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Monife · 22-07-2012, 21:53

Lease is up at the end of August and we have decided we want to move closer to hubby's work as he has no car (and I do). I work in Swords and he works in Santry. We are ideally looking to rent a 2 bed in Northwood as that is walking distance for him (and he does shift work). 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.

It just sickens me that the same apartments in Northwood have an asking price of €125,000-€175,000, so if we had the money for a deposit, we would have a mortgage paid off in around 15 or 20 years if we were paying it back at €950/month.

Has anyone else experience in haggling rents? What are other areas like for haggling? And why are rents still so high and why is there basically no wiggle room at all?

fasttalkerchat · 22-07-2012, 22:20

If you make €2,700 per month between you you wouldn't get a mortgage. Are both of you from Dublin originally? Its impossible to have a decent home for that money there.

athtrasna · 22-07-2012, 22:24

A lot of landlords seem to be advertising their bottom line rent in order to get viewings. They could add €50 to the advertised price with a view to taking it off in negotiations but that wouldn't get them so many enquiries. It's a toughie on both sides, but there shouldn't be an automatic assumption that rents are negotiable.

UDP · 22-07-2012, 22:24

Rents in Dublin haven't really come down in the last year and there is still a large pool of renters out there.

miller50841 · 22-07-2012, 22:29

The rental market is crazy here the demand to rent has risen which means the prices follow suit.

Some of the dumps they charge big money on.
I got caught out in my last place was the same as living in a shed drafts, mould and huge problems.

If the rent allowance scam was stopped rents would come down but that would hurt too many politicians and their friends so don't think will ever happen unless IMF steps in.

Best of luck in getting somewhere

nibtrix · 22-07-2012, 22:31

Quote:

Originally Posted by Monife

It just sickens me that the same apartments in Northwood have an asking price of €125,000-€175,000, so if we had the money for a deposit, we would have a mortgage paid off in around 15 or 20 years if we were paying it back at €950/month.

Has anyone else experience in haggling rents? What are other areas like for haggling? And why are rents still so high and why is there basically no wiggle room at all?

Just because the asking price is low now doesn't mean it was low a few years ago when the owners bought them. They may have a mortgage of €950 pm or even more and can't drop the price. There are plenty of renters out there at the moment and probably they'll get their €950 quickly enough.

Monife · 22-07-2012, 22:41

Quote:

Originally Posted by nibtrix

Just because the asking price is low now doesn't mean it was low a few years ago when the owners bought them. They may have a mortgage of €950 pm or even more and can't drop the price.

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.

miller50841 · 22-07-2012, 22:43

Quote:

Originally Posted by Monife

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.

They are ment to fall in line with the current market price of that particular area and property size.

But honestly way too high

athtrasna · 22-07-2012, 22:52

Quote:

Originally Posted by Monife

That is not really my problem.

But your income is the problem of the potential landlord? If they set a rent and can get someone to pay it, then formulas don't matter. You said yourself that most rents start from €900 so it would indicate that €900 is at the lower end of the market in that area, yet you only want to pay €850??

The apartments in Northwood offer convenience for companies in the industrial estate & retail park (which is one of the bigger combined ones in the Dublin area) as well as Ikea and the M50. There is going to be a premium on rents there compared to less convenient locations.

war_child · 22-07-2012, 23:00

If i were you i would consider a house share with a weekend tenant, take on a house, would work out cheaper than the high price SO CALLED apartments go fornow adays...plus if u take on someone unemployed your garanteed the rent instead of takin on an employed person ..just a fact now

Ive just made the move with my partner to a 3 bedroom house in waterford for 550 a month , so der is accomodation out der u just have to keep ur eyes open ...

Good look with your search i hope u get what ur looking for

borderlinemeath · 22-07-2012, 23:34

I have a rental property that I just let out last week and I put it on daft at the market value, ie I looked at other properties in the area and priced it accordingly. I am lucky enough to be in the position that the price I looked for is more than the mortgage and the tax return but the same can't be said for all landlords. If the monthly outgoing is higher than the rental income the majority of landlords in that position would try and get the best price for the property and more than likely not budge on the price.

I suppose if I didn't have a good response I would have been open to some negotiation but the phone never stopped ringing and I took it off daft after less than 24hrs and I had the pick of tenants. (and no, I didn't ask for more than the asking price

)

kdowling · 23-07-2012, 00:01

Quote:

Originally Posted by Monife

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.

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!

fasttalkerchat · 23-07-2012, 00:28

Quote:

Originally Posted by kdowling

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!

It's not quite that simple. If I'm struggling to find a three bedroom house in Belfast I won't decide to pay €2,000 for a 1 bedroom flat in Galway.
It depends on demand for a certain area, size, furnished/unfirnished etc. Then there is the relate costs of living 10 km down the road etc.

Chazz Michael Michaels · 23-07-2012, 00:37

Quote:

Originally Posted by fasttalkerchat

Quote:

Originally Posted by kdowling

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!

It's not quite that simple. If I'm struggling to find a three bedroom house in Belfast I won't decide to pay €2,000 for a 1 bedroom flat in Galway.
It depends on demand for a certain area, size, furnished/unfirnished etc. Then there is the relate costs of living 10 km down the road etc.

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.

ceadaoin. · 23-07-2012, 09:44

We managed to knock 300 euros off the monthly rent by signing a 2 year lease instead of one for a year. Got a beautiful house in a great area at a bargain price I think. A house the exact same as ours came up for rent recently in the same development for 1000 euro more a month than what we pay so delighted with what we got!

The agents for most of the other places we viewed said that a longer lease would help the landlord to be more open to negotiation. Could this be an option for you?

22-07-2012, 21:53	#1
Monife Registered User Join Date: Nov 2010 Location: Dublin Posts: 1,540 Adverts \| Friends	Rents are basically non-negotiable! Lease is up at the end of August and we have decided we want to move closer to hubby's work as he has no car (and I do). I work in Swords and he works in Santry. We are ideally looking to rent a 2 bed in Northwood as that is walking distance for him (and he does shift work). 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. It just sickens me that the same apartments in Northwood have an asking price of €125,000-€175,000, so if we had the money for a deposit, we would have a mortgage paid off in around 15 or 20 years if we were paying it back at €950/month. Has anyone else experience in haggling rents? What are other areas like for haggling? And why are rents still so high and why is there basically no wiggle room at all? Last edited by Monife; 22-07-2012 at 21:56. Reason: Spelling

22-07-2012, 23:34	#11
borderlinemeath Registered User Join Date: Feb 2009 Posts: 2,384 Adverts \| Friends	I have a rental property that I just let out last week and I put it on daft at the market value, ie I looked at other properties in the area and priced it accordingly. I am lucky enough to be in the position that the price I looked for is more than the mortgage and the tax return but the same can't be said for all landlords. If the monthly outgoing is higher than the rental income the majority of landlords in that position would try and get the best price for the property and more than likely not budge on the price. I suppose if I didn't have a good response I would have been open to some negotiation but the phone never stopped ringing and I took it off daft after less than 24hrs and I had the pick of tenants. (and no, I didn't ask for more than the asking price)

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22-07-2012, 22:20	#2
fasttalkerchat Registered User Join Date: Aug 2010 Posts: 5,386 Adverts \| Friends	If you make €2,700 per month between you you wouldn't get a mortgage. Are both of you from Dublin originally? Its impossible to have a decent home for that money there.

22-07-2012, 22:24	#3
athtrasna Registered User Join Date: Jun 2005 Posts: 3,374 Adverts \| Friends	A lot of landlords seem to be advertising their bottom line rent in order to get viewings. They could add €50 to the advertised price with a view to taking it off in negotiations but that wouldn't get them so many enquiries. It's a toughie on both sides, but there shouldn't be an automatic assumption that rents are negotiable.

22-07-2012, 22:24	#4
UDP Registered User Join Date: Aug 2011 Posts: 929 Adverts \| Friends	Rents in Dublin haven't really come down in the last year and there is still a large pool of renters out there.

22-07-2012, 22:29	#5
miller50841 Registered User Join Date: Jan 2012 Location: Dublin Posts: 1,167 Adverts \| Friends	The rental market is crazy here the demand to rent has risen which means the prices follow suit. Some of the dumps they charge big money on. I got caught out in my last place was the same as living in a shed drafts, mould and huge problems. If the rent allowance scam was stopped rents would come down but that would hurt too many politicians and their friends so don't think will ever happen unless IMF steps in. Best of luck in getting somewhere

22-07-2012, 23:00	#10
war_child Registered User Join Date: Apr 2011 Location: Dublins Long Lost Son Posts: 447 Adverts \| Friends	If i were you i would consider a house share with a weekend tenant, take on a house, would work out cheaper than the high price SO CALLED apartments go fornow adays...plus if u take on someone unemployed your garanteed the rent instead of takin on an employed person ..just a fact now Ive just made the move with my partner to a 3 bedroom house in waterford for 550 a month , so der is accomodation out der u just have to keep ur eyes open ... Good look with your search i hope u get what ur looking for

23-07-2012, 09:44	#15
ceadaoin. Registered User Join Date: Feb 2010 Posts: 528 Adverts \| Friends	We managed to knock 300 euros off the monthly rent by signing a 2 year lease instead of one for a year. Got a beautiful house in a great area at a bargain price I think. A house the exact same as ours came up for rent recently in the same development for 1000 euro more a month than what we pay so delighted with what we got! The agents for most of the other places we viewed said that a longer lease would help the landlord to be more open to negotiation. Could this be an option for you?