Making an offer to rent? Or asking price?

A2Z

A2Z

A2Z

Soldato
Joined
9 May 2005
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What's the deal with renting prices?

I know when people sell a house, they put the asking price x% amount higher than they would accept.

Is it the same when they rent out their place? Is it normal to offer less or the asking amount?
 
I've never been able to get movement on the initial rent price, but then I have only rented 2 different places which were average prices for the area/size to begin with. If/when they up your price after the first year, then you can haggle quite nicely, or at least I did.

Always try, don't expect much though.
 
depends what it is - my first place in London the woman renting the room was also the main tenant and was subletting so I could negotiate (though apparently as a result I was paying less than the guy in an identical room on the floor below).

At my second place it was a flat-share with a joint tenancy agreement, I was replacing an existing flatmate so no room for negotiation the rent with the landlord was already agreed and divided up per room.
 
Depends on the area / demand.

Last rental we managed to haggle a reduced rent as the market around here is pretty slow, in previous locations we just paid the rate asked for as otherwise someone else would get the property.
 
We asked the estate agent for about 6% off the asking rent on our current place as it was over our budget and the landlord agreed. Is a relatively pricey place though.

Go for it if you're not worried about missing out.
 
I recently let my flat in south London (zone 5). Put on the market for 1200 with aim of achieving 1100-1200. Set up 5 viewings for one evening. All offered asking, except one couple who offered 1250. Accepted 1250.

As others have said - depends on the local market.
 
Depends on how long the property has been on the market, if it's been a couple of months it's always worth offering a little less than asking, the landlord obviously wants someone in their property, and every month it's empty, they are losing a months rent.
 
I have never had the rent reduced, but have often gotten things changed for a slight increase.

In my last place they renovated the kitchen and put in new appliances for £50 more per month.
 
Where I am, rents still rip the ****, despite the place being a jobless wasteland. Greedy people, trying to make the best of their misplaced investments.
Offer them less. It's like everything, everyone charges too much, because no-one pays asking.

People charging rent round these parts, deserve taking down a good number of pegs. It's really enjoyable to see them failing right now.
 
I always offer them about 10% less than they ask. If they don't accept, I tell them I'm now offering 11% less and will continue to offer 1% less for every minute they waste my time.

We usually agree on their original price in the end, but for a short while I feel like I'm the man.
 
Kylevdm said:
In my last place they renovated the kitchen and put in new appliances for £50 more per month.
Click to expand...

That doesn't sound such a great deal to me,Sure you get a new kitchen but there after its going to cost you an extra £50 per month on top of whatever your rent was before? :eek:

Maybe its okay for you financialy wise,thats none of my business but for me that would be a deal breaker£50 an extra a month is a lot of money.
 
Just point out the maths to them, if a property has been empty for 2 months at an asking rent of £600/m, they have already lost out on £1200, if it's empty for another month, there's another £600, so offer £50 less and state that it's only a months rent over 12 months but guarantees a tenant for that length of time and no more loss, it will more likely work if the property has been on the market for quite a while though, i got £25 / month off a place once simply by saying i'll take it if he does it for x amount, they acepted straight away.
 
As a landlord I never take people that are trying to negotiate a discount as it adds suspicion that the rent is on the high side for them and could lead to missed payments. I set the rent at what I feel is a fair market price. Supply and demand market will determine if I got that right.

As wez130 points out its not worth having it empty for you have to set it attractively. I don't use any agency so get to control everything myself.
 
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