Renting - is it Ok to haggle over rent?

Gold_Shogun

Gorgeous_George wrote: »

I'd be happy to discuss the rent. However, as I have been lucky and had lots of people wanting to rent my property, I have never needed to accept less than asking price.

It is unlikely that I would accept a low offer unless the tenant had exceptional references from a personal friend of mine or a family member. I would expect something in return - maybe a guarantor, a larger deposit or an agreement that I would have 2 months' notice and unhindered (but reasonable) access once notice to quit was received (to show prospective new tenants around).

My view is almost identical to George's, with the small proviso that although I have never "needed" to accept less than asking price (I usually charge below full market value anyway for my own reasons), I have sometimes dropped the rent anyway in order to help out applicants that I "think & hope" would be good/stable long term tenants.

wecanhelpu

I've been a landlord and renting out property for over 20 years and have done this many times.

Generali

Mrs Generali offered £1050 pcm last time we were looking on 2 places, each up for £1400. Both LLs said "Yes".

rosysparkle

It depends on the market in your area, and how long the property in which you are interested has been available.

I work for a lettings agent and there are some properties where we know the landlord is open to negotiation, and some where they have no need to.

It's always worth asking.

wibble68_2

Apologies for going slightly off topic, but some friends of mine
are thinking of renting for the first time and I don't know enough
about renting to help them.

The points made in previous posts seem to be sound advice.

What tends to control rent inflation and would someone renting
expect to see their rent go up by CPI or RPI each year?

Also in the current climate of interest rate rises, would the landlord
try to pass on any mortgage increases?

Many Thanks

Wibble

Guy_Montag

wibble68 wrote: »

Apologies for going slightly off topic, but some friends of mine
are thinking of renting for the first time and I don't know enough
about renting to help them.

The points made in previous posts seem to be sound advice.

What tends to control rent inflation and would someone renting
expect to see their rent go up by CPI or RPI each year?

Also in the current climate of interest rate rises, would the landlord
try to pass on any mortgage increases?

Many Thanks

Wibble

Often landlords don't increase rents annually - once they have a good tenant they don't like to lose them. However, some will try to increase rents as interest rates go up - I tend to tell them that I'll move out if they do (& since I'm such a good tenant :A) they decide it's not worth it.

rosysparkle

It would be better to start your own thread, wibble.

Rents are controlled by market forces; landlords can try to pass on interest rate rises but tenants can leave. If landlords ask too much rent, their property will be empty. Right now (here) because of the floods it's a l/l market and rents can be put up easily, once things settle down it may well be a tenant market again. Other areas will be different, there's no definitive answer.

Gold_Shogun

rosysparkle wrote: »

Rents are controlled by market forces; landlords can try to pass on interest rate rises but tenants can leave. If landlords ask too much rent, their property will be empty. Right now (here) because of the floods it's a l/l market and rents can be put up easily, once things settle down it may well be a tenant market again. Other areas will be different, there's no definitive answer.

Bob quietly sits back with a Large Whisky to await the "flood" of posts from nutters claiming these floods are part of a Govt. & BoE conspiracy to "prop up" HPI for Gordon Brown's honeymoon by reducing housing stock.

... Also awaits more posts from different nutters claiming said floods are a zionist/muslim/scientology/christian plot to cause a House Price Crash to financially terrorise the UK.

... Also awaits even more posts from even more (but different again) nutters claiming the floods were caused by terrorist Buy-To-Letters destroying the country's flood defences in order to raise rents & make millions off the back of "poor peasants" who are now homeless and/or who couldn't afford a mortgage on their own rowing boats.


Gee ... Another couple of Whiskies & I'll be totally Brahms !! :beer:

Cheers
Bobbejaan Rachmann !!

rosysparkle

Pour one for me, G_S, heavy on the whisky, light on the soda.

Gold_Shogun

rosysparkle wrote: »

Pour one for me, G_S, heavy on the whisky, light on the soda.

... What's "Soda" ??? ... I thought that was an Irish bread !