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to ask for a decrease in rent?

(27 Posts)
MamaGeekChic Sun 02-Oct-11 17:20:13

We have lived here for 12 months and contract expires on 31st dec. Letting agent is coming round tomorrow to do inspection and discuss renewal. Given tht we have proven that we are good tenants, pay on time, look after property etc would it be unreasonable in today's market to request a marginal decrease in rent to incentivise us to sign another 12month contract?

Thanks

whackamole Sun 02-Oct-11 17:23:03

It wouldn't be unreasonable to ask, but I think you'd be bloody lucky to get it.

fuckityfuckfuckfuck Sun 02-Oct-11 17:23:12

If there are problems in the property, then by all means ask. But I'd not rate your chances tbh. It's usual for rent to increase on renewal, not decrease. Would you actually leave if they didn't reduce it?

callmemrs Sun 02-Oct-11 17:24:28

Worth a shot but I doubt you'll get it. It would cost you a lot to move, put down a new deposit etc so your landlord will know that s/he can no doubt keep the rent as it is

Andrewofgg Sun 02-Oct-11 17:24:46

Like so many threads the answer is YANBU but YANBBU where the last two letters of the second acronym mean bloody unrealistic!

ChildofIsis Sun 02-Oct-11 17:25:49

Hi Mama, I run a property company and have reduced the rents on all this years renewed contracts.
Maybe by only a bit, but I want my tenants to stay.
Mind you I have asked them to sign up for a further 12 months.

It costs a landlord quite a bit to change tenants, not least in lost revenue if the property lays empty.

I suggest you negotiate with the agent.

worldgonemad72 Sun 02-Oct-11 17:27:57

Not really sure why they would decrease your rent, i doubt theyve had a reduction on their mortgage, and they've probably lost out on the house value as well considering how things are at the moment. By all means ask but id be really surprised if they said yes.

MarginallyNarkyPuffin Sun 02-Oct-11 17:29:40

I wouldn't you're not dealing with the landlord you're dealing with a letting agent. The letting agent might be quite pleased if you leave - they'll get the business and another admin fee.

MamaGeekChic Sun 02-Oct-11 17:36:37

Marginally- I suspected that might be the case sad I had a look around and I feel that what we're paying is now a bit above market rate for the area, also we really need an enclosed garden before next summer and while the landlord has said we can we would need to pay for it ourselves so I'm wondering if we'd be better off just finding somewhere else. We are trying to save to buy (preferably this house and we know the landlord will look to sell in the coming years) so we are trying everything to cut expenditure, and we would be willing to sign for a longer term that their standard 6mnths. Mortgage doesn't apply as we know the property is owned outright. I guess the majority are right though, it probably is wishful thinking...

valiumredhead Sun 02-Oct-11 17:40:32

It's worth a go!

breatheslowly Sun 02-Oct-11 17:40:52

What is the rental market like around you?

fiorentina Sun 02-Oct-11 17:41:15

Definitely ask, I've always had an attitude that if you don't ask, you don't get, and there is no harm in doing so but we're recently re-let a property and the lettings agent recommended rents had gone up in a year so we put the price up and let it promptly.

RitaMorgan Sun 02-Oct-11 17:45:28

Worth asking. Having the property empty for a month and finding new tenants (who could be more trouble that you've been) might cost them more than reducing your rent for a year.

aquashiv Sun 02-Oct-11 17:47:32

Nothing ventured nothing gained. Personally rents round here have gone up due to a shortage of houses available to buy. As a landlord I would rather a tenant would ask me the question before they looked elsewhere.

bananamam Sun 02-Oct-11 17:49:22

We reduced our tenants rent. After they had agreed to an increase(they were paying well below Market value as they fixed up the flat after the previous tenants left it in a bad state) so we did them a favour by reducing the rent hugely for a year. We then agreed a new rate which was still £100 a month below Market value. The day the rent was due they called to say could we reduce it by £50!!!

This was very frustrating, but they are excellent tenants, friends of friends and we agreed with the proviso that we review in 6 months.

Def worth a go!!!

Ps we are not property moguls nor are we in it for profit. It is DPs old flat that we are hoping to sell

Tee2072 Sun 02-Oct-11 17:52:03

I did it.

My lease ended in July and not only did I get my landlord to reduce it (only £50 a month, but every little bit helps) but convinced him to let me go month to month so I could find a house to rent instead of our flat. I agreed to give him 30 days notice to vacate.

I'm moving into a house in 2 weeks.

The worst thing that can happen is they say no. So go ahead and ask.

BTW the flat is being re-leased at the rent I got him to lower it to. So I was right to ask.

MarginallyNarkyPuffin Sun 02-Oct-11 17:52:41

It's worth asking, but ask the owner not the agent. They can only say no.

LydiaWickham Sun 02-Oct-11 17:58:12

Ask - what's the worst that happens? they say no.

EricNorthmansMistress Sun 02-Oct-11 18:04:30

It's worth asking. I've been told they want to increase by £15 pcm when I renew next month which I felt was a lucky escape! I was expecting 5% at least. I think I may ask to sign a 2 year contract though to insure against another rise next year smile It hadn't occurred to me to ask for a reduction/keep it the same, I just feel too insecure and lucky to have such an amazing house. It's crap being a renter sometimes sad

LydiaWickham Sun 02-Oct-11 18:07:02

BTW - it might be worth asking, because even if they say no, the landlord would then realise you think it's over priced and while you might stay if the rent stays the same, you certainly won't accept a rent increase.

MamaGeekChic Sun 02-Oct-11 18:13:30

I think I might chance it.... I'm only going to ask for £25, just hope they aren't planning on putting an increase on the table!

spiderpig8 Sun 02-Oct-11 18:20:52

As a landlord I'd think you had a cheek, and tell you where you could stick that idea .

slavetofilofax Sun 02-Oct-11 18:21:39

If you're going through an agent, it won't do any harm to ask.

I wouldn't ask a LL personally though.

EllaDee Sun 02-Oct-11 18:21:55

Worth asking - but whoever said the lettings agent will want you to leave as a new tenant would bring in more admin fees may be wrong - don't your lettings agents charge you to renew the contract? Ours charge more when the rent changes (because they are greedy, money-grabbing bastards who knew they have us over a barrel). Just a warning. sad

mumeeee Sun 02-Oct-11 18:26:52

I would ask. DD1 and her DH did that and they did get a slight decrease.

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