75% of tenants seek to negotiate rent reduction

Michael O’Flynn, Director at FindaProperty.com, said: "Tenants are aware of their strong position and have been quick to take advantage of it. The oversupply of rental property on the market means that they are happy to look elsewhere if landlords refuse to negotiate on the asking rent, but landlords’ biggest fear is void periods, so many are prepared to do deals now when they would have refused a year ago.

"Tenants may not be calling the shots for too much longer, however, as rental supply declined in June 2009 for the second month, although it still remains 68.4% higher than in June 2008."

Despite their determination to negotiate rent reductions, tenants were less bold in requesting that landlords pay for "extras" such as council tax and utility bills.

Just a quarter of tenants would feel confident asking for these to be included, and only 14% would feel confident asking for satellite TV or broadband.

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One thought on “75% of tenants seek to negotiate rent reduction

  1. Major Landlord

    I have had 1 in 17 tenants ask for a reduction on renewal this year, and he was told politely but firmly “no”. Most of the others paid a modest increase on renewal, without complaint.

    Findaproperty should stick to what they do best, which is running a sales and lettings web site. I don’t know why they think it’s a good idea to run these stupid surveys (unless it’s a ploy to get themselves up the search rankings), and even less to publish results which are against the interests of the very people who pay to advertise on their service.

    This is talking the market down. If you bite the hand that feeds you, you don’t get fed again.

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