Getting a rent reduction

jamieh

Hi all,

Three friends and I are renting a house and the lease is up in September.

We would love to stay there next year as the location is perfect and it's a lovely house.

However, at the mo we're paying 700 each (2800 in total).

Given the way things are, when we are in negotiations with the landlord what would be regarded as a reasonable rent reduction?

Cathmandooo

Wow that seems pricey.

Are there any houses similar in the area up for rent on daft? Check out how much they're looking for first. But bear in mind what they're looking for isn't always what they'd get for it.

I'd knock a couple of hundred at least off what the average in the area seems to be and start from there with negotiations.

You're in a good bargaining position, if ye left I doubt the landlord would find any tenants willing to pay anywhere near that much at the moment.

SoupyNorman

That is officially the luckiest landlord in the country. Does that rent include your bills???

I mean, regardless of getting a rent reduction you could easily rent your own apartment for €700 pm, or if you want to live with the same folk then there are many many houses from €1200-€1500.

In my opinion there is huge scope for rent reduction.


And also, what makes the house worth €2800?

jamieh

Hey,

It's in Dublin 4, so property around there is obviously quite pricey.

House is brand new - no expense spared on fittings\interior, etc.

It's an ideal location for us as we can walk to work everyday in 10-15 mins.

Anyway, so if we asked for a reduction down to 2500 a month would that seem reasonable?

JamBur

Looking on Daft it seems that their is a lot of 4 bed houses in D4 for about €1500, they seem spacious and extremely well spec'ed. €2800 is ridiculous, the landlord has been kept in a dreamland by tenants such as you.

I'd low-ball him an offer about 1400 and then work from there, even at that I'd still be looking around at other potential houses. You could save 300 a month each with little or no effort. Don't let inertia keep you in the current house!

SoupyNorman

jamieh wrote: »

Hey,

It's in Dublin 4, so property around there is obviously quite pricey.

House is brand new - no expense spared on fittings\interior, etc.

It's an ideal location for us as we can walk to work everyday in 10-15 mins.

Anyway, so if we asked for a reduction down to 2500 a month would that seem reasonable?

Thats fair enough and if you want to continue to live there then all the power in the world to you. I'd say you'll be well able to get the rent down, one way would be to find a similar house in the area and show the LL evidence of what the market rate is.

If you want to be kinder to your wallet then I'd say look (or at least consider) other properties. The renter is currently in power, if the rent is currently €2800 then theres no way the LL would go for an offer of €1400 as suggested. For me I'd say reduce the rent to 2300-2400 or you're gone.

syklops

I used to live in D4. When I moved in the 4 of us were paying 2200(nearly 5 years ago). Last Feb we tried to get a reduction but the agent wouldnt budge under 1900. We took it, but ended up moving out in June. When we were negotiating, we were trying to get it down to about 1600/1700, and the agent kept saying, "Oh no, with this location we could get someone tomorrow who would pay 1900". We moved out in June 09. Its still empty and they are still asking for 1900. Some landlords and agents are living in cloud cuckoo land.

OP shop around, find a similar house nearby and see what the rent is. 2800 at this time seems like a massive amount.

H8GHOTI

You might find this report from Daft interesting. I just seen it linked in another thread. There's a snapshot of rents down the bottom & D4 is listed as €2563.
As everyone else has said, look around. €2800 sounds crazy & €700 each is a lot, especially if there are similar houses around for nearly half.

yogy

Sorry but if you are (insert appropriate adjective here) enough to pay 700e ANYWHERE (apart from the penthouses at the 4 Seasons etc.) in this country for a room in a house then you deserve to be shafted by the LL!

who_ru

yogy wrote: »

Sorry but if you are (insert appropriate adjective here) enough to pay 700e ANYWHERE (apart from the penthouses at the 4 Seasons etc.) in this country for a room in a house then you deserve to be shafted by the LL!

decide in haste repent at leisure

Doop

yogy wrote: »

Sorry but if you are (insert appropriate adjective here) enough to pay 700e ANYWHERE (apart from the penthouses at the 4 Seasons etc.) in this country for a room in a house then you deserve to be shafted by the LL!

Seriously? .... pretty helpful stuff...

This fourm has really gone to the dogs recently... Anyone thinking of buying... que responses "you're an idiot to be buying now, bla bla bla"
Wait till prices go down another 50% etc etc, wtf???

/*rant*

Back on topic...

Op you should defo get some kind of reduction, its happening everywhere.
You'd want at least 100-150 (for each of you). So if you want a 600euro reduction, offer them 2000, and try settle around the 2200 mark.

Remember if you guys were to move out, it may take a month easy to get new tenants, that leaves the LL down 2800, it often marks more sense for the LL to keep you guys on at a reduced rent.... problem is they dont always see it this way.

Let us know how you get on

jamieh

Doop wrote: »

Seriously? .... pretty helpful stuff...

This fourm has really gone to the dogs recently... Anyone thinking of buying... que responses "you're an idiot to be buying now, bla bla bla"
Wait till prices go down another 50% etc etc, wtf???

/*rant*

Back on topic...

Op you should defo get some kind of reduction, its happening everywhere.
You'd want at least 100-150 (for each of you). So if you want a 600euro reduction, offer them 2000, and try settle around the 2200 mark.

Remember if you guys were to move out, it may take a month easy to get new tenants, that leaves the LL down 2800, it often marks more sense for the LL to keep you guys on at a reduced rent.... problem is they dont always see it this way.

Let us know how you get on

Cheers all for the sound advice.

I'll let ye know how I get on.

yogy

Doop wrote: »

Seriously? .... pretty helpful stuff...

This fourm has really gone to the dogs recently... Anyone thinking of buying... que responses "you're an idiot to be buying now, bla bla bla"
Wait till prices go down another 50% etc etc, wtf???

Totally agree..

Idbatterim

I suppose the main question is, how much is E700 per month to you? We dont know your salary, other outgoings etc, are you saving for a place of your own etc etc etc. There are several nice 3 double bed properties in D4 on daft, looking for 1500 and 1600 which you would get down to 1400! i.e half the price your paying now. Id hazard a guess that the landlord has borrowed up to the hilt, well thats his problem not yours, I dont know what kind of a place it is, but by the sounds of it, if you guys move out, hes going to be taking a big hit, bear that in mind when negotiating, and remember, the way things are now, your the one calling the shots!

Doop

yogy wrote: »

Totally agree..

Being facetious ...?

*fail

antoinolachtnai

It really depends on the quality of the property. There is a vast range of property in that area. For sure not every four-bed in Dublin 4 is worth 2800 a month, but some of them actually are.

rightwingdub

I'd be haggling him for €1500 per month see how he reacts, €2800 is a lot of money, my lease is up at the end of August, I'm living with two others with one empty room and if the landlord tries to get all of us to chip in for the empty we'll be moving.

Idbatterim

The Op says 3 of them are paying E700 each = 2100 but then goes onto say that they are paying E2800. Can you clarify op?

Cathmandooo

Idbatterim wrote: »

The Op says 3 of them are paying E700 each = 2100 but then goes onto say that they are paying E2800. Can you clarify op?

op says him plus 3 friends, ie 4 people at 700 each = 2800