Rent Reduction Strategy

LightningBolt

Currently looking at rentals in a new area that command a high enough average rent for a two bed apartment.

We're looking at a couple that are priced above average (100-150 above) as they tend to be slightly nicer in terms of space, size of second room and furnishings.

For the landlords on here would an offer to take a two year signed lease be enough to secure a 100-150 reduction (1400/1450 starting price). 1300 is the max we're looking to pay but stock isn't of great quality for the most part at that price point. Maybe an offer to pay a fixed number of months rent in advance might be more favourable? If any tenants have made similar propositions would they also mind sharing?

Good tenants with references on hand with jobs that are secure (lucky I know).

Thanks.

quietsailor

LightningBolt wrote: »

Currently looking at rentals in a new area that command a high enough average rent for a two bed apartment.

We're looking at a couple that are priced above average (100-150 above) as they tend to be slightly nicer in terms of space, size of second room and furnishings.

For the landlords on here would an offer to take a two year signed lease be enough to secure a 100-150 reduction (1400/1450 starting price). 1300 is the max we're looking to pay but stock isn't of great quality for the most part at that price point. Maybe an offer to pay a fixed number of months rent in advance might be more favourable? If any tenants have made similar propositions would they also mind sharing?

Good tenants with references on hand with jobs that are secure (lucky I know).

Thanks.

It'll depend if the area has a high rental rate - if it's easy for the LL to get people in then they might not want to tie themselves into a 2 yr lease, there is also the complication of the extended notice period that comes with a lease of over 2 yrs,

gaius c

I doubt the landlord would take it (with rents going up atm and the slightly irregular nature of the request) so don't push it too hard if you're really keen on the place and would take it on more usual terms.

odds_on

A two year lease is not really to the landlord's advantage as a tenant always has the option of assigning the lease at any time. There seem to be quite a number of tenants breaking leases in any case (and using the deposit as the last month's rent)

djimi

Yeah I dont really see too many advantages for a landlord to be tied into a two year lease. Its not that hard for a tenant to get out of a fixed term lease (be it legally or illegally) but its extremely difficult for a landlord (near on impossible) to break a lease. A longer fixed term doesnt really offer the landlord any more security in reality.

Ray Palmer

As a LL I see absolutely no advantage to taking somebody on like this. I can take somebody on at the current rate and in a year review the rent. That is likely to be higher than current rents.
There is no added security for reducing the rent there is only decreased revenue. Can't see any logical reason why anybody would want to do that