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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

aibu to be annoyed letting agent dropped rent by £50

382 replies

toohoottoday · 30/05/2020 10:34

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.

OP posts:

Fallsballs · 30/05/2020 11:29

Jesus “sour faced jealous hags” really ? Hardly called for.

OVienna · 30/05/2020 11:29

The boiler post was a corker! I'm sorry OP it must be challenging to ask a perfectly reasonable question, be an actual reasonable sounding person, and find you've raised the pitchfork brigade from their slumber.

Original poster

toohoottoday · 30/05/2020 11:31

How about not buying it at all, thereby not driving property prices up by commoditising basic needs, and letting someone else buy and live in it for a more reasonable price.?

Why are you assuming I bought it to be a rental property?

OP posts:

thedancingbear · 30/05/2020 11:32

Interesting that I've been called a 'wanker', a 'cunt' and a 'sour-faced hag' for pointing out that professional landlords really don't contribute to society by making things, providing useful services to people etc.

No attempt to explain what they contribute to the world, or how their 'business' isn't fundamentally exploitative.

Tells you lots about the mentality in the sector, doesn't it.

Sparklfairy · 30/05/2020 11:33

How about not buying it at all, thereby not driving property prices up by commoditising basic needs, and letting someone else buy and live in it for a more reasonable price.?

This is just a ridiculous argument. If landlords couldn't buy houses, most of them would lie empty, which would drive up rents as they would be fewer rentals on the market. It's the mortgage companies who decide who can buy, it's not even just about being 'able' to save a deposit (which is the renter argument - rent is too high therefore I can't save), there's a whole lot more that goes into affordability and credit checks. You can't just rock up with 15-20k deposit and they'll give you a mortgage. So landlords wouldn't be able to buy the houses, but most of the renters wouldn't either. How is empty houses a solution?!

WombatChocolate · 30/05/2020 11:33

You needed to be clearer and firmer and he needed to be clearer. This is all a communication problem.

You have a choice now - accept what has happened and have certainty of tenant, or tell him it's not what you want and to re-list....there is a risk with this. It is totally up to you which to go for.

Make sure it doesn't happen again by spelling out that you will never expect him to list it without your agreement on price.

It's happened now. You either accept less, or have it re-listed at a higher price which will look odd to some people and now is unavoidable. You'll have to judge how desirable it is and if the re-listing will out people off or if you are very sure it will get the higher rate. Totally your call and not the agents.

TerrapinStation · 30/05/2020 11:33

@Heroicasymphony

You really haven't done your sums meticulously if you think you can afford to do this without allowing for £600 wiggle room over the course of a year. And actually yes most people would be able to absorb a £50 drop monthly income.

Oh, give over, there are some really ridiculous posts on this thread.

For all you know £50 could be what the OP uses for insurances and breakdown covers so the tenants get any problems sorted easily and quickly.

All you landlord haters are coming off as being a little unhinged. For all you know the OP could be an accidental landlord and a darn good one at that.

OVienna · 30/05/2020 11:34

Sour faced jealous hags is about right. People have just used this thread as a platform to air their political/social views, sticking the boot into the OP.

LesleysChestnutBob · 30/05/2020 11:35

I said your post was cuntish not that you're a cunt. Clearly you're having trouble with reading comprehension.

Fallsballs · 30/05/2020 11:35

I find it interesting that the people who are coming out with such abusive terminology are in support of the buy to let etc too @thedancingbear

Sparklfairy · 30/05/2020 11:35

Cake isn’t a necessity. Housing is.

Basic food is essential though. I don't see anyone having a go at supermarkets for 'exploiting' people by making a profit on bread and milk

Thelnebriati · 30/05/2020 11:35

He sounds dodgy. He is in breach of contract, if he wants to reduce his fees by £50 a month then that's his choice.
What other corners is he cutting?

thedancingbear · 30/05/2020 11:35

If landlords couldn't buy houses, most of them would lie empty, which would drive up rents as they would be fewer rentals on the market.

What a silly comment. The price would come down - basic supply and demand - and more people would be able to afford them. You live in a fantasy world if you think millions of properties would be left empty as property prices continue to spiral, if it wasn't for lovely, benevolent landlords.

Fallsballs · 30/05/2020 11:35

@LesleysChestnutBob
Time to lie down love

thedancingbear · 30/05/2020 11:36

I said your post was cuntish not that you're a cunt. Clearly you're having trouble with reading comprehension.

You're not really making yourself sound any less abusive are you?

Werkwerkwerkwerkwerkwerk · 30/05/2020 11:37

I dont understand why this is so difficult....

It's a rental property, that has multiple potential tenants....

Why not bid it due to increased interest.

I'm sure at least one of the potential tenants will up their offer by £50

Cherrysoup · 30/05/2020 11:37

I’d tell the agent to re-list at the higher price then dump him. That’ll save you money! I have 2 rentals and I only use an agent to source and finance check tenants. Saves a fortune.

LesleysChestnutBob · 30/05/2020 11:40

@thedancingbear

I said your post was cuntish not that you're a cunt. Clearly you're having trouble with reading comprehension.

You're not really making yourself sound any less abusive are you?

Oh as if I give a care, go bang your anti landlord drum somewhere else

Notthetoothfairy · 30/05/2020 11:40

I don’t think the OP’s question was “Do you approve of my being a landlord and not having a high paying job?”

Nothing to add to previous PPs, sounds like you are a good landlord and doing a sterling job for a charity.

Sparklfairy · 30/05/2020 11:40

The price would come down - basic supply and demand - and more people would be able to afford them.

This is still dependent on whether the renters would be able to secure a mortgage. They're quite hard to get these days you know, this isn't pre-2008 with 100%+ mortgages and lending money recklessly. I agree partly with what you say about prices coming down but you're looking at it far too simplistically from an economics point of view.

Original poster

toohoottoday · 30/05/2020 11:41

@WombatChocolate

You're quite right.

OP posts:

MyOwnSummer · 30/05/2020 11:41

FGS do not cave in! Your agent has failed to follow instructions. Cancel the contract, and get your money back. Or failing that, tell the agent to inform the interested parties that they have made an error and the correct price is X.

Stromgly advise you to use openrent- you have to conduct viewings yourself but you get an awful lot for the very low fee. Agents are rip off merchants, all this guy cares about is a quick commission payment and then on to the next.

thedancingbear · 30/05/2020 11:42

Basic food is essential though. I don't see anyone having a go at supermarkets for 'exploiting' people by making a profit on bread and milk

They source the products and collect them in one place close to where you live, clean and package them, keep them cool and fresh, provide trolleys and free parking, and helpful staff to show you where stuff is kept. You can kill your own cow and go and buy your potatoes directly from the farmer if you want.

What service to landlords supply?

thedancingbear · 30/05/2020 11:45

It is simplistic but I don't think it is too simplistic. The nub of the point remains valid and both the sales and mortgage markets would adjust over time. I could probably still muster 10000 words on the subject of the interaction between the house sales, buy-to-let, mortgage and social housing marketplaces but I don't think anyone would want to read it.

Sparklfairy · 30/05/2020 11:46

What service to landlords supply?

I had a big leak that was repaired for free. I moved into a place where all white goods were supplied saving me money and hassle buying them myself. Plus of course if I couldn't rent, and not in a position to by either, I'd be on the street.

It's a service whether you like it or not, or whether you think the profit margins are too high or not.

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