How to negotiate rent price?

robatwork

In a competitive market area - no chance. Elsewhere - I have done so successfully once. I also got the first month free as I agreed to clean up rather than let the landlord do it - well worth the effort!

SeaVixen

I was wondering something similar about paying either 6 months or 1 yr's rent in advance, in order to get a discount on the overall cost.

Even though the interest on having the rent in the bank account potentially up to 11 months early wouldn't swing the deal, surely there's some benefit to - as Alchemist is saying - having the security of the money already being dealt with.

Any LL's in the thread - would this save you any worthwhile amount of time? Even 30 mins a month to check the rent has been transferred and complete any paperwork would equate to 5.5 hours over the year...

theartfullodger

alchemist.1 wrote: »

Some will accept a lower level of rent if you pay upfront for a six month period.

I assume if offered this there's a much higher likelihood of brothel or cannabis farm. (Anecdotally it's offered usually by a smart, plausible couple you never ever see again.. others then occupy..). Heard of another landlord phoned last week by his letting agent & told Police were applying to court for a closure order for a brothel the next day.....

Make an offer. Don't be surprised if refused.

Had an old friend in a different business, if a customer asked for a lower price he'd reply..."didn't realise price was flexible in that case it just went up....-."

slopemaster

ognum wrote: »

As a LL I have never reduced an asking price rent, I have also never increased one despite being offered more.

Ditto.....

HappyMJ

SeaVixen wrote: »

I was wondering something similar about paying either 6 months or 1 yr's rent in advance, in order to get a discount on the overall cost.

Even though the interest on having the rent in the bank account potentially up to 11 months early wouldn't swing the deal, surely there's some benefit to - as Alchemist is saying - having the security of the money already being dealt with.

Any LL's in the thread - would this save you any worthwhile amount of time? Even 30 mins a month to check the rent has been transferred and complete any paperwork would equate to 5.5 hours over the year...

30 minutes a month. I don't think so. It takes a cursory look at the bank statement once a month to make sure it's arrived. About 5 minutes maximum. There is no paperwork...well I don't do any paperwork every month.

pollydollydoodah

Depends on area and house. On one rental we offered less as there were lots of similar properties (this was years ago)

But recently I'd doubt you'd get the opportunity as we rented one house and there were four people viewing within than morning so not a chance to negotiate .

Prothet_of_Doom

alchemist.1 wrote: »

Some will accept a lower level of rent if you pay upfront for a six month period.

And sensible landlords know this is classic behaviour for a tenant planning a drug farm.

As far as negotiation goes, it all depends on how desperate the landlord is.

When we recently advertised our 3 bed semi, at "the going rate" via a low cost on-line agent. We had 30 people interested and we took 5 viewings of which 3 wanted it. When I contacted the others to let them know, I had people offering us more.

I guess the lack of application fees, low referencing fees, really good advert and photos and a nice house in a nice area at a reasonable price may have helped. Maybe not having to deal with estate agents made people more interested too.

https://www.openrent.co.uk/property-to-rent/liverpool/3-bed-semi-detached-house-chesterfield-road-l23/105796

New tenant wants to stay years rather than months, and the other 2 who viewed and wanted it, would have stayed 6 months as a stop gap. If you think that a moderate void is worth about 20% less rent, you might find playing on the length of time you want to stay helps the negotiation. Letting agents don't want you to stay more than 6 months as "more fees"

Prothet_of_Doom

theartfullodger wrote: »

Had an old friend in a different business, if a customer asked for a lower price he'd reply..."didn't realise price was flexible in that case it just went up....-."

Had a mate with a classic car who refused to sell to someone who offered low. If you don't know what it's worth, then I'm not selling my pride and joy to you, because you won't look after it.

Also "heard" of an artist, who would take FauxOffence, and lay it on thick how insulted she was, and refuse to sell the item.

alchemist.1

Prothet_of_Doom wrote: »

Had a mate with a classic car who refused to sell to someone who offered low. If you don't know what it's worth, then I'm not selling my pride and joy to you, because you won't look after it.

Also "heard" of an artist, who would take FauxOffence, and lay it on thick how insulted she was, and refuse to sell the item.

Would you accept higher though?

northofthewall

Last time we moved we were as good as told by the letting agent showing us a place to make a lower offer. He even suggested a figure about £150 under the advertised price! It was poky little bungalow with weirdly low ceilings and a strong smell of stale smoke, and a freight train had just gone past at full speed right at the bottom of the weed- and cat poo-strewn yard.

I'm not sure I'd even have lived there for free, though, which says to me that negotiating is only for when the landlord is living in cloud cuckoo land about the value of their property.