aibu to be annoyed letting agent dropped rent by £50

[toohoottoday]

I have just found out my letting agent has dropped the rental for the property I rent by £50. This rental income represents over half my income, and I can't really afford a drop. He had chatted with me about rental but we didn't agree to drop it. He had said we may have to, but then rents had increased since our last tenant came in, so the drop due to the covid situation may even it out to the current rent level, and that he already had three households interested before it was even advertised. So given that, and being as we never agreed a decrease, I wasn't expecting it to be dropped. There are now several tenants who all want to rent it and he has asked me to choose this weekend. I am therefore surprised therefore after checking his website to see he has advertised it as lower than the previous rent.

AIBU to be annoyed about this? I don't suppose there is anything I can do about it now. That is £600 a year that I will be poorer off and I am already on a low income with two kids to support.

The wounded posts from landlords who seem so hurt that they are widely regarded as exploitative rather than charitable always make me laugh.

I'm a wounded landlord! The pain of your disdain keeps me awake on many nights. I can't speak for the rest of us sociopaths. But for me it's more the hypocrisy. I find it very hard to believe that the posters who define my activities as exploitative (and I'm quite happy to go along with that notion) are not equally as exploitative with regard to some other asset class!

@GoatyGoatyMingeMinge

I must admit, I often lie awake at night feeling guilty for charging my employers such an exorbitantly high hourly rate. I mean, they offered it to me, and I accepted it, and they say they’re perfectly happy with the deal, but I think I’ll drop it by £50 a month because it just feels like the right thing to do.

🙄

@SnoozyLou You conniving scoundrel!

@GoatyGoatyMingeMinge

😂

For those asking what a LL would do if tenants did not pay rent over long period of time, I can tell you. A LL insures against non payment of rent. If tenants trash your property you can get it done up again and write the repairs off against your tax bill. I have been a LL for 12 years and have 6 b2l properties and only one tenant has left property in a mess. Most want their deposit back so leave it clean.

O.P. I admire the way you so eloquently stood up for yourself and so sorry at the nasty mindless replies you have received.
I hope you have sorted it out with the agent. Please let us know how they justified their error.

Interesting ammunition: apparently there has been a spike of interest among potential tenants, which COULD result in increased rental prices: www.bbc.co.uk/news/uk-england-52847319

However, it is also possible that those moving might be wanting to do so because they need somewhere cheaper due to change of circumstances. Still worth mentioning though.