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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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:
ArgumentativeAardvaark · 30/05/2020 13:34

If you don't like those offers you're totally at liberty to turn them all down and tell him to get you offers at a higher rent.

You mean, do what he was contracted to do in the first place? After having potentially lost 3 tenants who might have gone for it at a higher rent to begin with, but are unlikely to agree to an increase because they will feel they are being messed around after being told the rent was lower?

It’s pretty basic- you agree with the landlord the price at which the property will be advertised. You do not advertise it until that price has been agreed.

AuntyRigsby · 30/05/2020 13:36

You mean, do what he was contracted to do in the first place?

Hi @ArgumentativeAardvaark

From my reading of the original post, that's what the agent has done.

BatShite · 30/05/2020 13:38

YANBU, I cannot believe they did this without permission. Its up to you to set rents, not them!

Purpletigers · 30/05/2020 13:41

Just another poster - we rent property . We do it to make money . I won’t apologise for taking an opportunity to make my children’s futures secure .

ArgumentativeAardvaark · 30/05/2020 13:45

@weaselKnickers

He had chatted with me about rental but we didn't agree to drop it.

I am therefore surprised therefore after checking his website to see he has advertised it as lower than the previous rent.

verlioca · 30/05/2020 13:47

Did you have any correspondence with the agent agreeing the original price?
I would just go back to the agent and tell to either fix the price to the agreed with the prospective renters, or to deduct this £50/month fro their commission. Simples.

Original poster
toohoottoday · 30/05/2020 13:47

It’s pretty basic- you agree with the landlord the price at which the property will be advertised. You do not advertise it until that price has been agreed

Well, I thought it was agreed (the price we previously got) and were chatting about how prices may need to change, but without agreeing that as he was outlining the case for and against a price change. Ie a heads up, but not one we needed to act on as he already had three interested parties before advertisement. It didnt' occur to me he would alter the price without my express agreement. However, I sure have learnt a lesson for the future and we obtain a concrete agreement with him about the price at each tenancy end.

OP posts:
AuntyRigsby · 30/05/2020 13:52

Hi @ArgumentativeAardvaark, I think we're both referring to the same post!

RainbowGlittersandSparkles · 30/05/2020 13:54

Man there are some horrible jealous people on here.

Seventybillionnamechanges · 30/05/2020 13:54

Op have you actually spoken to the agent? Have you seen the “offers” from the three that are interested? It may be that it’s just wrong on their website. Or it could be that they do “from” or whatever.

Seventybillionnamechanges · 30/05/2020 13:55

It actually doesn’t sound like they’ve secured a tenant - just usual agency waffle that “we have people on our books”. Have they even viewed the property etc?

Original poster
toohoottoday · 30/05/2020 13:56

He won't be at work today. I won't be able to speak to him till Monday. I doubt it is wrong on the website.

OP posts:
Original poster
toohoottoday · 30/05/2020 13:58

No, he has definite offers. He held viewings of the property on Friday and he has copied me the text from the emails of those who are saying they definitely want to take the property, along with some details about each. He told me to get in touch Monday with which tenant I wanted to take up.

OP posts:
Seventybillionnamechanges · 30/05/2020 14:00

Sorry just reread the op and realised that he has put the people forward to you. Just say “can you clarify what they are offering”.

Ireolu · 30/05/2020 14:02

@Mummyoflittledragon

We were shocked too. DH was furious. It happened and as the tenant had signed an agreement (granted with the letting agent), she did not want to throw them out so kept the tenants for a year. Demanded to see what paperwork they had on the tenant and collected back rent from the agency. The London housing market can be very dodgy. That is our experience anyways also as tenants. She came back to London and changed agents.

AuntyRigsby · 30/05/2020 14:02

He told me to get in touch Monday with which tenant I wanted to take up.

Zero is a valid choice!

Howdidido · 30/05/2020 14:02

It doesn't really matter why. You didnt agree it. The agency must sort it out

PinkSparklyPussyCat · 30/05/2020 14:07

So landlords and mortgage lending are both exploitative. I'm sure some people think they should be given everything for nothing!

Regarding the extra £50, has it occurred to any of the landlord bashers on here than OP is putting the money aside for repairs and trying to reduce something else in her budget?

rottiemum88 · 30/05/2020 14:08

Honestly OP I don't understand why you've decided that being £50/month down is the only option you have here. Tell the agent the rent needs to be increased back to what it was. Whether the current 3x prospective tenants are still interested or not is neither here nor there, if you're confident that it will rent at the previous rate. You're allowing the agent to dictate too much

Original poster
toohoottoday · 30/05/2020 14:11

I suppose my problem is that the people who are interested now, are the people who are currently looking for a property like that in that area. People register an interest in that type of property with that letting agent and then he tells them when one of those come on the market. So if they don't want a rent increase (as it will seem to them), or feel messed about, and so turn it down, I could have a longer void.

If I were a potential tenant and I was told the rent is x, but then told when I said I want it, actually it is y, I would feel messed about and like I couldn't trust that landlord. It would look like I put it low to get them interested and then raise it at the last minute to try to squeeze more out. I think I would think twice about taking the property if that happened to me.
I don't think there is any chance of the agent covering the loss.

OP posts:
AuntyRigsby · 30/05/2020 14:18

Then having ruled out all other possibilities, your only option is to rent it at £50 a month less.

Ellmau · 30/05/2020 14:19

I suppose my problem is that the people who are interested now, are the people who are currently looking for a property like that in that area. People register an interest in that type of property with that letting agent and then he tells them when one of those come on the market.

Perhaps they have also said what they are willing to pay?

It's definitely worth telling the agent you think there has been a mistake in the price, as you were expecting £X. But I wouldn't be surprised if he told you that was all those interested right now will pay, which means you either have to swallow it, try to negotiate, or say you will wait for another tenant (risky).

AuntyRigsby · 30/05/2020 14:20

And, with reference to the title to be annoyed!

(Although that won't really help.)

unlikelytobe · 30/05/2020 14:22

Cake isn’t a necessity

I would just like to interrupt this erudite discussion be saying this is an outrageous assertion!

Carry on.

Original poster
toohoottoday · 30/05/2020 14:26

Regarding the extra £50, has it occurred to any of the landlord bashers on here than OP is putting the money aside for repairs and trying to reduce something else in her budget?

Yes,thank you @PinkSparklyPussyCat , that is the point I have been trying to make! I have a business budget, which I do not want to take the £50 from so that I can still meet my obligations as a landlord to repairs etc. The £50 is a loss of profit so that will be from my personal budget.

OP posts:
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