Negotiate with landlord?

irishbrain

My 12 month lease is coming to an end next month. I have yet to discuss renewing it with the landlord but I know from talking to them that they would like me to stay for a long time because I am a good tenant.

I am paying €600 per month for a one bed apartment. Would it be cheeky to offer €500 per month for a renewed 12 month contract? Or would they be happy with that for another 12 months bearing in mind the difficulty in obtaining tenants?

There is one other 1 bed on the main property website priced at €590 per month but I know from walking around the complex that a lot of apartments are vacant and have been for some time.

I would like to hear what you would do?

Victor

Explain that things are tight and that you would like to have the rent reviewed. Put something reasonable to them and allow tehm to come back a little.

So, don't offer €200 as they'll just laugh and if you really want €500, go a little under €500, so they can offer €500 and not lose face.

Diarmuid

irishbrain wrote: »

There is one other 1 bed on the main property website priced at €590 per month but I know from walking around the complex that a lot of apartments are vacant and have been for some time.

I would like to hear what you would do?

Well for starters. see for what price, you can get the other apartments in the complex ? Make appointments to see them, check out the price & condition and even make an offer for €500. Then you know where you stand.

Now you can go to your landlord ask him for a reduction, if he says no outright, then push him a bit harder. (ie tell him other places are available but don't get confrontational). Give him a few days to think about it before you deliver an ultimatum. If you were successful in step 1, now you can use this, if he still resists you can decide if the difference in the 2 apartments is worth the hassle/uncertainty in moving.

irishbrain

Thanks for the replies. I will try both of those ideas.

The way I look at it is this: A lot of the apartments have been empty for the year I have been here. If the landlord accepts my offer of €500, he will be losing €1200 rent for the year. But if he refuses, the apartment could be empty and he would lose €6k.

Cosidering he knows me and likes me, coupled with the fact that it is not certain he will get somebody else and even if he did they could be bad, I think €500 is a good deal.

Diarmuid

irishbrain wrote: »

The way I look at it is this: A lot of the apartments have been empty for the year I have been here. If the landlord accepts my offer of €500, he will be losing €1200 rent for the year. But if he refuses, the apartment could be empty and he would lose €6k.

You forgot the 3rd possibility, he refuses your offer, you don't move anyway and he loses nothing!

Lollymcd

irishbrain wrote: »

Thanks for the replies. I will try both of those ideas.

The way I look at it is this: A lot of the apartments have been empty for the year I have been here. If the landlord accepts my offer of €500, he will be losing €1200 rent for the year. But if he refuses, the apartment could be empty and he would lose €6k.

Cosidering he knows me and likes me, coupled with the fact that it is not certain he will get somebody else and even if he did they could be bad, I think €500 is a good deal.

If he refuses your offer and you move, he is unlikely to have the place filled within the month so he is down €600 already, another month and it's €1200, which is all he is going to lose if he gives you the reduction, it's more or less in his interest to give you some sort of reduction. He'll probably want to negotiate though, how high wil you go?

irishbrain

I won't negotiate. It's not in my personality to get involved with that. I will offer him €500 and if he doesn't accept, I will move home and look for a property for €500 per month.

Would I go through the hassle of moving even if the lowest he would go is €520? Yes, because I know that he knows he won't get a better tenant than me and that is the advantage I have now for always paying the rent on time, keeping the apartment immaculate and sticking to my contract for the year.

Lollymcd

Fair play, best of luck to you. I hope your landlord knows your worth. It's about time the power was with the tenant.

3DataModem

irishbrain wrote: »

I won't negotiate. It's not in my personality to get involved with that. I will offer him €500 and if he doesn't accept, I will move home and look for a property for €500 per month.

Good that you have a clear idea of what you want. I would advise viewing a few 500 pm apartments before making the ultimatum, so you can tell the L'Lord that that is a fair price.

I'm a landlord, and if a tenant came to me with evidence that the market price was 500 and asked for rent to be reduced I would agree on the condition that they stayed another 6 months at least.

happymondays

irishbrain wrote: »

I won't negotiate. It's not in my personality to get involved with that. I will offer him €500 and if he doesn't accept, I will move home and look for a property for €500 per month.

Would I go through the hassle of moving even if the lowest he would go is €520? Yes, because I know that he knows he won't get a better tenant than me and that is the advantage I have now for always paying the rent on time, keeping the apartment immaculate and sticking to my contract for the year.

you dont know he wont get a better tentant than you.
there's as many good tenants out there bad. he might say fine so on your bike and drop the rent to 550 and have the place full in a few weeks. Just remebered it works both ways. you can get bad landlords as well
as tenants. aslo the new neighbours could be a nightmare.

Moving house is a huge pain in the ass for the tenant and can cost you extra money. i.e Arrange time to go new places, have to pay up months rent and deposit beforehand. Pack and move all your stuff, clean the place, transfers all your untitily accounts/bank accounts/insurances etc. buy new stuff for the new place etc

Would i go through all that to save 20 euro a month, espically if i lived in an apt that i liked and got on well with the landlord. not a hope in hell.

by all means try to bargain down the rent but dont cut your loses if he dosent give you all reduction you want.

G86

What's the apt like that you're in? Is it modern/in good nick etc. ? I ask because I've looked at a few one beds and the average price at the mo for a decent place within is about €600/700 for anywhere near town - and by that I mean within 30mins walking distance. I've mailed a few places advertised at €700 asking if they're accepting offers but I haven't seen anywhere advertised under €600 that wasn't a matchbox.