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Haggle On The Rent


FrozenOut
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Going to be renting for at least 12 months depends how the market goes does anyone know any good agents or sites where i could get an half decent 12 month deal from around the south yorkshire area.

I'm in Sheffield so you shouldnt have an issue finding a ncie flat for 450 a month.. Or a 3 bed house for about 550.

Give me a PM and we'll discuss!

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  • 3 weeks later...
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Just secured a 2 bed top floor duplex apartment. Got the rent reduced from £700 - £560 pcm.

Scouted Rightmove for a month, and watched local online adverts. Recognised the nice accom with desperate Landlords.

Waited for rent to drop to circa £600, then made a £550 offer, he said £575, we settled on £560. His IO mortgage is £585!!!

"If you're not embarassed by the offer, then its not low enough!" That was a tip I picked up from here and have just used successfully.

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  • 1 month later...

When haggling/negotiating why not just try to offer as low a price as you like and seeing how it goes.

It's good practice and you are not really going to lose out (the LL is hardly giong to charge you more)

I find that it's easy to negotiate for things that i don't want - for practice before i negotiate for what i do want.

I am not a good poker player and need the dry-run to steady my nereves.

I'd also say that you should find out about who you are renting from esp. how long they have been in the game and how many properties they have and also info. on their problems e.g. dhss, voidage, damage done by students etc...

Paying by Direct debit is a good way to reduce costs - or if he is dodgy and insists on cash (in which case i would not rent from him) make out that the cash option is not what you want and insist on a discount. -

If you get a decent LL you can say that you are prepared to pay up front- with deposit - take care of the place - and should be able to negotiate a discount.

try to get a note from your previous LL as reference and also from your work.

LL's would prefer a no nonsense letter than anything else really - lower rent is better than a month's voidage cos he throws you out for being a spaz.

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We're having to leave the 3 bedroom house we have been renting for the last 12 months, because the landlord has put the house on the market. Our current rent is £600 per month and the house is on the market for 198k. This equates to a gross rental yield for the landlord of 3.6%, so no wonder he is selling.

In any case, we have been looking for a similar size property with a similar rent, but everything advertised around the £600 mark is much worse than our current place. We did find a house that we like advertised for £695 per month and coincidentally this house is also for sale and is on the market for 200k. I used our current rent and the fact that the houses are on the market for a similar price as a bargaining tool and initially offered £600 per month for the house. This was knocked back by the letting agent, because he told me there was no way the landlord would do £600, so I told him to offer the landlord £625 for a 12 month contract. The landlord rejected this, but said we could have it for £650 on a 12 month contract. I'm happy enough with that, because it was our first choice of house and a 6.5% discount off the advertised rent is a reasonable result. The gross rental yield on this house is still only 3.9%, so renting is at least 50% less than the cost of an interest only mortgage. I'm comfortable that I'm getting a much better deal than the landlord.

I was in a position to offer 6 or 12 months rent up front, but I felt that this probably wasn't worth it for the potential danger of losing the money if the landlord got into financial difficulty. It is a big gamble to take if you don't know the financial position of the landlord. I also thought that it would only get me another £25 maximum per month off the rent, so not worth the hassle.

I would say that it is always a good idea to haggle on the rent. You have nothing to lose, and the chances are that you will be able to obtain a discount of up to 10% without having to negociate too hard.

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  • 1 month later...

When haggling/negotiating why not just try to offer as low a price as you like and seeing how it goes.

Definately! We did this last March when we took up a property in Kingston, my quick thinking wife offered 10% less on the monthly rent and the landlady agreed - no haggling.

Now one year on, she 'apologised' for asking for an increase for the next years rent, but still much less than the original advertised price!

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I am new to this, but so far I have found little acceptance of below asking price. On two instances the LL was unwilling to go down at all - both remain on the market. I dont understand it at all - a 5% discount on £550 and I would sign for a year - In the couple of weeks since viewing, the guy has lost money on this decision!

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  • 3 months later...

I'm currently looking at properties to rent, as I'm having to move. I found a great one, but wanted to haggle a little on the rent as I felt it was a little bit more than I was wanting to pay. However when I spoke to the agent he said that I wasn't allowed to negotiate on the rent - it was at the price it was and that was that.

Is he allowed to say that? Surely he should take any offer to the landlord (who can say no, obviously)?

He never even gave me the chance to say that I'm looking for a long-term let of a minimum of 12 months, so would be a good tenant ...

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Looking at this from the other side of the fence (I have a modest BTL portfolio) I have to endorse the views expressed here.

The approach we use when a tenant gives notice is -

1) Discuss, with the letting agent, the current market against rent currently being charged to determine what rent we 'should' be getting. This becomes the initial asking price.

2) We hold this asking price while the tenant is still in the property.

3) Once the property is vacant (i.e. if we don't already have a new tenant lined up when the old one leaves) we reduce the asking price for the rent by £25 - £50 per month for each week the property is vacant (the amount depends on the 'history' of the particular property in question, and our initial asking price). We will consider serious offers at all times. This allows us to arrive very, very quickly at the 'true' market rental value. Tenants aren't stupid. They can assess the relative value of everything on the market in a given area at a given time far more effectively than we can.

4) As a result, when we have use the above, we have never have a property empty for more than 3 weeks.

But then we consider ourselves to be good landlords. We have been doing this for nearly a decade now.

Edited by JohnG
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  • 4 months later...

I didn't haggle on my rent this time because we had one saturday to look and made an offer at 5.00pm.

However, I have since looked at OurProperty.co.uk and note that the landlord bought the flat for approx £250k in January 2007.

We are paying £1,100 pcm so this equates to (drumroll please) a 5.3% yield. I am getting 6.05% on my Yorkshire BS e-ISA. Bear in mind that he has had to pay for new carpets on us moving in as well.

Somehow I can't see him making any medium-term capital gains in South East London on this property.

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There seem to be goups of flats (all new builds in my experience) where the LL's and EA's have joined together in a cartel to keep up the rents.

As i've said before my current block of flats is largely owned by overseas investors. The local EA's rent out the flats at very similar rents. I tried to rent/haggle on a few before I got this one. I just kept trying until I found a LL who would do this.

The foreign LL's here are in it for the long term investments (or so they say...) so they don't care about having a tenant there all year.

The EA's mainly rent them to companies and as holiday lets at well above the market value. Most of the flats here are empty.

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  • 2 weeks later...

Unfortunately my experience in the Wokingham area seems to support what Moneymaid has said.

We are currently looking at rental properties, with a view to a bigger place. My experience was exactly the same the last time I looked, about 4 years ago.

The decent ones in decent areas get snapped up pretty fast, so every time I have tried to haggle on the rent on a place that I have liked, by the time the EA has contacted the LL and got back to me, a tenant has been found who is willing to pay the full rent and I have lost out.

Or, very annoyingly, at the viewing, the EA appears somewhat disinterested and when you tell him you want to make an offer on the rent, he tells you that the previous viewers were extremely interested and were on their way to the office to pay the deposit. I have tried calling the EA office to find out if it was a lie, and am usually told that the property has been let.

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  • 2 weeks later...

Yes, me again.

This is becoming VERY depressing.

We are looking more seriously for a bigger house to move to now and for the past three or four weeks I have been been scouring Rightmove for properties to let.

Each time I find one that looks ok, is in a reasonable area and is asking a reasonable rent (3-bed for under £900 pcm) I ring up the agent to ask for a viewing, most of the time to be told that it has already been let.

The only landlord who was willing to negotiate on rent was asking £1150 pcm for an OK 3-bed, then was unwilling to drop below £1K, which we can't afford.

It's becoming a problem to find a nice place to rent full stop. We can forget even thinking about haggling on houses asking less than £900pm!

We are currently in a small 2-bed house in a lovely quiet area paying £750pm.

Does anyone else have the same experience?

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  • 3 weeks later...
I didn't haggle on my rent this time because we had one saturday to look and made an offer at 5.00pm.

However, I have since looked at OurProperty.co.uk and note that the landlord bought the flat for approx £250k in January 2007.

We are paying £1,100 pcm so this equates to (drumroll please) a 5.3% yield. I am getting 6.05% on my Yorkshire BS e-ISA. Bear in mind that he has had to pay for new carpets on us moving in as well.

Somehow I can't see him making any medium-term capital gains in South East London on this property.

Yes, but when he does it will be on his AND THE BANKS MONEY, you are earning 6.05 on your money alone. Imagine if you took out an 0% interest CC and put it in your savings account for a year.

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Yes, but when he does it will be on his AND THE BANKS MONEY, you are earning 6.05 on your money alone. Imagine if you took out an 0% interest CC and put it in your savings account for a year.

Not sure being leveraged makes any difference when you look at rent/dividends.

It cost 250K which he either had to borrow form the bank at the baserate + a bit or spend his own cash where it could have been earning interest in the bank at he base rate - a bit

Everything I am looking at in Wales has much lower yeilds. Two places are on right now for sale and for rent at

479k for 1500 3.8 % or 375 for 1100 3.5%. Admitedly these are asking prices but that applys for the rents as well.

I rent in Ireland right now and ratio is about 2.75% and we are paying over ther odds on the rent as i was in a rush and it already seemed so cheap. Even with returns that low people were snapping up BTLs only 6 months ago and telling us rent was dead money.

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  • 4 weeks later...

We've always haggled & subsequently never paid full price, we always bring up the extortionate upfront costs (in a PC way of course) plus that we're wanting to sign a years contract etc etc.

Only fools pay the full price

Currently pay £750 for a detached (with integral garage) 3 bed house, just signed up for a 3rd year with no change in rental cost

Edited by Live_in_hope
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Live in hope what would yo do if all landlords you haggled with stood firm or if you had no time to haggle you either agree a price today or you homeless tomorrow? would you be a fool then?

Chrysalis I make sure that I have plenty of time to go through this process, so I don't end up looking like a fool as at the end of the day its my money.

Don't let EAs bully you !

Edited by Live_in_hope
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  • 2 weeks later...
We've always haggled & subsequently never paid full price, we always bring up the extortionate upfront costs (in a PC way of course) plus that we're wanting to sign a years contract etc etc.

Only fools pay the full price

Currently pay £750 for a detached (with integral garage) 3 bed house, just signed up for a 3rd year with no change in rental cost

Well good for you.

Let me guess. You don't live in Wokingham. Or in or any other area with a high demand for rental properties.

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Well good for you.

Let me guess. You don't live in Wokingham. Or in or any other area with a high demand for rental properties.

I work in wokingham, though don't live their why would I put myself in an overpopulated rat hole where I can't negotiate ?

I commute, i.e. I get up early in the morning & get home late

Edited by Live_in_hope
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I work in wokingham, though don't live their why would I put myself in an overpopulated rat hole where I can't negotiate ?

I commute, i.e. I get up early in the morning & get home late

Unfortunately we can't all do this. Do you have children? If so you probably don't see much of them. If you do have kids, are the schools in your area as good as the ones in Wokingham? (some of the best state schools in the country). Also, if you commute for such a long distance, surely your transport costs must be quite high. If you added your monthly transport costs to your rent, is it really worth the time and effort?

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  • 3 weeks later...
Guest Ryanman

It is always better to ask for a lower price than what they ask. Usually landlords try to get as more money as possible out of their property, and generally it is a value which is higher than what the real price is.

This counts even when you want to buy a property. Indeed, property owners usually ask 5-15% more than what the market price is, because most of them make an agreement with their real estate agent that if they are gonna sell the house for that price, both the owner and the agent will receive benefits.

So, I suggest you push on lowering the price since the beginning, and you should not be afraid. You will definitely be the gainer.

Edited by Ryanman
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