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Help. Negotiating Rent

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Hi all,

I am new to London and am renting a 2bed flat in E14 area. This is the situation

Scenario1: Flat in manchester road (pierhead lock) near mudchute 280 pw (1 double , 1 single room). We liked this property. looks like its been vacant for over 2 months now. Other properties in the developement priced over 300.

Scenario 2 : 2 Flats in Wheatsheaf close (near mudchute) One at 265, the other at 275.

Scenario 3: flat in limehouse at 270 pw

scenario 4: flat in gallions reach at 240 pw

My husband works in Canary wharf and he comes home late at around 8pm. Is gallions reach area safe enough? Our budget is 240pw. Can we negotiate first,second or third scenarios mentioned above for that price?

We have time till 15 nov to find a flat. Please let me know your thoughts. We prefer living within walkable distance to canary wharf. Any suggestions to where else we can consider living?

You inputs are highly appreciated.

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134 views and not a single reply! :( Come on ppl !

BUMP...

Not in London so cannot help. Maybe start a thread in the regional section? Or perhaps off topic? Or post a comment in a regional/off topic thread that is vaguely related with a link to this thread asking for a response.

Best of luck

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Hi all,

I am new to London and am renting a 2bed flat in E14 area. This is the situation

Scenario1: Flat in manchester road (pierhead lock) near mudchute 280 pw (1 double , 1 single room). We liked this property. looks like its been vacant for over 2 months now. Other properties in the developement priced over 300.

Scenario 2 : 2 Flats in Wheatsheaf close (near mudchute) One at 265, the other at 275.

Scenario 3: flat in limehouse at 270 pw

scenario 4: flat in gallions reach at 240 pw

My husband works in Canary wharf and he comes home late at around 8pm. Is gallions reach area safe enough? Our budget is 240pw. Can we negotiate first,second or third scenarios mentioned above for that price?

We have time till 15 nov to find a flat. Please let me know your thoughts. We prefer living within walkable distance to canary wharf. Any suggestions to where else we can consider living?

You inputs are highly appreciated.

I can only give my experience of negotiating.

House came on at 1500pm.

Dropped 1 week later to 1450.

I offered 1300 after a viewing (where I kept looked pissed off and negative, even though I liked it), thinking I would be laughed out of town.

No laughing, they came back asking for 1350, provided I signed a two year lease.

I would therefore pitch _lower_ than you're willing to pay, so you can move up and they can feel they've squeezed more out of you.

I kept a list of extra things I could offer them when making the offer for negotiation: advance payment, longer lease

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I can only give my experience of negotiating.

House came on at 1500pm.

Dropped 1 week later to 1450.

I offered 1300 after a viewing (where I kept looked pissed off and negative, even though I liked it), thinking I would be laughed out of town.

No laughing, they came back asking for 1350, provided I signed a two year lease.

I would therefore pitch _lower_ than you're willing to pay, so you can move up and they can feel they've squeezed more out of you.

I kept a list of extra things I could offer them when making the offer for negotiation: advance payment, longer lease

PS don't go by asking prices. On rentals they vary widely - landlords hate voids, so the faster you move the more likely you are to get a deal.

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Ok right...

Gallions reach - complete shithole don't even think about it. Next to a massive sewage works, the whole area smells apalling. Many flats are empty, those that are occupied are filled with DSS. No amenities (apart from the retail park which is chav heaven and far from the dlr) poor transport links.Forget it! Don't touch E16 with a bargepole. You have been warned...

Pierhead lock - was once a very nice development, in fact won an architectural award when first built. Unfortunately it was painted white and now looks rather dirty. If it is one of the flats at the front of the development overlooking the river with a terrace, then the lowest you can hope to pay is approx £270. If it is at the back, £240 maybe poss. Not bad at all, bit far from dlr and shops.

Wheatsheaf - Mudchute is another name for Milwall (not good). The whole second half of isle of dogs (south quay and below) is filled with council, gets worse the nearer to island gardens you get. Not sure of the exact development in this case. Boring place to live but probably alright.

Limehouse - Flats in the limehouse basin go for a lot of money, but for no apparent reason. Soulless boxes with few amenities. Wouldn't bother honestly. Next to the apalling ghetto of shadwell (probably London's worst area for deprivation)

As far as negotiation is concerned, the E14 agents are amongst some of the most deluded and inflationary. If a flat is on at 325pw the max you should offer initially is 250pw. They will then usually state that the agent is not looking to negotiate and wants full price(hahah utter shite of course), so give them a couple of days to stew. They will usually contact you back, offer them a bit more etc. Expect to pay 85% of asking price in the end. Never be embarassed, it's a renters market in E14 at the moment, there's loads of empty stuff.

Enjoy yourself...

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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