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Bankrupt Idiot

Reduced Rent

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Actually, I need to know this too. I am looking at flats in Swansea and they seem to want ridiculous prices like 650 PCM for a studio appartment. A friend of mine has a 2 bedroom house and his mortgage is about 400 PCM. I get the impression that a lot of people have payed over the odds and now want us 'mugs' to pay their interest only mortgages.

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To be honest, I do not think there is much room for "haggling" when it comes to renting. There are that many people renting at the moment that landlords are not going to have too much trouble filling vacant properties. The only haggling you may get away with is if a property has rent significantly above its market value rent, in which case you may get it down to market rent. But in this case, why not just look elsewhere?

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Guest magnoliawalls

General rule of thumb - if a place is empty offer less than they are asking.

If the tenants are still there they will usually only accept the advertised rent.

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Look at rentals on rightmove in the area.

If there is a glut of rentals that sit on rightmove for weeks and weeks then you can easily bargain.

If there is little or no good property to rent that hangs around very long then you are not in a strong position.

When I moved into Bristol the market was very strong (about 2 years ago) and I still managed to negotiate £25 per month off.

When I moved back out of the city I managed to get £75 per month off... this was only meant to be for 6 months but the landlady has now accepted it for the term of the tenancy.

Its all about supply and demand. If there is too much supply and too little demand then it forces the market price down whether landlords like it or not.... some might not play ball, but I suspect they won't be in business too long :-)

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I gave someone else this advice earlier -

It it worth going into the agents where you want to rent and getting their physical lists - they say when a property iis available - so if you see lots of "available immediately" that means they have been on at least 4-8 weeks.

Primelocation is also a good website - you can keep an eye on what is moving & what is not.

From a renter's perspective December is a great time to get a bargain as its a lousy time to find tenants (most people jut stay with friends over Xmas & then start in the New Year.

The things I consider when assessing tenants are:

How long they want the property (ie the longer the better)

Closeness to asking price in rent

When do they want to move in (the sooner the better if nearing end of tenancy - or if empty)

Age

Hope that helps - the more research you do to assess how strong your negotiation position is - the better.

Knowledge is power.

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  • 301 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% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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