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Asking rents - stubborn?!

  • 04-09-2009 01:07PM
    #1
    Theboinkmaster
    Registered Users, Registered Users 2 Posts: 4,161 ✭✭✭


    I've been looking to rent a 2 bed apartment recently but landlords seem to be very stubborn, even when the basic maths does not add up.

    For example a letting agent had the apartment asking on DAFT for €1,100 (in line with other asking prices) and I offer €1,000 (and will sign a 1 year lease) but say I can move in immediately. Letting agent corresponds with landlord who then says no they want €1,100 and proceeds to leave the property on the market.....

    Even through the apartment has been vacent already for 4 weeks and likely to be for at least another 4 they won't accept a €100 reduction.

    This just seems mad to me and does not make any economic sense...

    Are many others finding this? Don't really mind as every month I wait rents seem to be dropping, it just gets very frustrating :confused:


Comments

  • #2
    Jumpy
    Registered Users, Registered Users 2 Posts: 7,606 ✭✭✭Jumpy


    Same thing happened to me a good while ago. I went direct through the landlord and the prices dropped by 300 a month.
    Chances are that the estate agents arent even talking to the landlord.


  • #3
    Theboinkmaster
    Registered Users, Registered Users 2 Posts: 4,161 ✭✭✭Theboinkmaster


    What way are letting agents paid? Surely it's better for them the apartment is occupied and they're getting some money in?


  • #4
    D3PO
    Registered Users, Registered Users 2 Posts: 7,879 ✭✭✭D3PO


    There entitled to charge what they want and your entitled to either accept or refuse that.

    If they fill the apartment for the asking price within the next 7 weeks how does it make no economic sense ? Its called taking a position people do it on the stock market all the time.

    Some times they make money out of it other times they dont but thats their perogitive.


  • #5
    Sarn
    Registered Users, Registered Users 2 Posts: 3,152 ✭✭✭Sarn


    What I don't understand are the places that have not shifted after a month that then go on to increase their prices (higher than those in the area). The rationale must be the expectation that people will put in a lower offer so that will enable them to achieve their price , but when the price is already higher than the market rates...

    While the landlord is entitled to charge what they want, sacrificing €1200 for a quick rent (with good tenants) versus €2200/3300 for the possibility of shifting it in 2 months or longer (if it is not priced competitively) would be mad.


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