Decided to Rent

RadiantGirl

Hi All

So after much deliberation I have decided to rent for a year or so instead of rushing to buy.

As a first time renter, I have a question, which may be a bit stupid but hopefully you can give me some answers.

I have found that the majority of 2 bed apartments are going for €800+ in and around the areas I would like to rent.

My question, is the rental market the same as buyers market. Can you negotiate the price. I have seen a lovely apartment, close to work, friends etc which is €850, my limit is €750.

Your advice & replies are greatly appreciated.

RG x

Snakeblood

RadiantGirl wrote: »

Hi All

So after much deliberation I have decided to rent for a year or so instead of rushing to buy.

As a first time renter, I have a question, which may be a bit stupid but hopefully you can give me some answers.

I have found that the majority of 2 bed apartments are going for €800+ in and around the areas I would like to rent.

My question, is the rental market the same as buyers market. Can you negotiate the price. I have seen a lovely apartment, close to work, friends etc which is €850, my limit is €750.

Your advice & replies are greatly appreciated.

RG x

You can try, but there may be a problem depending on location. Social welfare recipients may be able to pay more than you due to rent allowance. If a landlord can get more that way, they may well do so. Although some landlords like people with jobs.

rcdk1

No harm in trying but if, as you say, the rent for similar apartments are consitently €800+ then I reckon there's little chance of the rent being dropped by €100. Also, if the aparment is being rented by a management agency they are less likely to negotiate.

RadiantGirl

Hi Snakeblood

Thanks for your reply.

I am actually finding it really difficult to find somewhere I want to rent and would enjoy living in. For example, there is an apartment which is empty 4 months in the area I live and I offered €800 to move in asap, they were looking €950, no budge whatsoever.

You would think they would be happy to have some money coming in and someone in the property than none at all. Well thats taking into account that the EA actually contacted the landlord to tell them.

I was going to buy and after reading all the threads on this forum I have decided to rent. Proving difficult.

Zamboni

Are you trying to rent by yourself?

Perhaps shared accomodation might be a better/cheaper option?

RadiantGirl

Hi Zamoni

I suppose this is where I want the best of both worlds, rent for a good price and have my own space. I am currently living at home and years of living with my OH and I just need a bit of space....party house lol

I have a viewing tomorrow for somewhere I like, so maybe they could knock even €50 off the rent. It still hard thinking of paying €800 in rent when I could own my own house but I know it's the right thing to do.

Please tell me if you think Im wrong. Thats what I love about boards, there is no holding back

Zamboni

Well if you got shared accommodation you could be taking further advantage of the property market decline and channelling half of that €750/€800 into your savings.
I'm sure you could find a party house with other ladies...

RadiantGirl

You are 100% right on that, I just think I need to live on my own for awhile and if I shared I would feel like I had to run things past everyone all the time.

It's food for thought anyway. Maybe i'll look for a 1 bed and stop being greedy for a 2 bed

Treehouse72

RadiantGirl wrote: »

Hi All

So after much deliberation I have decided to rent for a year or so instead of rushing to buy.

As a first time renter, I have a question, which may be a bit stupid but hopefully you can give me some answers.

I have found that the majority of 2 bed apartments are going for €800+ in and around the areas I would like to rent.

My question, is the rental market the same as buyers market. Can you negotiate the price. I have seen a lovely apartment, close to work, friends etc which is €850, my limit is €750.

Your advice & replies are greatly appreciated.

RG x

First, you should keep a bit of perspective - your decision not to buy now is immeasurably more important than any short-term difficulty in finding somewhere to rent. The latter is a temporary pain, the former a decision that will save you a fortune over time.

On renting, rents should be just as negotiable as buying prices, and I'd say you should assume there is 10% priced into any asking rent for haggling: so €900 really means €810+/- in my view.

Rent Allowance is the killer in your price range. The welfare will give a couple €800 a month in Dublin for a 1-bed, and €930 for a parent + child. That is your competition at this price level. It is maddeningly unfair on private renters, but all signs are that this allowance will be lowered soon, so things should improve for renters.

Idbatterim

I have found that the majority of 2 bed apartments are going for €800+ in and around the areas I would like to rent.

My question, is the rental market the same as buyers market. Can you negotiate the price. I have seen a lovely apartment, close to work, friends etc which is €850, my limit is €750.

there are too many unknown variable in that question! look if you dont ask you dont get, the place thats being offered at E800 might be priced for an immediate let, i.e know messing around, the place at 950 might be chancing their arm and will accept 875, 850 etc! For example I went to view a 2 bed lovely apartment in sandyford business estate few days ago property, 3 students offered asking price of E1350 and were rejected, I said Id be prepared to offer max of €1250 and letting agent said that would be accepted by owner. So the quality of tenant is also important, you may get your desired apartment for less if you said you would stay for say 18-24 months... Im not advising you to go down that route though, even though you could get out of it handily enough and worst case scenario only probably lose your deposit...