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How to Negotiate your London Rent with the Letting Agent

  • The first step is to establish that it IS the place that you want to rent. Try not to let your heart over-rule your brain, but do establish that it is the place that you want to make your home. There is no point in living somewhere that isn’t where you want to be, so don’t bother discussing anywhere that you aren’t sure that you would love to live in.
  •  If the place is that good - for goodness sake DO NOT GIVE THE IMPRESSION THAT YOU ARE DESPERATE!
  •  Also – DO NOT GIVE THE IMPRESSION THAT YOU ARE DESPERATE!
  •  the other thing that you have to bear in mind is DO NOT GIVE THE IMPRESSION THAT YOU ARE DESPERATE!
  • Establish that it really is where you want to live. If it’s been empty for a long time, find out why – it may simply be that it has been overpriced. But the first step is to be sure it is where you want. (Have I said that enough?)
  •  Use the agent. Agents have no loyalty to you, and no loyalty to the Landlord. The only thing they care about is their commission, and that you rent the property through them rather than through some other agent. Use them to negotiate the Landlord down on your behalf. Let them know that you are on the point of renting some other property which is better than this one, however if the deal is right ….
  • It is a mistake to go round to the other Agents marketing the property making several offers – the Landlord will think that he has 3 different tenants competing against each other to win the property, when it’s just you all the time!
  • Trade for a lower rent. Offer to rectify the properties problems in exchange for a reduction in rent. Offer to redecorate, clean out & restore whatever needs fixing, offer whatever skills you have as an advantage to the Landlord – if you know a plumber tell him you’ll fix the taps. Offer as many services as you can as it will reassure the Landlord that you are a good bet as a tenant.
  • Think about how long you want to stay. Establish the Landlord’s position – how long do they want to rent for? Once you know this, make an offer that appeals to them. If they want to rent long term, and you want to stay long term – offer to sign a long term contract, say 2 or 3 years, instead of the usual 6/12 months. The agent will push this to the Landlord on your behalf because it guarantees them fees for 2/3 years. Make sure the Landlord realises that this will be to their benefit because they avoid the void whilst finding a tenant. One month empty costs a Landlord 8.3% of the rent.
  • Right now rents are dropping – it would be a good time to lock a Landlord into a long-term contract at a low rent.
  •  Offer the Landlord some security. After the other negotiations have finished, ask for (say) 1 month free if you have paid 11 months’ rent on time. It’s a good deal for the landlord – if you become a problem tenant they will not have to give the month away. It will also reassure them that you intend to pay.

 Oh & BTW ………………………

 

………………………        DO NOT GIVE THE IMPRESSION THAT YOU ARE DESPERATE!

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VACANCIES

To View please phone Ruth on 0747607467

May 2012

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2 Bedroom Garden Flat

£2200 pcm
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