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Original poster

Agent talking rubbish or am I mistaken?

24 replies

mumsie2007 · 14/03/2018 14:18

We are looking to rent for the first time and we will be renting out our property.

Did a viewing yesterday and made an offer. Was told today by the estate agent that 'With rentals you don't really make an offer, you just pay the asking price'.

In your personal experience is that how it works?

OP posts:

MumOfTheMoos · 14/03/2018 14:21

We negotiated our rent when we rented a few years back - because we were bloody good tenants and they New we would be.

So, that's not the case. Tell him to tell them your offer, he's obliged to and they can decide.

Obviously, if there's a queue of 15 potential tenants they're more likely to say no but that all they will do.

MumOfTheMoos · 14/03/2018 14:22

Sorry about the spelling

Chienrouge · 14/03/2018 14:23

Well we’ve rented 8 different properties and never made an offer (all were up for rent at fair market value) but that doesn’t mean you can’t. Up to them whether they choose to accept or decline.

OutyMcOutface · 14/03/2018 14:24

Well it’s not really the way it works but you can make an offer if you want.

BexleyRae · 14/03/2018 14:24

It depends on where you are as well. In my area negotiating on rents is practically unheard of, but when speaking to people with rental experience in other towns it is standard to negotiate

TheHodgeoftheHedge · 14/03/2018 14:24

Yep, that is my experience. The only time I would consider an "offer" is to offer more in order to secure it when I have been absolutely desperate to get the house and there has been nothing on the market so lots of competition for houses.

CotswoldStrife · 14/03/2018 14:25

No offers when we rented. We've been landlords to two sets of tenants and neither of them have made an offer either.

I can't see how making an offer would work, unless you are in a place where it's hard to find tenants - usually the opposite is true IME!

Original poster

mumsie2007 · 14/03/2018 14:31

Thank you all.

I think it may well depend on the property/area. We are renting out a 4 bed house and was told by agents that we should expect to accept an offer a couple of hundred pounds under the asking. Maybe as we're looking at renting a flat which are quite high in demand it works differently.

OP posts:

strawberrysparkle · 14/03/2018 14:32

I've never even considered making an offer. Most places round here you have to apply to be considered as a Tennant and then the landlord selects from a selection of applicants.

Because so many people rent in the area landlords can charge what they like as nice properties are very much wanted.

MumOfTheMoos · 14/03/2018 14:37

Yes, I think it all about demand and supply - we were renting a 4 bedroom garden flat in London. It's quite a small market as you can also rent houses for the kind of rent we were paying.

Later when we were landlords of a 1 bedroom flat nobody ever made us an offer they just paid what we asked & we always rented out very quickly. But that a market with loads of potential tenants.

Needmoresleep · 14/03/2018 14:46

It depends.

Is the property vacant or does it become available within the next couple of weeks.
How is it priced compared with comparable properties
Are you good tenants. No CCJs, no pets, will you reference well.

I will consider offers for the right tenant if I am facing a void. But not if it is priced correctly and I still have a while till the current tenants go. Low unrealistic offers tend to irritate me. However in London it is rare to get asking price unless tenants won't reference easily, eg international students or the self employed.

Original poster

mumsie2007 · 14/03/2018 14:58

The property is vacant. It's a bit quirky and we felt a bit pricey to other comparisons which is why we made an offer, but we could make it work. It's the location we're after.

We wouldn't have any problems with referencing, both professionals with combined income of over £140k. Not going to struggle on affordability as rent is less than 20% of net income. We offered to pay 6 months rent in advance.

Anyway, will keep looking and gauge from other agents whether landlords would accept an offer.

OP posts:

specialsubject · 14/03/2018 15:38

you are perfectly entitled to make an offer. I had a rental which after one void was rented to people who offered below the asking rent, it had been vacant for a few weeks. When they left the market had changed, there was a mini-scrum and we got more than we asked for.

voids cost landlords a lot. If you can afford it, don't smoke, don't have pets and have run a house before then flag yourselves up.

if you haven't already - read the how to rent guide on gov.uk if this is England.

IAmGluezilla · 14/03/2018 15:42

This reply has been deleted

Message withdrawn at poster's request.

MacaroniPenguin · 14/03/2018 15:54

We've had a small offer accepted. Timing was good though - agent closed the deal, landlord got rent in before christmas and we got a small reduction. Win win win. But I probably wouldn't bother to view one I thought looked overpriced from the pics as there won't be much wiggle room.

Svalberg · 14/03/2018 15:55

I've had offers every time my property has been available to rent - some stupid (e.g. we'll rent it for £200 under what you're asking and we don't want to move in & pay rent until 2 months after you want someone in) and some close to asking price that we compromised on.

The sales side of letting agents, however, I haven't got a good word for...

Original poster

mumsie2007 · 14/03/2018 16:28

Oh yes Gluzezilla when you mentioned longer lease, I remembered we wanted a 2 year contract no break clause!

OP posts:

MrsCaecilius · 14/03/2018 16:32

In my experience (renting out a flat in London, renting a house in Berkshire) you can make an offer.

We negotiated a reduced term on the Berks house than the landlord wanted (3 years) and in London I accepter a slightly lower rent as it meant that the flat rented immediately and I didn't have it empty for a month or more.

AgnesSkinner · 14/03/2018 18:23

If it’s been empty a while then I don’t see why an offer won’t be considered - some landlords are pragmatic, ie will take an offer because the drop in rent over a year say is financially more sound than leaving it empty for another month.

We rented a property that in boom times was £2500 a month - we were paying half that.

Maursh · 14/03/2018 18:39

I always make an offer on rent... the ea is talking rubbish. Obviously if there is other demand then it will be directed, but price is negotiable (always). Is he very young and a bit inexperienced?

Needmoresleep · 14/03/2018 18:46

If it is empty offer about 10% below, and tell the EA to pass it onto the LL explaining why you are good tenants.

The LL is losing money whilst the property is empty, not the EA!

TooManyMiles · 14/03/2018 18:52

We once allowed someone to rent for a little less than the original asking price because she was so obviously the sort of person we could trust - it was our own home and we were leaving some precious things around. We also knew where she was working from the reference checks, and what sort of salary she was getting, and so realised that she was asking for a lower price because it made her able to afford it more easily. This was many years ago though.

namechangedtoday15 · 14/03/2018 20:33

Yes why would it be any different to offering on a house?

Last time we rented, house was up for £1150 on a 6 month AST. We offered £1000 but said we'd sign a 12 month term. Obviously less hassle for landlord and less chance of an empty house in 6months' time.

It was December so potentially less demand but landlord agreed.

another20 · 14/03/2018 23:46

I have worked for a well known, up market EA who also do lettings in Home Counties. Loads of people offer - usually start at - 10%. Depends on the LL what happens next, some will sit with an empty property (eg large detached house) empty for YEARS an not take below what it is up for - the more prof LL will negotiate depending on the context - so larger houses are harder to let and even one month void (say £4-5K loss) hits hard - so if you are good tenants, paying up front with long term plans - then go for it. If you do plan to be there longer than the year - make sure that your contract is for 2 or 3 years on the same rate (with 6 month break clause) - otherwise you can expect a hefty rent increase at the end of your first year.

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