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Likely Achievable Discount On Rental Prices In N London/herts?

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Say on £750pcm ask, any anecdotes for these areas on what can come off. You can PM me if you prefer.

thank you

Edited by The Last Bear

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bump

because not one response on this or the renting forum!

Is it a conspiracy of silence - are you all really lettings agents and landlords keeping quiet about discounts?!

That'd be bizarre but make sense actually - the membership of HPC in reality simply consisting of landlords who merely wanted to get prices down so they could buy more properties to let out!!

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All right, calm down dear.

I moved into my place 12 months ago. I'm trying, without success, to remember what the original asking rent was but I think I offered about 10% off to the agent which was accepted. A day later I phoned and asked what discount I would get if I signed up for a two year lease; answer - about another 5% off.

This is from memory and might contradict the figures I've quoted on this forum last year, so don't jump on me if it does. The point is, as with all negotiations, chuck in more variables.

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Up until 3 years ago I was in a very nice 2 bed flat in Finchley - 10 mins walk to the tube for 800/month.

Prices are more or less the same in East Herts (overland into Liverpool Street) at the mo.

For 750 you'll get a really nice one bedder, an ok 2 bedder. Move to East Herts (Bishops Stortford) & you'll get a small 2 bed house / maisonette for £800

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All right, calm down dear.

I moved into my place 12 months ago. I'm trying, without success, to remember what the original asking rent was but I think I offered about 10% off to the agent which was accepted. A day later I phoned and asked what discount I would get if I signed up for a two year lease; answer - about another 5% off.

This is from memory and might contradict the figures I've quoted on this forum last year, so don't jump on me if it does. The point is, as with all negotiations, chuck in more variables.

Thanks, and I do like being called dear, even though I am not a gay man! (although I might as well be for the interest I get from women)

Up until 3 years ago I was in a very nice 2 bed flat in Finchley - 10 mins walk to the tube for 800/month.

Prices are more or less the same in East Herts (overland into Liverpool Street) at the mo.

For 750 you'll get a really nice one bedder, an ok 2 bedder. Move to East Herts (Bishops Stortford) & you'll get a small 2 bed house / maisonette for £800

Thanks, will look into it.

Just make an offer - theres no harm in starting at £600. Negotiate till you break em.

What area is it??

As Gary says above, but am flexible.

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Look for a long lease. Landlords are crapping themselves about the prospect of voids at the moment and it GC1 is anything to go by we've got a couple of years before the bottom. At least.

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Look for a long lease. Landlords are crapping themselves about the prospect of voids at the moment and it GC1 is anything to go by we've got a couple of years before the bottom. At least.

I'll try to, and I promise I won't jump on anyone's back :lol:

Actually I've just changed to whitening toothpaste, so should be :D

Edited by The Last Bear

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My experience as a landlord back in the early nineties was that price is very sensitive. Advertise at £10 a month above the going rate and the response is zero. Drop a bit below and you fight off prospective tenants with a broom handle.

I would say therefore that big reductions are probably not achievable BUT if a property has been on the market for more than a month it is probably overpriced and there may be a deal to be had.

Hope that helps.

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My experience as a landlord back in the early nineties was that price is very sensitive. Advertise at £10 a month above the going rate and the response is zero. Drop a bit below and you fight off prospective tenants with a broom handle.

I would say therefore that big reductions are probably not achievable BUT if a property has been on the market for more than a month it is probably overpriced and there may be a deal to be had.

Hope that helps.

thanks, yeah there's a couple on for about 10% over what I can afford and they've been on for 3-4 weeks, so I may see if the landlord wants to talk business there or instead will he/she hang on another month waitingfor someone to pay full whack and lose a large chunk of money that they could have had from me, yet for some silly reason that's what LLs do...

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I live outside Maidenhead and moved to a new house 4 months ago. Landlords were asking 3500 and we offered 2500. Settled for 2700 with a 2 year lease (plus the landlords pay 800 pounds a month for a part-time gardener). At the upper end of the market, house prices are so far out of whack with rents that landlords can have pretty unreasonable expectations. Our house had been sitting on the market for several months at a higher asking price with no takers. The owners can't sell the place because it's tied up in a family trust. Our rent, less the gardener's wages, probably covers about a quarter of what they would be earning if they just sold the place and put the money in a bank account.

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I live outside Maidenhead and moved to a new house 4 months ago. Landlords were asking 3500 and we offered 2500. Settled for 2700 with a 2 year lease (plus the landlords pay 800 pounds a month for a part-time gardener). At the upper end of the market, house prices are so far out of whack with rents that landlords can have pretty unreasonable expectations. Our house had been sitting on the market for several months at a higher asking price with no takers. The owners can't sell the place because it's tied up in a family trust. Our rent, less the gardener's wages, probably covers about a quarter of what they would be earning if they just sold the place and put the money in a bank account.

From what I can read between the lines of an agent for place I just enquired about - it's been repo'd. Seems LLs hung around too long waiting for The Right Rent and er in the end The Repo Man said "Time's up, let's have the keys."

A lesson there to all unrealistic LLs on a BTL mortgage.

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  • 295 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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