I wanted to. So......having been surfing this site for a little while now I wanted to try my hand at money saving too.

But I feel I'm stuck. I'm out of my league. Sorry if this sounds stupid but I've never done anything like this before. What should I do? Can I go in again at 950 or is that a waste of time since the LA said the LL was looking for the asking price?

Looking at the link, can anyone with the knowledge and experience advise me what they think the flat is worth?

Please please help. We really like the flat and we don't really have any other options but obviously I want to keep the pennies in my purse.

Thanks so much for any advise you may be able to give.

Dummie

prudryden

What a nice place!!! I would delete the link, as my wife likes it already. You may get some competition from tenants on this site.

The LL probably will not lower the asking price much. It's not far from the Univ. of Surrey. Lots of students and teachers looking. Lots of major companies in Farnborough which is not far away.

The best thing is to meet the LL face to face - difficult negotiating through a LA. Sometimes, you will get a better deal if the LL really likes you.

irnbru_2

Dummie wrote:

http://www.findaproperty.com/displayprop.aspx?edid=0&salerent=1&rowid=63eff6a7-2d94-4102-ba29-24d49eae2d60

According to that site £957 is the average in the last three months.

Compared to the 2 beds, there does seem to be a premium on the flat (probably lack of similar properties).

There are several 3 bed houses to rent within a similar distance to the railway station but all at less than the asking price for that flat.

Dummie wrote:

It's just been renovated so looks perfect inside.

Should hope so!

Dummie wrote:

The last tenant moved out late Nov. Renovation took about 1mth so it was back on the market late Dec. So far they have not received any offers on it.

3 months void. When can you move in?

Dummie wrote:

The LA then goes on to tell me that she expects the LL will accept 1025.

How long are you renting for?

Dummie_2

prudryden wrote:

What a nice place!!! I would delete the link, as my wife likes it already. You may get some competition from tenants on this site.

Are you being serious? You're scaring me! How do I remove it?

Dummie_2

irnbru wrote:

According to that site £957 is the average in the last three months.

Compared to the 2 beds, there does seem to be a premium on the flat (probably lack of similar properties).

There are several 3 bed houses to rent within a similar distance to the railway station but all at less than the asking price for that flat.

3 months void. When can you move in?

How long are you renting for?

I can move in within the next few weeks and am looking to rent for at least a couple of years.

Should I say to the LA what you have said above re the average price and the prices for 3bed houses and go in again at 950? Or more?

prudryden

The agent would have put the asking price higher knowing all tenants ask for a discount. If the LA says the LL will accept £1025, then you know she will accept. She may accept £1000.

If she only finished renovating in late Dec., she would have been told that January is usually a bad time for rentals, so probably wasn't expecting many offers before now anyway.

Voids aren't that crucial for some LL as they get an exemption from Council Tax for three months if property is unfurnished and empty.

prudryden

Go to your post, hit edit, highlight link, and hit delete.
How does the place stack up against the other properties you viewed?

Tell the LL you are looking to stay two years and would be willing to give her two months notice, rather than the one month normally given. She will like that.

chant1l

The landlord will prefer someone who can move in yesterday, can you move in sooner? I am a landlord myself and never entertain negotiations, but you could say you'll have it at £960 and move in x date giving the deposit today, with references....
If he leaves it another month his £960 today is far better than losing £960 (plus paying council tax for the month) for a month = £80 loss for the first year.

Nelliejg

I would go for it and make another offer. The LL could be bluffing just to get as high price as possible. There is absolutely no harm in asking.

What is the absolute maximum you can afford to pay? Keep making slightly higher offers until you reach that, if they still say no then you'll probably have to look elsewhere.

Dummie_2

chant1l wrote:

The landlord will prefer someone who can move in yesterday, can you move in sooner? I am a landlord myself and never entertain negotiations, but you could say you'll have it at £960 and move in x date giving the deposit today, with references....
If he leaves it another month his £960 today is far better than losing £960 (plus paying council tax for the month) for a month = £80 loss for the first year.

When I made the offer of 925, the LA did ask when we'll be able to move. I told her 3wks but we'll be happy to take the property on as soon as they complete all their necessary paper work. Even if it meant paying rent on an empty property for the peace of mind that we'll have someplace to move to when we finally complete the sale of our current place.

Do I need to reword it to give an exact date?

chant1l

I would reemphasise that you are ready to move in now, and start paying now, that you have no kids/dogs .
It may be that the agent just hasn't passed this info on. Add that you prefer this house but have another locally, at £1000 but in better nick or with a study or some other benefit. Do not say that it is all you can afford at any time.
It could be that the LL is non negotiable so you may have to just offer full rent.