Haggling

brianthebard

Given the way the housing market has gone in the last year, the drop in rent prices (apparently) and everything else, is there any room for haggling on the price of rent or is that just not done? thanks.

drunkmonkey

You should haggle for everthing.....

I'm sure there's plenty of room for movement on house prices.....be cheeky, the worst they can say is no.....

If i'm spending more than a €100 in a clothes shop I will look for some kind of discount or i'll gladly put the clothes back on the shelf and walk down to the next store...

Never be afraid to haggle for anything.....It's your god given right as a consumer!!!

whiskeyman

Haggle, but do it within reason.
No point haggling for something that's in high demand - more than likely the seller will get somone who'll pay the asking price.

For rent, you'll know yourself how long it's been on the market, and if demand would be high.
If it's just over your budget, it's worth asking if they'd take €x pm - put that figure as below, then perhaps negociate to back at the budget mark if needs be.
Also, when renting, be sure to inlcude all the mod cons etc... If a kettle / toaster etc.. isn't there, say you'd want them there and they'll more than likely listen.

Good luck!

Colonel Sanders

brianthebard wrote: »

Given the way the housing market has gone in the last year, the drop in rent prices (apparently) and everything else, is there any room for haggling on the price of rent or is that just not done? thanks.

Do your research and your bargaining power will increase. This site tracks price increases/decreases in the rental market. If you want to rent a property that has been on daft or where ever for a long time don't be afraid to explain to the landlord that knocking €100 off the rent will cost him €1200 a year but another void month will cost him however much the monthly rent is

worded

Im going to do just that.

Im saying I will offer you x -100 or 200 say per month but give you 3 mths up front.

More people should be making offers as the market collapses, get the fecker used to the idea it’s a RENTERS market now,
Yipee!

There are 10000s of places up for rent at the moment. (some new Dublin blocks are completely empty as we speak!)
Even email the people and state your case.

Agents may not reply as they get paid eventually and keep place for months on their books as they are not out of pocket for this. (they have to work harder now to shift places)
Landlords may be quicker to take your hand off, at this time of year especially.
Theres so little demand and their mortgages have to be paid. I was screwed last year for 150 euro increase! This year Im throwing him back the keys after 5 years in the same place for doing that. Tide has turned.

Go for it, particularly for a place that needs some decoration done it.

worded

Check this:

Rental Report # 11 - 869 reductions, 98 increases
2008-06-11 08:16:14
From the 5th to the 11th of June 2008 there were 869 rent reductions. The average reduction was €102 per month.
There were 98 rent increases over the same period, the average increase was €177.
The number of properties for rent in Ireland increased to 13,662 from 13,283 the previous week.

Please click here for the full report.

18% (2,514) properties currently for rent have been on the market for more than 11 weeks
49% (6,717) properties currently for rent have been on the market for more than 1 month.

Again this week the properties with lower rent were let first.
2,347 properties were let in the last week and the average rent was €1,152.
While the average rent for the properties that remained on the market was 6% higher at €1,226 per month.

worded

Stats on renting / buying

http://www.irishpropertywatch.com/


e.g.

Ballsbridge rent Was 2400 now 1700 ! - and on the market 1 mth

http://www.irishpropertywatch.com/viewRentalsPropertyHistory.php?Ext_ID=555374&Site=daft

brianthebard

thats fantastic stuff lads keep the info coming.obv. i'm on my phone now but will check all links in due course.regards empty apartment blocks there at least two in sligo and i'm sure there are some in galway(where im headed)i expect i might find it hard to get a price lowered if i want to be near the uni but given the large oversupply there mite be hope
Posted via Mobile Device

worded

www is a great thing. Overpriced accom crashing is too.

Let us know what happens.

ivorygal

I'm looking to rent at the moment and feel haggling might be worth a try but I'm desperate at that sort of thing.

I was looking at a two bedroomed place with a friend. It's 1550 a month, how much do you think would be a good amount to offer. Plus it's a letting company, are they less likely to take notice of me?

Ste.phen

Depends on how long it's been on the market
If it's 1150 a month they're asking, every month they have it empty costs them an extra 95 quid a month, so dented pride aside, they'd be better off over the course of a year lowering the rent by 100 a month than letting it sit idle a month

worded

+1

They are hired by the owner to let it and if the fee is unrealistic they cant.
They in turn will explain to the owner that the fee needs to be dropped to help them let it.

If there has been little interest and you put in an offer, they will relay it to the owners.

If you say -200 they may say -100 and meet you in the middle. Cant see much of a problem of getting 50 off anyway. Give it a shot and let us know what happens.

.. Say I prefer your place but there are a lot more reasonable and rents dropping all over the country. Try state your case without being smart about it. "Im looking at a few places ..." etc Dont be afraid to haggle - they wont bite!

I spoke to one landlord and they said “oh we just put the place on the market to see what the reaction was in the current down turn, its not available til next month”

Also – landlords listing their properties for rent allowance has hugely increased. Before a lot didn’t want to know.

Renters market – go for it.

cormie

Has anyone successfully knocked money off what they already are paying? I'm in Dun L and getting quite a good price I reckon. They could probably get about 50% more than what I'm paying, it's stayed at the same price for the past 6 years or so, I'm only here 1 and a bit, but I knew the people here before me.

worded

cormie wrote: »

Has anyone successfully knocked money off what they already are paying? I'm in Dun L and getting quite a good price I reckon. They could probably get about 50% more than what I'm paying, it's stayed at the same price for the past 6 years or so, I'm only here 1 and a bit, but I knew the people here before me.

We all need landlords like yours! Great to hear there are normal people around.
Our hungry bastard hiked ours by 150 euros last year. Cost us a holiday.
Heres to haggling and a better life for everyone.

ivorygal

Thanks for the advice.

I gave it a go, as you say I've nothing to lose and everything to gain.

The property is 1550 and I told them my budget is 1400 - so we'll see how I get on. I have a feeling that the rent on this property has already been reduced though because I saw a similar property on daft that leased last month for 1750 - so I'll be very lucky if they come back to me at all!

worded

ivorygal wrote: »

Thanks for the advice.

I gave it a go, as you say I've nothing to lose and everything to gain.

The property is 1550 and I told them my budget is 1400 - so we'll see how I get on. I have a feeling that the rent on this property has already been reduced though because I saw a similar property on daft that leased last month for 1750 - so I'll be very lucky if they come back to me at all!

If you can move in tomorrow would be a bonus.

The more people that make offers the better, gets the industry used to the idea that its a renters market.

A pall who has rented all over the world always offers less he says and gets the discount. Has saved a bundle.

ivorygal

Just to update you:I was told that the asking price for this property is €1550 and the landlord would like to accept no less than this at this current time!

Oh well, it's worth trying these things

cormie

ivorygal wrote: »

Just to update you:I was told that the asking price for this property is €1550 and the landlord would like to accept no less than this at this current time!

Oh well, it's worth trying these things

That's an invitation to negotiate

worded

ivorygal wrote: »

Just to update you:I was told that the asking price for this property is €1550 and the landlord would like to accept no less than this at this current time!

Oh well, it's worth trying these things

He will take 1500 if you wave it in his face which is 50 x 12 = 600 per year saved.
If you can get 2/3 months rent together + mth deposit Id ofer 70 - 100 less PM.
Careful how you pay that to him (not cash)

7% + unemployment by the end of year
20K emigration predicted.

Tat rent next year will be circa 200 euros less.
This is a bad time of year (summerish) for him to have it on the market.

Haggle!

gollem_1975

thanks for the advice so far guys.

in terms of haggling when should the rent amount be mentioned.

should the rent amount be mentioned when you ring up to make the appointment to see the place or should you wait and see the apartment and if you like it then make an offer ?

have the days of queuing to see a place well and truely gone ?

worded

gollem_1975 wrote: »

thanks for the advice so far guys.

in terms of haggling when should the rent amount be mentioned.

should the rent amount be mentioned when you ring up to make the appointment to see the place or should you wait and see the apartment and if you like it then make an offer ?

have the days of queuing to see a place well and truely gone ?

If you are looking at a palce in Dalkey probably not.

Points on you side:

1) It mid summer the market is slow - economic outlook gloomy

2) Massive over supply / people leaving the country. unemployment due to rise.

3) Every month not rented is $ lost to the land lord.

4) you have a massive choice of places now. No better time to be looking.

- I think meet the person / see the place and then look like the best possible canditate. (Its not that you are skint, its that everyone is making offers and theres so many palces to choose from :-) If possible offer 2/3 months up front if you can.

Land lords are nervous now.

And should be - offer less or sit back as prices are going down.

Sweet news - ref
http://www.irishpropertywatch.com/


15% (2,133) properties currently for rent have been on the market for more than 3 months. The average rent of these properties (€1,383) 12% above the average rent of all other properties listed (€1,230).

48% (6,831) properties currently for rent have been on the market for more than 1 month.


2,574 properties were let in the last week and the average rent was €1,132.
While the average rent for the properties that remained on the market was 8.6% higher at €1,230 per month.

skooterblue

brianthebard wrote: »

Is there any room for haggling on the price of rent or is that just not done? thanks.

I am being over charged for my rent by a well known letting agent €333 pm(realistic price should be 280pm). For sharing with 5 others in Cork. Some guy went and asked for €300 last month and they would have taken his hand off given half the chance.

Whatever you think the realistic value is minus 10% and start bargining from there. drop a few phrases:
"I 've other properties to see"
"Is THAT the best you can do?"
If the deal is less than the agent is willing to give ".... and that includes a new bed/paint job/ etc"

Renter market now guy ..... Roll on Sept for me!