Making an offer on a rental listing. £250 off?

[Lovelybluegrass]

Viewed a rental listing and we like the property but think it’s overpriced for what it is. It’s been on rightmove for 2 weeks.

It’s listed at £3,600 a month. An apartment in the same building, size, and slightly worse condition, let for £3,250. A nearby apartment that was slightly smaller rented for £2,800.

Move in date is perfect for us, but not soon. A worse version of the flat was reduced from £3600 to £3400 but hasnt budged in a month.

Do you think we could try and offer £3350 on a 24 month contract?

I think you need to wait longer. Two weeks is nothing and agents often leave them on for several weeks after they have actually been rented.

What do you mean “agents often leave them on for several weeks”? I’ve always seen rental listings removed or marked as let agreed as soon as someone offers and the LL accepts.

Of course you can try offering £3350 on a 24 month contract but no guarantee the owner will accept your offer.

Not at all the purpose of your post but I think it's disgusting that the rental market now involves 'offers'.

Used to be first come, first serve. If you liked it you paid the holding deposit and it was taken off the market while checks were done.

It's appalling that this was allowed to happen.

Yes, well that doesn’t always happen. Sometimes they don’t remove them whilst checks are happening, sometimes they just aren’t quick.

You can try however rentals are in high demand right now it's likely to be refused.

How could it be stopped though? It's a free market

The rental market is so saturated that it’s usually now a case of offering more money, not less. They usually have overwhelming interest in every property and people are desperate to secure one. The times of picking and choosing are over.

Legislation.

Bidding, sometimes on crappy rentals (I have seen some dire ones) is abhorrent and should be kept in check.

But, Tories gonna Tory. They would never do anything to stop this practice.

It started during Covid. It wouldn’t surprise me if rentals go to an actual auction-type format in the future, it’s getting that bad.

Of course you can offer. Then it is up to them if they accept. One of my school mum friends got her 2100 rental for 1940 last week so offers are happening.

Maybe the market with me is just different to elsewhere in the country or in outer London?

In Central prices are not rising and properties are often reduced.

Appreciate it might be a lot harder to find a family rental at say £1800 as there will be far greater competition.