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slater14

Renters Getting Tricky - And I Admire Them For It!

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Had a property become empty over the late January period (a horrible time to try and re-let) and put it with 2 agents (joint agency - they hate that!) and have had this person playing off the 2 agents against each other for the best deal :D:D:D

The house was up for £605.00 pm and he offers £525 so I refuse and come come back with £550 if he signs up within the next 2 weeks.

So he goes to the second agent and offers £550pm but he wants extra furniture etc etc.. so I say LOL...he's just been onto the other agent and I just know its the same person. Tell him at that price he gets it 'as is'

So now he's given up on me and is now trying to drag the agent fees down to nothing!! NO set up fee, No credit check fee, No contract fee etc etc etc....

I know I'm going to like this this person.

Tenants are getting wise are driving hard bargains.......and the best of luck to em' all

TTRTR, As I said quite some time ago....how low can you go?

I can go further.....and you know why ;)

P.S. if this person is reading this (and judging by their tactics they might be!) well done you!

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I've negotiated leases for longer than 18 months without any rent increases. I also negotiated a landlord installing a dishwasher and a new toilet. I also negotiated a lease where the landlord only keeps as a deposit my last month's rent. Everything is negotiable.

The sad thing is that unfortunately many renters are a bit young and naive and don't realise that shopping for a rented flat is all about haggling!

frugalista

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I'm busy looking for a rental property and it appears like there is a glut of places to rent.

I've been going to vendor's and telling them to drop their prices.

I'm also becoming very picky, asking for parking, garages, views, storage space, newly renovated etc.

Amazing, 3 years ago in London you basically had to take whatever you could get!

I really wouldn't like to be a landlord now that this market has turned, and I reckon it's going to get worse before it gets better (or better before it gets worse :) )

Edited by BandWagon

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Maybe I ought to start shopping around, but I can't see that much has changed in my area :(. Still, I suppose it wouldn't hurt to phone my landlord and ask for a rent reduction at some point :).

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I'm busy looking for a rental property and it appears like there is a glut of places to rent.

I've been going to vendor's and telling them to drop their prices.

I'm also becoming very picky, asking for parking, garages, views, storage space, newly renovated etc.

Amazing, 3 years ago in London you basically had to take whatever you could get!

I really wouldn't like to be a landlord now that this market has turned, and I reckon it's going to get worse before it gets better (or better before it gets worse :) )

I know this topic may end up in the 'Renting' topic but it really is relevant to house prices.

It is relevant in as much as I have never had an offer so far below 'asking' before. Potential Tenants are aware something is afoot in the market and are driving hard bargains....and quite rightly so IMHO

As I've always said - 300% increases in 7 years seemed wrong to me and I didnt alter my business plan because of this 'blip' and didnt borrow against their alleged 'worth' to increase my exposure...TTRTR did.

We shall now see who was right.

...and as I've said before, how low can you go?....if you bought during the last 4 years believe me, I can go a lot lower (and will) to clear the decks of the BTL'ers.

Alls fair in love and war....and business ;)

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I know this topic may end up in the 'Renting' topic but it really is relevant to house prices.

It is relevant in as much as I have never had an offer so far below 'asking' before. Potential Tenants are aware something is afoot in the market and are driving hard bargains....and quite rightly so IMHO

As I've always said - 300% increases in 7 years seemed wrong to me and I didnt alter my business plan because of this 'blip' and didnt borrow against their alleged 'worth' to increase my exposure...TTRTR did.

We shall now see who was right.

...and as I've said before, how low can you go?....if you bought during the last 4 years believe me, I can go a lot lower (and will) to clear the decks of the BTL'ers.

Alls fair in love and war....and business ;)

If you have any houses you want to rent to me in Hampshire PM me! :D:D:D

Edited by Jason

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Slater,

Bit off topic but a local letting agency has now started plastering "Student House" over their boards. What the hell is that all about? Not like it is swap-over time and not as if it won't put every other potenital renter off in an instant, let alone probably annoying the local residents too.

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Slater,

Bit off topic but a local letting agency has now started plastering "Student House" over their boards. What the hell is that all about? Not like it is swap-over time and not as if it won't put every other potenital renter off in an instant, let alone probably annoying the local residents too.

Yeah,

An interesting phenomonon.

The presumed wisdom in Uni towns (and Manchester has the largest student population in Europe) is that 'students lets' make easy money.

Obviously, if this were true every single property in Manchester would have been purchased by P&O or Peel Holdings (or other huge companies heavily involved in our region).

The sad fact is, students are either your mainstay or a last resort option because you cant rent your property.

Manchester Uni, Salford Uni, The Business School etc etc etc.. have built their own accomodation in Manchester and have created massive campuses (is that the plural of campus?) in the city centre perfectly suited for students....the private student landlord in Manchester is struggling big time.

I'm sure there must be lots of links for these new flats/halls mainly based around Cambridge street in Manchester....someone will do the search I'm sure.

Instead of renting your property for (lets say) £600 pm you try to let to students as a last resort for £x amount per room which seems to give you a bigger return forgetting of course that students are not renting for a full 6/12 months (holidays etc..) and you didnt buy that property for stundents in the first place.... students are creatures of habit. They want to be around other students, not stuck in residential areas.

In a nutshell - Last gasp of a drowning man.

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credit check fees?

agent fees?

contrawct fees?

****** all that i pay cash 6 months up front, on the spot.no questions asked and if the landlord dares come snooping around i will break there neck.

ive always rented like a commercial rent, ie its not there buissness to come around

they wont snoop around to someone renting a shop off them, heck they wouldnt dare its a contract, and housing is the same.

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Slater,

Instead of renting your property for (lets say) £600 pm you try to let to students as a last resort for £x amount per room which seems to give you a bigger return forgetting of course that students are not renting for a full 6/12 months (holidays etc..) and you didnt buy that property for stundents in the first place.... students are creatures of habit. They want to be around other students, not stuck in residential areas.

Yep, thats the one, price out the local renter market and then hope by stuffing 5/6 students into a 3 bed place you can make the numbers run.

Never mind the full 6/12 months these places are E M P T Y now.

On the subject of students, the first confirmation of "universitybubble" popping looks to be in the wings.

.........................................

http://www.yorkshiretoday.co.uk/ViewArticl...ticleID=1306932

Fees attacked as university applications fall

David Hogg

THE Government's education policy was condemned last night as figures showed a significant drop in the number of students seeking places in Yorkshire's top universities.

Officials at Leeds, Sheffield and Huddersfield universities all reported a fall in applications from students wishing to begin their course in the autumn, just as the Government plans to bring in tuition fees of up to £3,000 per place.

http://politics.guardian.co.uk/publicservi...1682298,00.html

Applications to university will fall as fees rise, minister admits

Matthew Taylor, education correspondent

Monday January 9, 2006

The Guardian

University applications are likely to fall for the first time in eight years after the introduction of increased tuition fees, the government admitted last night.

Speaking ahead of next week's deadline for applications, the higher education minister, Bill Rammell, estimated that the number applying to start university in the autumn would be down by about 2%.

Ministers have repeatedly argued that the £3,000 fee would not put students off and yesterday Mr Rammell insisted a 2% fall represented a "strong performance", given the surge in applications last year.

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credit check fees?

agent fees?

contrawct fees?

****** all that i pay cash 6 months up front, on the spot.no questions asked and if the landlord dares come snooping around i will break there neck.

ive always rented like a commercial rent, ie its not there buissness to come around

they wont snoop around to someone renting a shop off them, heck they wouldnt dare its a contract, and housing is the same.

Hi homeless,

Well, not quite.

I rent commercial space for another interest I have. The landlord of this space and I are on first name terms and he inspect HIS property on a regular basis.....and I make him a cup of tea and treat him with the respect he deserves for OWNING the space I RENT from him....because I WANT the SPACE he has to rent NOT beacause I am FORCED to rent that space.

I do not consider it 'snooping' if he wants to check on HIS property and by the same rule, I inform him of problems I have which he can then remedy..

..what you want is ownership. No snooping. No landlord (just the mortage company) but you cant afford to pay 25 years 'up front' to own that property.

You see, I'm not totally 'property' I go where the money is and dont get obsessed about who owns what as long as I'm making my butty.

My advice - dont fret who owns what. Pay what you need to pay and make your end count.

...so there you go. Slater is both a landlord AND a renter.

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Slater,

Instead of renting your property for (lets say) £600 pm you try to let to students as a last resort for £x amount per room which seems to give you a bigger return forgetting of course that students are not renting for a full 6/12 months (holidays etc..) and you didnt buy that property for stundents in the first place.... students are creatures of habit. They want to be around other students, not stuck in residential areas.

Yep, thats the one, price out the local renter market and then hope by stuffing 5/6 students into a 3 bed place you can make the numbers run.

Never mind the full 6/12 months these places are E M P T Y now.

On the subject of students, the first confirmation of "universitybubble" popping looks to be in the wings.

.........................................

http://www.yorkshiretoday.co.uk/ViewArticl...ticleID=1306932

Fees attacked as university applications fall

David Hogg

THE Government's education policy was condemned last night as figures showed a significant drop in the number of students seeking places in Yorkshire's top universities.

Officials at Leeds, Sheffield and Huddersfield universities all reported a fall in applications from students wishing to begin their course in the autumn, just as the Government plans to bring in tuition fees of up to £3,000 per place.

http://politics.guardian.co.uk/publicservi...1682298,00.html

Applications to university will fall as fees rise, minister admits

Matthew Taylor, education correspondent

Monday January 9, 2006

The Guardian

University applications are likely to fall for the first time in eight years after the introduction of increased tuition fees, the government admitted last night.

Speaking ahead of next week's deadline for applications, the higher education minister, Bill Rammell, estimated that the number applying to start university in the autumn would be down by about 2%.

Ministers have repeatedly argued that the £3,000 fee would not put students off and yesterday Mr Rammell insisted a 2% fall represented a "strong performance", given the surge in applications last year.

I never went to Uni (because I played truant a LOT!) IMHO Uni was never meant for 50% of the population. It's for the top 5% - 10% of the country and the country should support those people while they study.

This UNIbubble is long overdue.

I will happily support (through my taxes) anyone who wants to take a maths/science/physics/etc etc etc..degrees.

If you want to 'study' surfing or meedja....do it on your own time and money. Not mine.

Uni's are centres of advanced learning. Most of the country (myself included) are not worth the cost of 'advanced learning' in this sense.

We just undermine those people who have worked hard to get their degree by introducing the Mickey Mouse degree.

and offer false hope to those that attain the Mickey Mouse degree.....do you want fries with that order?

Edited by slater14

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Rental agencies (in general) only have themselves to blame for this interesting turnaround. I recall back in the heavy property inflation days consulting a west country rental agent about a possible lease on a house in Somerset. The fees charged were just outrageous, and resulted in me walking smartly out of the office:

1. Agent fee for "setting up" contract: £120

2. Drawing up contract (available on the 'net for nothing): £75

3. Reference checks: £85

4. Check in (ie: opening front door of house): £50

5. Inventory (ie: making a 3 minute list of contents): £75

6. Miscellaneous expenses (ie: money for old rope) £30

7: Deposit required (no formal declaration of where and who's account benefited): £1300

Against all this, the agent claimed to represent NOT me, but the landlord. But of course if an agent charges ANY tenant such fees, implied in such fees is a DUTY OF CARE to the tenant. In other words, whether or not an agent declares whose side he is on, any expense charged to the tenant that has within it a fee for "service" (which many of the above ARE), is an admittance of acting ON BEHALF of the tenant.

Advice: The world is awash with Letting Agents cashing in on the rental boom. Firmly establish with your agent that any fees he charges to you implies he owes you a duty of care, since the fees establish a client relationship. Do not let agents get away with unreasonable fees. The example in this thread is just an understandable reaction to the turn-table market, and a good thing too.

VP

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slater14,

I think we have gone beyond the pont of no return on that front too - I don't think most of the establishments can financially function without being bodyshops any more with the headcount funding that goes with it.

I'm even having doubts about the merits of the whole system - the world is moving so fast and the skillsets required changing so quickly that the courses have no chance of keeping up and the debt incurred in completing a course is just wasted time/money. It's funny I went through the whole system, sponsorship, the lot. Now if a couple of one hour aptitude tests run by companies can weed out the people that are most likely suitable for the job then the rest of it can be learnt on the job. I took a year out, did the job and then went to university and thought what the hell is the point of doing all this. Of course it would need a total mindset change within companies and a total reversion to old apprenticeship system (one that covers all skill levels), which in itself is probably far too tall an order to expect.

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Hi homeless,

Well, not quite.

I rent commercial space for another interest I have. The landlord of this space and I are on first name terms and he inspect HIS property on a regular basis.....and I make him a cup of tea and treat him with the respect he deserves for OWNING the space I RENT from him....because I WANT the SPACE he has to rent NOT beacause I am FORCED to rent that space.

I do not consider it 'snooping' if he wants to check on HIS property and by the same rule, I inform him of problems I have which he can then remedy..

..what you want is ownership. No snooping. No landlord (just the mortage company) but you cant afford to pay 25 years 'up front' to own that property.

You see, I'm not totally 'property' I go where the money is and dont get obsessed about who owns what as long as I'm making my butty.

My advice - dont fret who owns what. Pay what you need to pay and make your end count.

...so there you go. Slater is both a landlord AND a renter.

I agree it is entirely reasonable to establish a good working relationship with your landlord. And when they are reasonable and you are, it makes things better all round. However, this sentence is not quite right:

..what you want is ownership. No snooping. No landlord (just the mortage company) but you cant afford to pay 25 years 'up front' to own that property.

In fact, legally, the key word is "possession", not "ownership". If a landlord has a mortgage he is loosely in "ownership" but technically in possession. The ownership resides in the building society or bank. Therefore a mortgaged property is theoretically not owned by either the landlord or tenant. Both "own" the POSSESSION of the property provided they service their agreements. By implication this does not give the landlord any superior position over the tenant. They are both using the available system to their mutual advantage.

I say this not to be pedantic but to counter the ridiulous notion (especially in the UK) that somehow a landlord is socially more desirable or more "valid" than the tenant. I see you have conceded this in your post....thank you.

VP

Edited by VacantPossession

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My letting agent charges no fees at all for tenants except for a £30 credit reference check if you employer reference doesn't come up to scratch. They're a local firm without flash offices yet they're the only agency in the area which seems to have a stream of customers (and this is prime 2012 Olympics territory!)

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I've negotiated leases for longer than 18 months without any rent increases. I also negotiated a landlord installing a dishwasher and a new toilet.

What?!? You didn't set a term that forces them to come round to clean it, in person!

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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% +
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