Asking for a rent reduction

Anti

With the current economic climate, do you think it would be worthwhile asking the LL for a reduction in rent? I've noticed alot of apartments where me and my missus live are empty. And if so how much should i ask for on a reduction of rent that is 1100€ p/m.

Cheers.

RentDayBlues

when we asked for a reduction, we looked at apartments in the area and what they were going for at the time. They offered a reduction of €100 on a rent of €1800 and we got it down to €1650. This was 9 months ago before all the rents really started to fall so we are tempted to ask again.

If I were you I would ask for €900 but I think they are likely to offer either €1000 or maybe even €950

Rayan

When did you start renting for €1100 ?

Depending on that I'd tell them you want the rent reduced to €950 or you'll have to move out (make up something about the new income/health levies affecting you). This doesn't have to be true though (the moving out threat), if you want to stay for the existing price you can always ring them back a few days later and say you have decided to stay.

It's very unlikely they'll get new tenants to pay €1100/month (depending on the place/time you start renting/etc) so if they're sensible they'll accept your offer.

Xiney

Are you on a fixed term lease at present? If you are, then you may not have that much bargaining room, but they may want to keep you happy so as to have you stay there beyond your lease.

If you have just a few months (say, 2 or 3) left in your fixed term lease, then it's certainly worth a try because they will be sh*tting themselves at the prospect of trying to get another tenant (and if not, they should be)

oldyouth

I'm on at my son constantly to ask his landlord for a rent reduction. He shares with a few others but he says he is unlikely to get one as he is near a university.Guess what, Dad pays the rent!!!

Supply and Demand. If you don't ask, you don't get

Interyurauldone

Anti wrote: »

With the current economic climate, do you think it would be worthwhile asking the LL for a reduction in rent? I've noticed alot of apartments where me and my missus live are empty. And if so how much should i ask for on a reduction of rent that is 1100€ p/m.

Cheers.

Go for it. What harm in asking? As my parents always told me "The dumb priest never got a parish"!!

I live on the northside where we pay €2000 for a 5bed, which is good value but we still looked for a reduction(bit cheeky maybe !!). We didn't get it though . The LL justified not dropping the rent because he's going to landscape the parking area which has a few shrubs and bushes, he continued by saying he was also going to put in a few extra car parking spaces by taking out the bushes he was meant to be "landscaping"????!!

So be prepared for a few excuses from your LL is what i'm trying to say.

Best of luck man hope u get it!

Anti

Yeah its a fixed term lease, started it about 6 months ago. Main thing i'm concerned about is if the LL refuses to move on the reduction and we move somewhere near we will loose our full deposit. Some people are saying you can get it back with giving notice, others say you can not.

Xiney

Some people are wrong.

When you sign a 12 month lease, you are agreeing to pay your landlord the amount of rent on the lease. So, in your case, 12 x 1100 = 13200. If you move out before paying that amount, he has the right to persue you for it. Hence, he can keep your deposit for "rent arrears", and if he's in a particularly nasty mood, might try to take you to court for the rest of it.

So your landlord may agree to reduce your rent if he/she thinks it'll keep you happy and in the place after the 12 months - but they're pretty much aware that they have you up the wall up until the 12 months is over.

Of course, you shouldn't believe me any more than you should believe anyone else. Check out threshold's website.

6. Can the tenant leave before the end of the lease?
If a tenant wants to leave before the end of the lease (and there is no break clause), the tenant needs to:

* Find someone else to replace the existing tenant in the lease;
* Write to the landlord, requesting permission to assign the lease to this new person.

If the landlord refuses consent, the tenant can give the landlord notice of termination and leave. The notice period is calculated by how long the tenant has lived there.

gaius c

Xiney wrote: »

Some people are wrong.

When you sign a 12 month lease, you are agreeing to pay your landlord the amount of rent on the lease. So, in your case, 12 x 1100 = 13200. If you move out before paying that amount, he has the right to persue you for it. Hence, he can keep your deposit for "rent arrears", and if he's in a particularly nasty mood, might try to take you to court for the rest of it.

So your landlord may agree to reduce your rent if he/she thinks it'll keep you happy and in the place after the 12 months - but they're pretty much aware that they have you up the wall up until the 12 months is over.

Of course, you shouldn't believe me any more than you should believe anyone else. Check out threshold's website.

You can leave during a lease period with no breakage clause. You just need to give adequate notice.

Xiney

Not legally, you can't.

Seriously. You might get away with it, but you're breaking a contract and the landlord has every legal right to pursue you for the rest of the rent you signed up to pay. Whether he does or not is another matter... but if he figures he's got a better chance of getting the rest of your rent (especially if there's a lot of it left) than getting someone else in to take over, you're in trouble.

Ali27

I was paying over the odds for Rent in My Area & when we first asked our Lady Lady for a reduction she laughed... We expalined that we would have to move out & she lowered it by €150 per month. I would suggest you give it a go but make sure you know what others are going for in the Area.

Defo worth while investigating.... :P

kaimera

yep, legally you can't.

Trying to sort out my old place at the minute. He can try get the last few months of rent but with my housemate being made redundant he has zero chance of getting the remaining rent from either of us.

gaius c

So what is the point of the prtb notice periods or is that only for part 4 where the lease has expired?

As for rent reduction time, lease renewal time is an ideal time to state that you'll be moving out to a cheaper place you've found unless the landlord plays ball. Be prepared to move though. Some of them will try to call your bluff.

Xiney

the notice periods are for when you are a) on a non-fixed term lease or b) when your 12 month lease has finished and you are on a non-fixed term Part 4 tenancy.

Tim Robbins

Anti wrote: »

With the current economic climate, do you think it would be worthwhile asking the LL for a reduction in rent? I've noticed alot of apartments where me and my missus live are empty. And if so how much should i ask for on a reduction of rent that is 1100€ p/m.

Cheers.

I rented my apartment for 1200 last year and can only get 960 for it this year.

I would get rent prices from daft and I wouldn't pay anymore.

Anti

Thanks for the advice all. Have rang the LL and explained that rent prices have dropped alot in the area and am looking for a reduction. She will give me a ring back later on.

Tim Robbins

Anti wrote: »

Thanks for the advice all. Have rang the LL and explained that rent prices have dropped alot in the area and am looking for a reduction. She will give me a ring back later on.

Well make sure you get 25%. Say you are thinking of moving to a specific place for a specific price.

athtrasna

Anti wrote: »

Yeah its a fixed term lease, started it about 6 months ago. Main thing i'm concerned about is if the LL refuses to move on the reduction and we move somewhere near we will loose our full deposit. Some people are saying you can get it back with giving notice, others say you can not.

You are entitled to a rent review - every 12 months. Personally I wouldn't be keen on reducing the rent so early in the lease, especially when the lease is a legally enforceable contract.

Anti

Okay the LL rang back this morning and said the lowest she can go is to take 100€ a month off. I feel slightly offended to be honest. Should i ring her back and try to push another 100€ off ?

MelonieHead

Definately ask for ore if there are similar placces in the area going for €900 a month.

inforfun

Take the 100 and ask for another reduction once your lease expires?

Tim Robbins

Anti wrote: »

Okay the LL rang back this morning and said the lowest she can go is to take 100€ a month off. I feel slightly offended to be honest. Should i ring her back and try to push another 100€ off ?

Look it's all to do with cost. If it's cheaper for you to break your lease, move. Move. Go on Move.

If it's not cheaper to move. Don't and forget about acting the whinge or the scab. It creates very bad feeling. Not all landlords are rolling in yo yos. In my own case, I'm skint. My wife lost her job and we have two morgages between us for two small apartments. Ideally I'd sell my one and then negate the hassel from renting and only have one morgage but we'd never sell it now, so it's a burden rather than a shinning money spinner.

If some tennant kept annoying me, I wouldn't give a good reference.

And you should thank people who have given you their time here as well.

mikemac

Haggle like mad at renewal time.
I was paying 1050 for a two bed which was a good rate for the estate 11 months ago.

Now some are being advertised at 900 and some are advertised at 1100 :eek:
Some difference, what's going on? Some apartments are going to be empty for quite a while if want to price themselves out of the market!

Anyway, I told the landlord to go to 900 or I was gone and I meant it.
No probs, it was agreed to pretty much straight away.
This place was bought back in the early 1990's so I doubt they have the worries then newish landlords have.

Meh, I don't think I'll stay in the area though. But for sure at renewal time, check the local area and don't pay more the going rate.

Rayan

Tim Robbins wrote: »

Look it's all to do with cost. If it's cheaper for you to break your lease, move. Move. Go on Move.

If it's not cheaper to move. Don't and forget about acting the whinge or the scab. It creates very bad feeling. Not all landlords are rolling in yo yos. In my own case, I'm skint. My wife lost her job and we have two morgages between us for two small apartments. Ideally I'd sell my one and then negate the hassel from renting and only have one morgage but we'd never sell it now, so it's a burden rather than a shinning money spinner.

If some tennant kept annoying me, I wouldn't give a good reference.

And you should thank people who have given you their time here as well.

You can't dictate the rental market based on your own personal circumstances. There are probably equal numbers of older landlords who bought in the 80s/90s and fully own multiple properties with no mortgage to pay. But again that doesn't matter, you can't price your rental properties based on your personal situation, you price them based on their market value.

Also I personally wouldn't hesitate about possibly saving hundreds or even thousands of euro, because my poor landlord might be slightly offended. Landlord references aren't worth much anyway, in the current market they aren't even required in a lot of cases.

Anti

Why so hostile Tim, got out on the wrong side of bed today. I understand the situation you and your wife are in must be tough, but it bears no relevence to this thread...

Tim Robbins

Rayan wrote: »

Landlord references aren't worth much anyway, in the current market they aren't even required in a lot of cases.

That's nonsense. A good reference, good tennants make a huge difference.
If you are looking for a nice place, and a landlord has to choose between those that have references and those that don't, they'll usually pick the former.

In my own case, I dropped the rent to ensure I got tennants that had good references and when they came along, I kept the place and lost another's months rent just for them.

Anti wrote:

Why so hostile Tim, got out on the wrong side of bed today.

I don't think it's fair to make an agreement with someone (or make it look like you have) and then to try to re-negotiate. Whatever it is.

If everyone acts reasonable and respectful of other people than the world and life is a bit better for everyone.

The market decides the price, it's that simple. If you are not getting market price, and you want it well then move.

I don't think it's fair trying to reck your landlord's head. How would you like if the tables were turned and the market picked back up. He rang you (or whoever the tennant is) and said due to market conditions I am putting it up 100 euros.

Then he rang the tennants back and said actually, I've decided it's now 150 euro.

The tennants would be rightly livid because the landlord is acting unethically.

Well it goes both ways. That's all I'm saying.

Do your research, negotiate and then take it or leave it.

I hate that changing the mind thing.

RentDayBlues

LL's have had it too good for far too long! They demanded whatever rent they wanted and due to the lack of accommodation available they generally got it. If they wanted to increase the rent they would and unfortunately most tenants had to put it with it.

Now the tables have turned and its a case of ethics? I don't think so.

Anti - your LL offered a €100 off which means she realizes you are a good tenant and she wants to keep you, ask for more and see exactly how much she wants to keep you. Bear in mind that it will be more cost effective to give you a reduction and another 12 month lease than to lose you and try to find someone else.

If I was to get a good reduction on my rent I would sign another 12 month lease no problem.

Tim Robbins

RentDayBlues wrote: »

LL's have had it too good for far too long! They demanded whatever rent they wanted and due to the lack of accommodation available they generally got it. If they wanted to increase the rent they would and unfortunately most tenants had to put it with it.

That's just nonsense. Unless they sold in 2006 or bought what they were renting pre 1996 they more than likely lost money or made very little.

Now the tables have turned and its a case of ethics? I don't think so.

There's a huge amount of people who aren't the evil landlord stereotype you seem to conveniently put them all into.

I have never heard of a landlord, agreeing a price increase only to ring them back a day later and say I'm going to put it up even more.

If you think it's ok for a tennant to do that, than it's you whose lowering the ethical bar.

Ever hear the phrase two wrongs don't make a right?

Rayan

Tim Robbins wrote: »

That's nonsense. A good reference, good tennants make a huge difference.
If you are looking for a nice place, and a landlord has to choose between those that have references and those that don't, they'll usually pick the former.

In my own case, I dropped the rent to ensure I got tennants that had good references and when they came along, I kept the place and lost another's months rent just for them.

I don't think you realise what's happening in the market, maybe this site might clear it up for you:

http://daftwatch.atspace.com/

and here's a chart

http://daftwatch.thepropertypin.com/daftwatch/static/rental_total.png

The market decides the price, it's that simple. If you are not getting market price, and you want it well then move.

I don't think it's fair trying to reck your landlord's head. How would you like if the tables were turned and the market picked back up. He rang you (or whoever the tennant is) and said due to market conditions I am putting it up 100 euros.

Landlords have been doing this for years during the boom, I personally know a couple who were forced out of their rental accomodation because of the landlord hiking the rent DURING A LEASE. Cop on, it's so obvious you have a vested interest in the rental market, people should be ENCOURAGED to haggle with their landlord to get the realistic prices and return prices to their true market value.

If my landlord came back and offered 100 euro off the rent, but it was still over the market value - of course I wouldn't accept it, and would attempt to renegotiate. Only a fool wouldn't.

SoupyNorman

Hey Anti,


Im nearly in an identical situation as yourself. We rented a place 7months ago at €1200 (new apartments in city centre location). Seen a similar apartment going for €1000!

Rang the letting agent and although I was totally prepared for the LL to refuse (as we entered an agreement) he knocked €100 off. Now I could have tried to ask for more but I'm adapting a different approach. When the lease is due for renewal, then we will be driving a seriously hard bargain. There is umpteen 1beds within 20mins of our current location in all directions AND we are exemplary tenants and the LL knows this so it will be the case that he can drop the rent to what we want to pay, be guaranteed the renal income off us and have piece of mind that we'll keep the property in great nick or risk having to find new tenants...the choice will be his. All it will mean to us is moving which is an inconvenience but if it means paying less rent then I dont mind so much.

Tim Robbins

Rayan wrote: »

I personally know a couple who were forced out of their rental accomodation because of the landlord hiking the rent DURING A LEASE.

That's disgraceful. Did they couple go to the PTRB? If not, why not?

Cop on, it's so obvious you have a vested interest in the rental market, people should be ENCOURAGED to haggle with their landlord to get the realistic prices and return prices to their true market value.

There's no disagreement with getting market prices. Absolute none. So put away that silly argument.

I disagree with the negotiating tactics.

As I said (which unfortunately seems to have been conveniently ignored), if a Landlord said to his tennant, "listen I'm hiking up your rent by 100 euro" only to turn around a few days later and say "actually I am changing my mind it's going to be 150 euro or you're out".

That would be absolutely disgraceful.

I'm saying the same rules should apply to landlord and tennant. That's fair.
I am objecting to unethical negotiating tactics.