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Rents are basically non-negotiable!

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    #32
    ceadaoin.
    Registered Users Posts: 8,276 ✭✭✭ceadaoin.


    murphaph wrote: »
    To be honest your landlord was a bit naive there. A lease is useful for the tenant and offers security of tenure. To a landlord however it really offers very little protection. If a tenant breaks a lease, going after them for the lost rent is an expensive and mostly fruitless process that just makes the legal profession richer.

    Are you really paying €1000 a month less than comparable properties? It must be a very expensive area to allow such discrepancies in rent!

    It's Ballsbridge so it is expensive, we actually thought we wouldn't be able to find anywhere we could afford. Our rent is €2000 a month, this other place which is an identical house (and actually not as nice decor wise) was advertised on Daft for €3000.


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    #33
    mikemac1
    Closed Accounts Posts: 12,395 ✭✭✭✭mikemac1


    murphaph wrote: »
    The whole negotiation thing is annoying. In Germany the advertised price is the landlord's best price-no negotiation required: you can afford it or you can't.

    The landlord bargained with the bank, haggled with tradesmen, haggled over furniture, haggled for the best insurance deal

    Of course a viewer is going to have a go


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    #34
    sunnysoutheast
    Registered Users Posts: 2,072 ✭✭✭sunnysoutheast


    ceadaoin. wrote: »
    murphaph wrote: »
    To be honest your landlord was a bit naive there. A lease is useful for the tenant and offers security of tenure. To a landlord however it really offers very little protection. If a tenant breaks a lease, going after them for the lost rent is an expensive and mostly fruitless process that just makes the legal profession richer.

    Are you really paying €1000 a month less than comparable properties? It must be a very expensive area to allow such discrepancies in rent!

    It's Ballsbridge so it is expensive, we actually thought we wouldn't be able to find anywhere we could afford. Our rent is €2000 a month, this other place which is an identical house (and actually not as nice decor wise) was advertised on Daft for €3000.

    Maybe they negotiated it down to 2000! :-)


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    #35
    January
    Closed Accounts Posts: 23,862 ✭✭✭✭January


    Five minutes down the road and still in walking distance (or a short bus hop away by the 17a) is Santry Cross which is within your budget.

    http://www.daft.ie/searchrental.daft?id=1211768

    http://www.daft.ie/searchrental.daft?id=1235564

    http://www.daft.ie/searchrental.daft?id=1236203

    Actually, do you know what... just have a look here


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    #36
    Milk & Honey
    Banned (with Prison Access) Posts: 1,950 ✭✭✭Milk & Honey


    Zulu wrote: »
    Apologies, I left that rather crucial part out of the post - sorry. I was taken aback because after he'd agreed it was the nicest for that price, agreed it was good value, told me he wouldn't be interested unless I did him a deal. Apparently people "from west cork like a deal like" and he "couldn't be paying the asking, that wouldn't be a deal at all". Seemed to me he'd have preferred I advertise it for more, and then knock a bit off.

    I'd rather get people through the door & let it sell itself on it's own merits.

    The same thing happens with cars. Some people prefer to pay a higher price for cars and get a higher trade in. Mathematically it is the same thing but that is the way some people are. one manufacturer tried straight pricing a few years ago and had to stop because people felt they weren't getting enough for the trade ins!


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    #37
    Catweasel
    Registered Users Posts: 54 ✭✭Catweasel


    Monife wrote: »
    That is not really my problem. Aren't rents suppose to be based on the market value of the house (and some sort of calculation that I do not know)? Correct me if I am wrong.

    I think you are referring to the fact that rents and market values of houses are usually correlated. The yield (i.e. rent) normally represents between 4 and 7% of the market value depending on who you listen to. This was not the case in Ireland over the boom years which was a red flag about house prices. Yields are in correction mode at the moment.

    In Ireland, rents are more stable and visible than sales prices so it is easier to work out the fair market value from the rent than vice versa.

    Edit. Just looking at your figures in the opening post, the apartmentments seem to be trading at 6-9% yields, which may not be untypical at the moment considering the poor sales market for apartments and comparing to Allsops auction sales yields.


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    #38
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    January wrote: »
    Five minutes down the road and still in walking distance (or a short bus hop away by the 17a) is Santry Cross which is within your budget.

    http://www.daft.ie/searchrental.daft?id=1211768

    http://www.daft.ie/searchrental.daft?id=1235564

    http://www.daft.ie/searchrental.daft?id=1236203

    Actually, do you know what... just have a look here

    To be fair, Santry Cross is not really Santry. Its a different world than Northwood, I wouldn't live in Santry Cross if it was free.


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    #39
    juan.kerr
    Closed Accounts Posts: 2,766 ✭✭✭juan.kerr


    gurramok wrote: »
    To be fair, Santry Cross is not really Santry. Its a different world than Northwood, I wouldn't live in Santry Cross if it was free.

    'To be fair', it sounds like the OP may not be able to afford to live in Santry so January has made a legitimate alternative suggestion.

    If the OP doesn't wish to live in Santry Cross then it seems like they will have to pay more they they budgeted for to live where they want to live.


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    #40
    January
    Closed Accounts Posts: 23,862 ✭✭✭✭January


    gurramok wrote: »
    To be fair, Santry Cross is not really Santry. Its a different world than Northwood, I wouldn't live in Santry Cross if it was free.

    To be fair, I've lived in two apartments in Santry Cross and you don't have the trouble you would have in Ballymun. You're out of the way of everything and it's a two minute drive to Northwood and the shops that are at Gullivers retail park. OP can't afford to live in Northwood, Santry Cross (especially the side that's gated, where the Metro Hotel is) is a good alternative.


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    #41
    Sea Filly
    Closed Accounts Posts: 1,213 ✭✭✭Sea Filly


    kdowling wrote: »
    Formula???
    It people are willing to pay €1500/month they will be set at that price, if people are only to pay €600 they will be set at that price.

    Someone may have come up with a formula as a guide but the market will decide the price.
    Lots of renters out there = high price
    Not many renters= low price
    Simples!
    Chazz Michael Michaels wrote: »
    Yes, as the person you responded to said, the price is set at the equilibirum of supply and demand. Or less technically, what people are willing to pay versus what people are willing to sell for. Same as just about every other good, asset and service on the planet. Leaving cert economics. Simples.

    Oh God, stop saying 'simples', people!


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    #42
    Sea Filly
    Closed Accounts Posts: 1,213 ✭✭✭Sea Filly


    OP, do you absolutely need two bedrooms? If location is important, why not look for a one bed?


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    #43
    Monife
    Registered Users Posts: 3,014 ✭✭✭Monife


    Just to give you all an update. We viewed a lovely apartment last night for €950. They said they couldn't budge on that. We said we would phone them the next evening. Phoned them this evening and told them we loved the apartment but can't afford more than €900. They said they were impressed by us and really liked us and think good tenants are more important than price and agreed to €900 per month.

    Absolutely over the moon :)


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    #44
    Snakeblood
    Registered Users Posts: 4,466 ✭✭✭Snakeblood


    Monife wrote: »
    Just to give you all an update. We viewed a lovely apartment last night for €950. They said they couldn't budge on that. We said we would phone them the next evening. Phoned them this evening and told them we loved the apartment but can't afford more than €900. They said they were impressed by us and really liked us and think good tenants are more important than price and agreed to €900 per month.

    Absolutely over the moon :)

    Time to change the thread title! Congrats!


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    #45
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Monife wrote: »

    ...Most rents are starting from €900 upwards. Have viewed a few places.

    One place was listed at €900 and the guy said there is absolutely no budging on that. Another 2 places were listed as €920 and they said their rock bottom price would be €900, wtf a measly €20 discount! And another we viewed for €950 said there was no budging on that and that there are others interested so it will definitely go for that.

    We both earn a low enough wage and if we were to rent somewhere for €900/950 it would be about a third of our joint earnings. The maximum we wanted to spend was €850 but it doesn't look like we'll get more than a box for that.
    Monife wrote: »
    Just to give you all an update. We viewed a lovely apartment last night for €950. They said they couldn't budge on that. We said we would phone them the next evening. Phoned them this evening and told them we loved the apartment but can't afford more than €900. They said they were impressed by us and really liked us and think good tenants are more important than price and agreed to €900 per month.

    Absolutely over the moon :)

    I'm just a little confused but oh well, enjoy your new home.


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    #46
    January
    Closed Accounts Posts: 23,862 ✭✭✭✭January


    Enjoy your new home OP :)


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    #47
    Monife
    Registered Users Posts: 3,014 ✭✭✭Monife


    athtrasna wrote: »
    I'm just a little confused but oh well, enjoy your new home.

    Oh I probably forgot to update that the other day we decided the max we could go was €900 because we realised we wouldn't get anything in Northwood for €850. :)


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    #48
    M three
    Registered Users Posts: 1,142 ✭✭✭M three


    Monife wrote: »
    Just to give you all an update. We viewed a lovely apartment last night for €950. They said they couldn't budge on that. We said we would phone them the next evening. Phoned them this evening and told them we loved the apartment but can't afford more than €900. They said they were impressed by us and really liked us and think good tenants are more important than price and agreed to €900 per month.

    Absolutely over the moon :)

    Well done.
    When your lease is up, hopefully you'll have gotten to know the owner by then. Then you could rent directly from him, could save you another 50 euro per month or whatever the letting agents fees are.


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    #49
    Monife
    Registered Users Posts: 3,014 ✭✭✭Monife


    M three wrote: »
    Well done.
    When your lease is up, hopefully you'll have gotten to know the owner by then. Then you could rent directly from him, could save you another 50 euro per month or whatever the letting agents fees are.

    We will be renting directly from a landlord :)


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