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Offers/bidding on a rental property
RentalHelp
Posts: 1 Newbie
Hi everyone.
My fiance and I are trying to find a new home to rent in London and I wondered if I could seek your advice on what we're up against?
Having seen some awful, uninhabitable places, had one (full asking price) offer rejected (reason given was that we have a cat, although we were upfront about this from the start), we placed an offer (full asking price) on a property on Thursday.
We chased the agent on Friday who said they are yet to hear from the landlord - same happened on Saturday. We asked them to chase; again, nothing. After further chasing on Monday, the agent emailed us to let us know the landlord has been in touch and they have had another (full asking price) offer from another couple who also have a cat. The agent asked whether we would consider offering more. We asked whether they can tell us what the other offer is and have been told that even the agent themselves does not know this (as the other offer was taken by a colleague albeit in the same office!). We have responded with a (slightly) higher offer (the most we can afford) and are in limbo, waiting to hear back.
We have never experienced bidding for a rental property. In the meantime, the house is continuing to be advertised as available so presumably viewings (and perhaps other offers) continue. We are now starting to question the legality of this. It strikes us as unethical if not illegal.
Would appreciate any advice and/or experience anyone can offer.
Thanks
My fiance and I are trying to find a new home to rent in London and I wondered if I could seek your advice on what we're up against?
Having seen some awful, uninhabitable places, had one (full asking price) offer rejected (reason given was that we have a cat, although we were upfront about this from the start), we placed an offer (full asking price) on a property on Thursday.
We chased the agent on Friday who said they are yet to hear from the landlord - same happened on Saturday. We asked them to chase; again, nothing. After further chasing on Monday, the agent emailed us to let us know the landlord has been in touch and they have had another (full asking price) offer from another couple who also have a cat. The agent asked whether we would consider offering more. We asked whether they can tell us what the other offer is and have been told that even the agent themselves does not know this (as the other offer was taken by a colleague albeit in the same office!). We have responded with a (slightly) higher offer (the most we can afford) and are in limbo, waiting to hear back.
We have never experienced bidding for a rental property. In the meantime, the house is continuing to be advertised as available so presumably viewings (and perhaps other offers) continue. We are now starting to question the legality of this. It strikes us as unethical if not illegal.
Would appreciate any advice and/or experience anyone can offer.
Thanks
0
Comments
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No, it's perfectly ethical and legal.
You aren't entitled to rent the property and if the LL wants to wait for a better offer, that's up to him/her.0 -
Doubt whether it's illegal. However, I'd be inclined to move on... but then again I can't be bothered with the hassle of any sort of bidding war. Unless it's your dream pad, I'd keep looking.0
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Never heard of this before and would not recommend getting into a bidding war for a rental as its not normal practice.. Though nothing illegal about it.0
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It doesn't work on first offers or even highest offers. The landlord chooses who they think suits them best as tenants. Nothing illegal about it. If you are not happy withdraw your offer and look for a different rental.0
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It seems like the landlord first want to receive many offers, so that he can pick the best one. Possibly does the landlord not only consider the rental price, but also if the renters are friendly, reliable and easy-going.0
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