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Negotating rent

  • 18-08-2020 11:27am
    #1
    missdanto
    Registered Users, Registered Users 2 Posts: 14 ✭


    Our lease is up in three months time and we've yet to get in contact with our landlord about the possibility of renewing it. Difficult situation at the moment as my OH has had his hours reduced since April.

    Only living here for 9 months so don't have a long-standing relationship with the LL but no issues at all during those 9 months. Prices in the area seemed to have dropped. What's the best way of approaching this? LL has to make their return but at the same time we need somewhere to stay that's affordable and reflects the current market. Is it a case of just being frank with them, highlight the going rate in the area and take it from there?


Comments

  • #2
    awec
    Administrators Posts: 54,424 Admin ✭✭✭✭✭awec


    Ask landlord for reduction to a rate you think is appropriate, if landlord says no give your notice and move out to one of the other places that are offering the rate you want.


  • #3
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭brisan


    missdanto wrote: »
    Our lease is up in three months time and we've yet to get in contact with our landlord about the possibility of renewing it. Difficult situation at the moment as my OH has had his hours reduced since April.

    Only living here for 9 months so don't have a long-standing relationship with the LL but no issues at all during those 9 months. Prices in the area seemed to have dropped. What's the best way of approaching this? LL has to make their return but at the same time we need somewhere to stay that's affordable and reflects the current market. Is it a case of just being frank with them, highlight the going rate in the area and take it from there?

    All you can do is print off all the ads for similar properties in your area.
    Take an average price of these and offer this amount to your landlord.
    If he says no at least you have the option to move or stay at the current rent or a new 4% increased rent ( assuming you are in an RPZ )
    Landlord may not be willing to drop rent as it affects any future rent he can charge.
    You could ask him to give you one months rent free at the start of the new lease ( an 8% reduction over the year ) thus allowing him to keep the nominal rent at the original price.
    However you must be prepared to walk and let him know this , so have finances in place to do so.
    If you do move your landlord will
    A Lose a months rent at least
    B Have to pay an estate agent and or advertising fees
    C May have to paint or tidy the place up which involves more costs.
    Nothing to lose by asking and letting the landlord know all the facts.
    At the moment there seems to be more properties than tenants especially in Dublin


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