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Are we in a position to Negogiate Rent?

  • 18-09-2008 6:25pm
    #1
    Show_me_Safety
    Closed Accounts Posts: 280 ✭✭


    Hi,

    Three of us are currently renting out a 2bed/2 bathroom duplex apartment on Hanover quay. we pay 1800 a month.
    Given the way rents have been going, to you think it is likely to get a reduction in the amount we pay when our lease is renewed in October?
    Similar apartments in the area, and same building are from 1650-1800- many have a car parking space/separate kitchen/ better view etc.
    It would be possible for us to stay in the area, pay the same rent and get more space for our money, although we would prefer to stay put.
    We would like to take it down to 1650. that may sound alot, but apartments in our apartments which are higher spec and cheaper can still take 4-6 weeks to rent out. my logic is if the landlord says no and we leave, the 1800 in rent she loses out on in the month the property is vacated would be equal or greater to the decrease we would be looking for.

    What are your thoughts/opinions on this?

    Thanks a million
    SMS


Comments

  • #2
    pwd
    Closed Accounts Posts: 5,284 ✭✭✭pwd


    I think you should negotiate the rent and I think you should be ready to leave if they aren't agreeable.
    Landlords have no problem changing rent in their favour when the market lets them, so tenants should do the same.


  • #3
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Yeah- go for it.
    If you can get similar or even better locally for less- its just common sense to try to either renegotiate downwards, or bite the bullet and move. 1800 for a 2 bed is a hell of a lot of money to be paying.......


  • #4
    Show_me_Safety
    Closed Accounts Posts: 280 ✭✭Show_me_Safety


    Thanks lads.

    the rent is split between 3, 600 each. neither of us are paying more than 25% of our after tax monthly income on it. plus, with three of us working in 3 different locations the area we are in now is ideal!


  • #5
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    Go for it, try to get plently of backup for your case. Go onto daft and print off similar apartments with the price you mentioned and if they have extras highlight this.

    The sums add up nicely.
    If you get to €1650 the landlord gets happy tenants for €1800 less a year. If they are stubborn and won't budge and you move out it could take weeks and months to get replacement tenants so they will lose out. And even then, the replacement tenants might not be reliable or nobody will pay €1800 per month.

    Maybe remind them of this, in a nice way of course :)


  • #6
    Show_me_Safety
    Closed Accounts Posts: 280 ✭✭Show_me_Safety


    Thanks for the replies, i'm goig to ask for a reduction based on this information:

    2 Bed apartment for 1600
    http://www.daft.ie/searchrental.daft?search=Search+%BB&s[cc_id]=ct1&s[a_id][0]=pc2&s[mnp]=&s[mxp]=&s[bd_no]=&s[pt_id]=&s[move_in_date]=0&s[lease]=&s[furn]=0&s[search_type]=rental&s[transport]=&s[advanced]=&s[price_per_room]=&s[refreshmap]=1&offset=160&limit=10&id=604616

    2 bed for 1650
    http://www.daft.ie/searchrental.daft?search=Search+%BB&s[cc_id]=ct1&s[a_id][0]=pc2&s[mnp]=&s[mxp]=&s[bd_no]=&s[pt_id]=&s[move_in_date]=0&s[lease]=&s[furn]=0&s[search_type]=rental&s[transport]=&s[advanced]=&s[price_per_room]=&s[refreshmap]=1&offset=160&limit=10&id=611314

    and finally (most importantly) properties take an average of 44 days to rent:
    http://www.irishpropertywatch.com/viewPost.php?Post_ID=119

    Sorry about the long links btw!

    SmS


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