AIBU to ask for a rent reduction?

[LouBlue1507]

Hi everyone! Just looking for opinions really, especially from any LLs!

After going over our finances and cutting back on everything, our bills are still more than our income

We get on well with our LL, have always paid the rent in full and on time and he has always commented on how well we're looking after he place when he comes. We've been here for 2 years now.

WIBU to ask the LL for a rent reduction if I explain to him that we're struggling and don't want to have to move?

I wouldn't ask, Lou, but can I point you in the direction of our friendly frugaleers threads on the Credit Crunch forum on here, if you want advice and support on how to cut back? Lots of us are getting by on low incomes and also getting a buzz out of frugal living, meal planning and No Spend Days (NSDs), so we would be happy to try to help.

I think you're going to have to find a long term solution to your money issues. It sounds like you can't afford to live there anymore. I wouldn't ask for a reduction but If you have a second room I would ask if you would be allowed to sublet the room to increase your income. I would also be looking at other ways to increase your income as well.

I think you need a smaller house if you can't afford this one.

I think you would be very unreasonable - sorry.
Look at benefits you may be able to claim, cut down your phone/internet packages.
In fact some places have very good deals on right now I have landline and internet with EE for 18 pounds per month for 12 months (It was a leaflet posted through my door but perhaps its available online too?)
change gas/electric providers as suggested.
Food shopping can normally be saved on. Use first offer deals every month - just set up a new email address. Couponing can be good too if you've got a printer and can go instore.

Moving house is very expensive. It will take about a year to see the benefit in the lower rent costs, in my experience. A month's rent upfront plus bond (sometimes 6-8 weeks' rent) plus agency fees plus postal redirection plus changing and installing broadband and tv plus removal van plus possible costs of new blinds/curtains/light fittings/furniture/handyman/paint and wallpaper.

It's definitely worth seeing if you can cut back first.

Flipping heck - of course you can ask. I'm not a LL, but have rented from many and frankly it's worth asking. It really does depend on how well you get on with them and choosing your moment, as with anything. From what I gather most LLs prefer regular-paying, look after their property tenants than anything else. Of course they might say no, and give valid reasons. But if you think they might be amenable do ask. Bloody medieval a lot of the comments here - land barons with serfs willingly going along - jeez we've always had land barons but it's very recent that we serfs have gone back to such forelock-tugging.

I reduced the rent for a long term tenant in the past. It was cheaper to take the £25 a month hit than to have the tenant move out to somewhere cheaper then have a void period before getting anyone else. The tenant was a known quantity - had always paid the rent on time, flagged up anything that needed doing and looked after the place. Ask your LL OP.

Would be a no from me. My tenants already pay less than market value because we didn't raise the rent over the years. Taking less would make it financially unviable for me.

How much would you ask to reduce the monthly amount by?

First up, you have flagged potential problems and as a LL I would appreciate your honesty and the fact you look after the property - two massive brownie points. But this is a financial transaction not a friendship. It's a ballache finding new tenants but if I thought you were asking for a permanent reduction and not a temporary reduction, over a term we have both agreed to, then I am afraid I would have to ask you to reconsider.

Will a reduction for a finite period (a few months?) really make a difference or would you be back to square one then? If you can say that we have a tough period of x months due to a, b, c then a reasonable landlord might consider it. If it looks like you are struggling with no end in sight then it's not really going to help either of you - you'd be better off moving to somewhere cheaper now.

What will change in 3/6 months? Costs of living are going up all the time-will you be able to earn more money in a few months?

I am a landlord. Our tenants recently left and the associated costs of recruiting new tenants, together with e void period meant that when they gave notice, we offered to renegotiate the rent rather than lose them. They declined due to the rent charge not being their reason for moving. It costs about 1.5 months rent for us to recruit and settle in new tenants. In my view I would definitely consider a rent reduction. I really care about our tenants having a happy home and you sound like very good tenants. How much are you paying? Is it competitive? How much % reduction do you need?

Prior landlord here and it depends... if you're already paying on or below current rate than I. However say 4 weeks void plus costs at rent of £1000 per month would clear around £1200 - so if at £1000 you offered £70 less a month over a year it would be reasonable. However if you're paying £1000 and actually they could get £1200 than not reasonable. Saying that- people, being people react emotionally- so really depends on your landlord

WIBU to ask the LL for a rent reduction if I explain to him that we're struggling and don't want to have to move?

Problem is from what you have said this isn't going to be a short term thing. YABU to expect a LL to reduce it for the forseable future.