0q0 Posted July 18, 2008 Share Posted July 18, 2008 (edited) I have. They ignore my offers, they don't like me because I put offers in 10% below the Ask, occasionally 14% or 15%. I'm far from the ideal tenant applicant, who listens when they say "This is cheap for this area" and who pays what they ask. They don't like that I do my research and note same price rentals just a street away. They'd prefer me to accept what they say and pay what they ask. The problem is, with so many other applicants swallowing the lines from agents and not doing any research to haggle on price, we're seeing an uptrend or bounce in rents again, meaning my hopes of an affordable rental are becoming a pipe dream. Yeeeeees, not all letting agents behave so badly, but the ones I meet do! edit OK before you say it, it's me who's behaving a bit badly by putting in "low " offers, but surging rents will fuel more BTL and that'll reinflate property prices, that'll price out more renters like me incl key workers and it'll mean FTBers are shafted for even longer. So it's only in the interest of retailers that property prices stay high as that fuels "equity" release credit binges. Edited July 18, 2008 by The Last Bear Quote Link to comment Share on other sites More sharing options...
renterbob Posted July 19, 2008 Share Posted July 19, 2008 I have. They ignore my offers, they don't like me because I put offers in 10% below the Ask, occasionally 14% or 15%. I'm far from the ideal tenant applicant, who listens when they say "This is cheap for this area" and who pays what they ask. They don't like that I do my research and note same price rentals just a street away. They'd prefer me to accept what they say and pay what they ask. The problem is, with so many other applicants swallowing the lines from agents and not doing any research to haggle on price, we're seeing an uptrend or bounce in rents again, meaning my hopes of an affordable rental are becoming a pipe dream. Yeeeeees, not all letting agents behave so badly, but the ones I meet do! edit OK before you say it, it's me who's behaving a bit badly by putting in "low " offers, but surging rents will fuel more BTL and that'll reinflate property prices, that'll price out more renters like me incl key workers and it'll mean FTBers are shafted for even longer. So it's only in the interest of retailers that property prices stay high as that fuels "equity" release credit binges. I see the opposite, the landlords who keep their rents high have many voids, only the landlords reducing rents by 12%+ are letting. Rents are going down so fast it is hard to keep up with them all Afterall, it is a renters market now, with many, many desperate landlords with dozens of empty properties. Quote Link to comment Share on other sites More sharing options...
0q0 Posted July 19, 2008 Author Share Posted July 19, 2008 I see the opposite, the landlords who keep their rents high have many voids, only the landlords reducing rents by 12%+ are letting.Rents are going down so fast it is hard to keep up with them all Afterall, it is a renters market now, with many, many desperate landlords with dozens of empty properties. Well, it's not a renters' market in my parts of outer London. Offers I put in get turned down always, and usually I see "Let Agreed" on Rightmove a few days later as someone else takes the place. I think there are clues rents have come down in SOME areas though, but then those places are snapped up. It might be a renters' market for the more classy flats though, that wouldn't surprise me, but in the lower end and max value - no, it's still a scrum. But having said that, the LLs who over-price ... still voids months after my offer was rejected or ignored. Quote Link to comment Share on other sites More sharing options...
Matt Henson Posted July 20, 2008 Share Posted July 20, 2008 Well, it's not a renters' market in my parts of outer London. Offers I put in get turned down always, and usually I see "Let Agreed" on Rightmove a few days later as someone else takes the place.I think there are clues rents have come down in SOME areas though, but then those places are snapped up. It might be a renters' market for the more classy flats though, that wouldn't surprise me, but in the lower end and max value - no, it's still a scrum. But having said that, the LLs who over-price ... still voids months after my offer was rejected or ignored. I started this as a thread in another post but it interesting to see the sellers who are resorting to renting way over price there rental, they must thing renters are suckers. We are moving and we saw a number of places in the £2000 pm bracket that did not even justfiy £1300, strangely enough they are not going and now the asking price is creaping down. One place was the most beautiful barn conversion with 5 beds and 3500 squ ft @ £2400 but it had comunal parking, no garage, small garden and no storage for "outdoor" stuff.... (they are trying to sell it for £750,000) but just as compromised houses don't sell for top whack, neither do compromised lets. That place will go for £1950 in the end despite being huge http://www.rightmove.co.uk/viewdetails-183...1&tr_t=rent This place started as £2,200, is now £1,800 and is worth about £1350 http://www.lestersonline.co.uk/PropertyDet...spx?ID=10000133 It's tiny, the owner is in the RAF and uis being stationed in Scotland, they bought 2 years ago and clearly they think rents should cover mortgages rather than being at market rates. And this one really cracks me up at £2000 pm http://www.rightmove.co.uk/viewdetails-219...1&tr_t=rent It's worth £950 pm if they are lucky My advise to anybody is watch out for desparate seller resorting to letting and nogociate like hell because they are dilusional Quote Link to comment Share on other sites More sharing options...
DemolitionRed Posted July 20, 2008 Share Posted July 20, 2008 I have. They ignore my offers, they don't like me because I put offers in 10% below the Ask, occasionally 14% or 15%. I'm far from the ideal tenant applicant, who listens when they say "This is cheap for this area" and who pays what they ask. They don't like that I do my research and note same price rentals just a street away. They'd prefer me to accept what they say and pay what they ask. The problem is, with so many other applicants swallowing the lines from agents and not doing any research to haggle on price, we're seeing an uptrend or bounce in rents again, meaning my hopes of an affordable rental are becoming a pipe dream. Yeeeeees, not all letting agents behave so badly, but the ones I meet do! edit OK before you say it, it's me who's behaving a bit badly by putting in "low " offers, but surging rents will fuel more BTL and that'll reinflate property prices, that'll price out more renters like me incl key workers and it'll mean FTBers are shafted for even longer. So it's only in the interest of retailers that property prices stay high as that fuels "equity" release credit binges. Agents tend to have a good idea about how much the LL will be prepared to drop and if the offer is way below expectations, then the agent will probably not even contact the LL with the offer. Houses that are fresh on the market are much harder to put a sensible offer on, than property that has been sitting around for a while. I can remember being embarrassed by stupidly high rentals and stubborn LL’s that refused point blank to drop to a reasonable level. Quote Link to comment Share on other sites More sharing options...
renterbob Posted July 20, 2008 Share Posted July 20, 2008 Agents tend to have a good idea about how much the LL will be prepared to drop and if the offer is way below expectations, then the agent will probably not even contact the LL with the offer.Houses that are fresh on the market are much harder to put a sensible offer on, than property that has been sitting around for a while. I can remember being embarrassed by stupidly high rentals and stubborn LL’s that refused point blank to drop to a reasonable level. With your clear vested interest in ramping up prces for buyers/ renters = more cash they charge, more cash you make your views are contradictory, at best. It is laughable how many estate agents are now distancing themselves from landlords who they've being doing business with for years, scamming renters and buying alike. I see them as one and the same. Rats leaving the sinking ship comes to mind. Quote Link to comment Share on other sites More sharing options...
DemolitionRed Posted July 21, 2008 Share Posted July 21, 2008 With your clear vested interest in ramping up prces for buyers/ renters = more cash they charge, more cash you make your views are contradictory, at best.It is laughable how many estate agents are now distancing themselves from landlords who they've being doing business with for years, scamming renters and buying alike. I see them as one and the same. Rats leaving the sinking ship comes to mind. I would just like to add that I do not work in a rental market and I do not work in a selling market. In other words I am not a letting agent and I am not an estate agent. I work within property but it is neither of the above. I am a landlord but I do that privately and my present tenants are on housing benefit. I would never let through an agent and I would never sell through an agent but then I have the knowledge and understanding to be able to do it on my own. So all your insults and assumptions are a little meaningless in my case Quote Link to comment Share on other sites More sharing options...
DrGUID Posted July 21, 2008 Share Posted July 21, 2008 It depends on location and what type of property you're after. I let out my own small flat after 3 days. Letting agents don't have to put very small properties in the windows round here as they will have a big long list of people waiting to rent them... Quote Link to comment Share on other sites More sharing options...
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