Is it normal to offer less rent than the house is advertised at?

[Preschoolermum]

Or not? The house is nice, and competitively priced. There are other interested parties. Is it normal to make an offer anyway? Do most people make offers? I thought that was the practice if buying but not renting, but maybe I am wrong.
Thank you for your views!

When renting I never once paid the advertised monthly rate, I always made a reasonable offer and it was always accepted. The last time I rented was 11 years ago though, so maybe times have changed!

I have negotiated rent down on a number of occasions, but in Prime Central and south west London - it may be different elsewhere

Probably depends where you are. Round here people are queueing out of the door for properties as soon as they become available (but that's because most housing has been converted into student accommodation and finding domestic housing that isn't right next door to a HMO is really difficult).

We did. When we were moving we spoke to the man who is now our landlord.
We said it was understandable that he wanted £1275 a month, but it was unaffordable for us. He asked, how long would you stay?
We said, were looking for long term.
He could have got the £1275 easily, but did accept the £1000 from us and hasn't put our rent up once. Hes an angel. Literally the best a landlord could be.

I own now but used to make offers when I was renting (because I mostly looked at rentals I couldn't afford) so if they said no I'd just think well it was out of budget anyway so no harm.

My first big saving was 11 years ago for a new build town house rental listed at £1100 the guy had about half a dozen unoccupied properties ready to rent and the financial crash had just happened I got him down to £850 for a 12 month lease. We left when they tried to hike the rent after the lease was up.

My second was the one after listed at £700 I got them down to £650 for a 12 month lease instead of 6months, again they tried to put it up to £700 after a year but we asked if it was "negotiable" they chickened out in case we left and left it at £650 for the full 3 years we were there till we bought in 2013. This was in Cheshire.

Ours was priced at 1325 (4 years ago) we offered 1200 - they agreed on 1250£

each year they said they were upping the rent - we refused - they let us stay with the same price until this year when they tried to go up to 1300 - and we counter offered £1275

It is always worth a try

I’d say yes, certainly in London, I’m a landlord and the agent always advises pricing it £50 to £75 higher than I’d be willing to accept as people make offers. Sometimes they do, sometimes I get the asking price. However even at the higher price it’s a fair rent for the area, I rented for years and feel strongly about being a good fair landlord.

@Preschoolermum

Depends on how much you like it, whether you can afford it, and the supply and demand in your area.

I would certainly give it a shot. I am a landlord and price low anyway to attract as much interest as possible so that I can get the 'right' tenants - ones that are well suited to the property and who seem likely to stay a long time.

I have done in the past and had my hand shaked straight away.
I also know others who pay less rent than the asking price.

Feel free to make an offer but lm guessing it’s unlikely to be accepted, unless is wildly overpriced. Especially if other parties are interested

I'm a LL and would consider it if:
You were a very desirable tenant (no pets, non smoking, great references)
You were looking long term
There was no other interest
You offered something extra (I have had tenants offer to put in new carpets, re-tile kitchen etc.)

In reality, I usually have enquiries in double figures within an hour of me listing a property and people offering over the amount to secure it. This includes first viewings where they bring cash deposit plus 1st month's rent in an envelope with them!

Really depends on the property - if you don't mind losing it, offer away

I'm a landlord, my tenants tried to knock me down by £50 so I met them in the middle at £25 pm less.
But if there were other interested parties I would have heard them out too. Obvs would have gone for who seemed the more suitable tenants over a £25 difference.

We've just let our our old house, and had people offering below the advertised rent, some £25, £50 less. We have a mortgage on it so need a minimum income to cover it plus the landlords insurance etc. It was in good condition, new oven installed, carpets cleaned etc.

We didn't budge and it's now let at the price we advertised. I think some are of the 'If you don't ask, you don't get' way of thinking.

No it is not normal, it is often the opposite people desperately in need offering more.
Can you re-advertise it.

Depends on supply and demand. My son's house was empty for about 5 weeks last year. The agent had recommended their lowest rent for a 2 bed which I thought was too high but we went along with it. Not surprisingly he accepted £200 less a month to get it let before Christmas. If people had been clammering for it within a week or two it would have been different.

why not? It is a business transaction, not a marriage proposal. If the landlord doesn't want to accept, they just refuse. look at how long the property has been vacant and how much money the landlord therefore isn't getting each month. Compare with how long you plan to stay - if you are only staying six months you'll be less desirable in some circumstances but maybe more so in others.

if you have pets you need to offer a higher rent though!

I've made an offer in the past and it was negotiated up a bit but still less than the advertised price.

If they think you are likely to be a good tenant they may accept it.

I've done it.

The property was on at £850 for a while, then it dropped to £800 so obviously having trouble getting anyone in. Probably because it's next door to a small pub, which doesn't bother me. I had 2, now 3, kids so we're probably noisier than them anyway

We offered £750 and it was accepted, and no raises in the 3 years we've been here so far.

Make an offer don’t be shy. We’ve done it loads when renting particularly when you can see that the property has been hanging around for a while and they will be keen to get a tenant in.

No. Not when there are others interested.

You risk losing it since there are other interested parties but if you're prepared for that risk it's not so unusual. I've rented a lot and never done it but I only look at things competitively priced anyway. One place I liked but that was too expensive was on the market for a while whilst I was looking and eventually the owners dropped the rent by 10%. That meant that I could afford it and I did end up renting it so I guess I could have taken a chance and made an offer earlier.

Depends on the rental market in your area. Where I live houses go within hours. So you couldn’t offer less here. In fact I lost out on a house a couple of years ago because I handed in the paperwork then someone else offered £50pm over the advertised rent a few hours later. It’s shit but not all areas are like this.

My husband always dose. It makes me cringe but we always pay less rent then advertised 😂😂

I rented mine out for less than the listed price, but that was due to market conditions in the area and the fact that he was an incredibly desirable tenant who made improvements to the property on his own dime as part of the deal.

I rejected two who offered full market rent due to (a) awful credit check results (b) being a self confessed fraudster. I also refused a third who offered around 60% of what I was asking, proper CFs there.