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What Sort Of Offers Is The Landlord Looking At?

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Tatty flat, presented poorly, uncleaned kitchen equipment (hob old and rusting etc), old sink, smell of "bedsit", poor paint, no tenants currently there, lots of post on the floor when we entered (something like 2 weeks' worth or more).

About 10 to 12% above the price of the cheapest in the area, although not in a bad position.

Agent clearly and abruptly I should add indicated no offers would be entertained.

Doesn't sound like a renters' market, Renterbob. Not yet anyway. Although I'll concede there was lots of post on the floor and probably no queues of viewers.

This is pretty much the cheaper end of 2-bedders, but the cheaper is not as cheap as it should be for that.

However, I dare say some poor s0d will take it and not argue the price.

Mr Agent, it won't be me, if you're reading this! :P

Edited by The Last Bear

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It would be worth submitting an offer in writing, and then see if they take you up on it after a month of void.

A lot of places seem to adding to their rent to cover their voids, which is clearly an economically unviable way of doing things. Soon enough the BTL scene is going to implode on all the mugs who went into it for capital appreciation rather than yield, i.e. anyone who bought BTL in the last three or four years.

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It would be worth submitting an offer in writing, and then see if they take you up on it after a month of void.

A lot of places seem to adding to their rent to cover their voids, which is clearly an economically unviable way of doing things. Soon enough the BTL scene is going to implode on all the mugs who went into it for capital appreciation rather than yield, i.e. anyone who bought BTL in the last three or four years.

Well, I've decided I don't want it now, but I'd agree with your advice if I did want it and had time to hang about.

I think it's a real shame someone might have to pay the Ask on that, if that happens (I'll check RM to see) I'm afraid it's going to be a worrying sign that in some areas there's so much demand that they'll even take that at the Ask.

For round there (nice-ish locale), it's the right price but poor inside. But for the whole area by comparison, it's 10 or so percent too high, especially given its condition.

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Well, I've decided I don't want it now, but I'd agree with your advice if I did want it and had time to hang about.

I think it's a real shame someone might have to pay the Ask on that, if that happens (I'll check RM to see) I'm afraid it's going to be a worrying sign that in some areas there's so much demand that they'll even take that at the Ask.

For round there (nice-ish locale), it's the right price but poor inside. But for the whole area by comparison, it's 10 or so percent too high, especially given its condition.

if it's poor inside before you have even started your tenancy, what does that say about the landlord? Clearly he/she does not want to spend money!

The letting agent is probably shaking his head with frustration but the bottom line is, he has to follow the LL's instructions and if the LL wont drop then he's stuck with trying to let it out at an over inflated rental and he knows that.

What the landlord can't see because he's being so bloody minded, is that a small percentage of something is better than a large percentage of nothing. If it sits void for a month then he would be losing possibly the same as if he let it to you at a reduced rent for a year. If it sits void for two months then he's really in trouble.

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Tatty flat, presented poorly, uncleaned kitchen equipment (hob old and rusting etc), old sink, smell of "bedsit", poor paint, no tenants currently there, lots of post on the floor when we entered (something like 2 weeks' worth or more).

About 10 to 12% above the price of the cheapest in the area, although not in a bad position.

Agent clearly and abruptly I should add indicated no offers would be entertained.

Doesn't sound like a renters' market, Renterbob. Not yet anyway. Although I'll concede there was lots of post on the floor and probably no queues of viewers.

This is pretty much the cheaper end of 2-bedders, but the cheaper is not as cheap as it should be for that.

However, I dare say some poor s0d will take it and not argue the price.

Mr Agent, it won't be me, if you're reading this! :P

Move on, you'll see it for auction within a 6 months when the rates go skyward......the unrealistic ones always do this.....

I really sympathise for your attempt thoghg, trying to find a place to live when these damned agents etc are hanging on for literally grim death is frustrating......I hope you get a place soon so you thank your lucky soul you didn't get that one......chin up...better luck next time the last bear.

There are many like yourself waiting.....the further north you are, the better it is.....but when the South goes it will be like an avalanche.

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if it's poor inside before you have even started your tenancy, what does that say about the landlord? Clearly he/she does not want to spend money!

The letting agent is probably shaking his head with frustration but the bottom line is, he has to follow the LL's instructions and if the LL wont drop then he's stuck with trying to let it out at an over inflated rental and he knows that.

What the landlord can't see because he's being so bloody minded, is that a small percentage of something is better than a large percentage of nothing. If it sits void for a month then he would be losing possibly the same as if he let it to you at a reduced rent for a year. If it sits void for two months then he's really in trouble.

D R, this agent is not "frustrated", this agent's attitude did not in any way say that, this agent is very close to the landlord, his attitude was clearly affronted at my offer. Additionally his fees - his staff on the phone say one thing, he says something else (nearly 50% more for fees when I asked him rather than his staff). His company logo looks like something done on a bit of home software and his attitude matches. I wouldn't rent from him. And what you say about the LL's attitude is exactly what I thought. However, I offered because I wanted to see what realistically they expected and also if I absolutely had to take something on the quick what they'd take.

Move on, you'll see it for auction within a 6 months when the rates go skyward......the unrealistic ones always do this.....

I really sympathise for your attempt thoghg, trying to find a place to live when these damned agents etc are hanging on for literally grim death is frustrating......I hope you get a place soon so you thank your lucky soul you didn't get that one......chin up...better luck next time the last bear.

There are many like yourself waiting.....the further north you are, the better it is.....but when the South goes it will be like an avalanche.

This particular flat is on and Let fairly often. I don't think tenants stay there too long. I've seen this on twice before over the past 18 months. I think the price has in fact stayed the same in that time.

The agent was very definite (and abrupt) about the no offers, among the most unpleasant agents I've ever met, gave the impression of take it or leave it from the get go.

The flat had about 20 items of post on the floor, dirt/mould from the last tenant's "lack of ventilation" and that certain smell that you get in bedsitters.

The other flat I viewed recently and put an offer in on (10% less than Ask), agent called me and said the LL won't take more than £25 off (-3%). At that price, it was no bargain at all, better interiors can be found for the same price and with an allocated parking space. However, they do go quickly or at least it seems that way.

That said, RM ads appear, then disappear and reappear, so it can be that things hang around longer than it seems before being Let.

The latter property I mention is still showing on RM as unlet, despite apparently there being someone back last week for a 2nd viewing.

The saga continues, living in hope of the renters' market soon... (no sarcasm meant).

Edited by The Last Bear

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Rather than ask hypothetical questions of landlords "would you take less than the asking price etc/ a low offer etc" I usually find its better to have an offer on the table and then let them decide.

The same goes for pets. Virtually all landlords will say I don't want a tenantt with a pet. When presented with an otherwise impeccable offer most will see issues of pets as virtually irrelevant if suitable indemnities are available.

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  • 399 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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