First Time Renter Estate Agent Confusion.

Niklas33

Hi.

I've recently looked at a property, and offered £660 PCM (The Landlord Wanted £695)
On the viewing day, the estate agent told me that it had been on the market for a long time so the price is negotiable.

This is the response i received.

''Given this I think the Landlord would prefer to accept the higher price, as I'm sure you would understand. Would you be wanting to pay the full price? I don't want you to feel pressured into paying more than you want to though''


Should i go back with the full price or call her bluff?

Thanks.

martindow

I suppose it depends how keen you are on this place and whether you have a good choice of others.

If it has been on the market a long time it suggests a buyers' market so I'd stick to the offer and look at others. On the other hand if time is short and you need a place very soon to avoid sleeping in a van with your possessions ...

Fosterdog

Do you think it's worth £695? If not maybe offer £670. How desperate are you for somewhere to live?

elverson

How long would the fixed period of the tenancy be? You could ask for £695 but with no rent rises for 2 years for example.

LEJC

I've never really encountered negotiating with rentals....it's always been my assumption that the price quoted would be the price offered.
If after listing the property for a while there is little interest in it then the price is dropped and then it's advertised at the lower price.

My guess is that the property has perhaps been hanging around and as such there is limited interest in it...but it is the LL who controls the price and would need to take into account that whilst the property is empty they will have expenses to pay on it during the void.

Of course they would prefer you to pay the higher amount but if you just don't think it's worth it then look elsewhere...it comes across a little that this might be a ll that wants to squeeze every last penny out when perhaps even the LA might feel that its slightly overpriced!

I'm not sure its a case of calling bluff if you dont rent the property the LL believes that someone will and may be prepared to have a longer void in order to get their preferred rent...madness in my opinion...but who am I to judge...I would perhaps be accepting your lower offer on a 12 month contract rather than leave the property empty for another month and lose a whole months rent.

Niklas33

It's single glazed windows.
Mould is rife outside the back door.

Just not worth that price.

G_M

elverson wrote: »

How long would the fixed period of the tenancy be? You could ask for £695 but with no rent rises for 2 years for example.

Indeed. Even if you get the reduced price, if it's a 6 month contract the LL might increase the rent in 6 months.

LEJC

Niklas33 wrote: »

It's single glazed windows.
Mould is rife outside the back door.

Just not worth that price.

Then walk away....that's your cue.
A LL with grander expectations of their property IMO

robatwork

Niklas33 wrote: »

''Given this I think the Landlord would prefer to accept the higher price, as I'm sure you would understand.

Sounds passive aggresive nonsense to me. Of course he would prefer to. I would prefer to have £20,000 in my pocket than the piece of lint I just pulled out.

Everything's negotiable (apart from mortgage rates) - I negotiated rental prices downwards a couple of times, and when an ex-LL wanted to raise the rental I said I would leave, and I would have too. At the time the flat I was in was worth £500 to me (or whatever it was) not the £550 she wanted to raise it to. She caved in as I was a good tenant I presume.

Counter with "That offer of £660 is ALSO contingent on not being raised for 18/24 months, and I am looking at other properties, so my offer expires on 2nd August."

Niklas33

Thanks so much.

I have more viewing's tomorrow, can i just ask if i want to rent the property straight away how would i go about doing it? (my apologies for my lack of knowledge, i'm a first time renter)

anselld

Niklas33 wrote: »

''Given this I think the Landlord would prefer to accept the higher price, as I'm sure you would understand. Would you be wanting to pay the full price? I don't want you to feel pressured into paying more than you want to though''

"Given" what?