Renting a room in Galway

Glenman

Has the cost of renting a room in Galway come down? Generally the cost of a double room in a nice new house on the outskirts of Galway city was 300 euro per month. I am paying 325 euro for a room in a nice house in the terryland area. I moved in about a year ago and I suppose it was a bit pricey then. My landlords mortage has come down a lot since then due to decreasing interest rates. Would I be entitled to ask him for a reduction in rent due to the reduction in mortages?

snubbleste

Glenman wrote: »

Has the cost of renting a room in Galway come down? Generally the cost of a double room in a nice new house on the outskirts of Galway city was 300 euro per month. I am paying 325 euro for a room in a nice house in the terryland area. I moved in about a year ago and I suppose it was a bit pricey then. My landlords mortage has come down a lot since then due to decreasing interest rates. Would I be entitled to ask him for a reduction in rent due to the reduction in mortages?

Rents seem to be extremely sticky in galway, some have come down but the majority have not..yet
Ask for a reduction in rent or move!

How do you know your landlord's mortgage has decreased? Most lenders are not passing on the cuts to the BTL brigade.

Glenman

snubbleste wrote: »

Rents seem to be extremely sticky in galway, some have come down but the majority have not..yet
Ask for a reduction in rent or move!

How do you know your landlord's mortgage has decreased? Most lenders are not passing on the cuts to the BTL brigade.

Oh...I don't know...I assumed that all mortages had come down.

Black_Knight

Did you sign a contract? If you did theres not much you can do, and if I were a landlord and I was asked if I would reduce my rent for a current tenant, id probably say no.
Someone is always going to be willing to pay €325 in Terryland.

cornbb

I would say rents are definitely on the decrease. If they are not now, they should be soon. I recently left a house, no-one would take the room for many weeks so the landlady dropped the rent by about 20%. Very sensible move on her part.

If you cannot get a reduction on your rent I would recommend shopping around, its possible to get a bargain maybe

snubbleste

Has anyone else had experience of rents falling?
What's the average price of a room in the centre and the suburbs now?

gaeilgegrinds

I'm a landlady and live with my tenants, I usually ask what people expect to pay and have yet to come across anyone who said a price LOWER than mine, so people obviously expect to still pay roughly the same. That said I have significantly reduced my rent.
Regarding the mortgage...that's the landlords business, to be honest most people I know are on fixed and said I was foolish to go for variable to might well not be the case that it came down at all.

cooperguy

My landlord text me out of the blue last week and gave me a 10% discount Prices are definatly on the way down. I was thinking about asking for a reduction but no need now!

bigeasyeah

Haggle with them over prices.If you see the same property being advertised for a few weeks,target them.