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A Rental Conundrum

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Some help/perspective please – just negotiating another contract on my rental at the moment.

I am looking to get it down from £785 to £700, we have already been there 14 months. The landlord was quick to sack doing the agreement through a letting agent and that is still the case now, so the agreement would be direct between the two parties.

I am looking for an 18 month agreement. I would like to think we have been near perfect tenants keeping the place tidy and looked after.

Now I have spoken to them they said that they understand this but they have had to remortgage and that mortgage costs have gone up but that they would consider the offer and get back to us!

Rent has generally come down in the last 14 months and where as our house is in great decorative order our two bedder seems to be more expensive that than similar 3 bedders.

What would you do? I want to play hard ball and say that we are not budging from this figure, although we do like the house and would be a pain to move……this is a renters market after all????

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It depends where you are and who you are dealing with. I moved from a rented flat after 4 years starting at £800 per month rising to £850. The new one is in a better part of the same area, bigger, better quality and is £700 per month. But I don't know if this a statistical norm. I can only say that it was dead easy to find and in fact the Landlord begged me to take it, knowing that I'm not going to let him down. A reliable tenant can, in my view, strike a good bargain.

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It’s in Harrogate and although there are quite a few rental properties up for grabs the nice ones are still in demand, this is direct with the owner who has moved in with her new husband.

Having said that it is true about a good tenant, especially when they want a long term deal.

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If you are a reliable tenant and not a pain with constant requests for this that and the other then any decent landlord should be keen to strike a deal..... maybe their financial situation is such that they cannot afford to.

You need to think about your own costs though.. moving isn't free.. you may want to buy new things for a different flat... there are all the costs involved with having two deposits out for a while and paying a month in advance and with all the doc fees etc..... you might well find that the costs of moving easily come to £960 which is the amount over twelve months you are arguing the toss over. (diff between £700 and £780 p/m)

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Yeah with the moving it is almost the hassle of it taking time off work – more than the cost, would do it on the cheap.

I think it may well be their own situation, the bank is evidently sending someone around to value it tomorrow for the new mortgage. They brought 05 and I should imagine we are pretty much back to that price now for it.

Just seems galling to pay the same for a potentially long running deal when rents are dropping – a price for happiness and being settled perhaps.

Cheers.

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Offer to pay 12 months up front. Money talks.

It's not like you're making ££££ on interest.....

Buckers

Don't do this is they have remorgaged and the mortgage costs have gone up the're probably don't have that much equity and your rental home may be at risk

Where's the deposit kept, is it safe?

No letting agent means the LL is already up 10% and you deposit is at more risk.

Show the LL pictures of similar rentals in the area and educate him on what you can get for the same price.

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Don't do this is they have remorgaged and the mortgage costs have gone up the're probably don't have that much equity and your rental home may be at risk

Where's the deposit kept, is it safe?

No letting agent means the LL is already up 10% and you deposit is at more risk.

Show the LL pictures of similar rentals in the area and educate him on what you can get for the same price.

I don't think they are struggling but they are ******** shysters!

Went in at £700 yesterday morning, explained that we are spot on with payements, don't bother them with petty complaints, keep the place well kept, deal with them direct so she saves on not going through a letting agent.....and we want it for another 18 months!

Called back this morning, "got new mortgage, the rent barely covers it. As a good will gesture £725 till January then back to £785 for the remainder of 20 months".

Will call them tomorrow but i suggested that he is maybe not up to speed with rental prices nd he should look at rightmove and also another rental on the same road at £695.

Thinking £715 for 20 months or we say goodbye!

(cheers for reading, admit this is a slightly self focused thread)

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