Negotiating with letting agents

[kingcook]

Has anyone ever negotiated with a letting agent around the number of months in a fixed term contract?

I've just started a 12-monther and i'm looking for a local flat to live near to client during the week. As you all know our IT contracts can get terminated at the drop of a hat, so I don't want to be lumbered with a 5 to 6 month let (for example) with no work.

My idea is say to get into a 6 month fixed-term letting contract but have some sort of break clause allowing me to break the letting contract if my IT contract is terminated, perhaps agreeing to pay the letting agent their commision for 6 months up-front so that they don't lose out.

I don't think waiting for a property to be on the market for a while and haggling is going to work in the city I work in as property gets let out like hot cakes (lots of students around here so there's plenty of customers!!)

Any tips?

[northernladuk]

I only have 6 month contracts and then go on to a rolling month. Gives me flexibility to get them out. I use two different letting agents and they both offered 6 months as standard. I could have put it up to 12 but it puts some tenants like yourself off. One of my long termers asked for the option to keep renewing the 6 month instead of going on rolling month, couldn't complain, she was there 10 years in the end

I think it is down to the landlords rather than the letters, or it was in my case. I guess they see it is a buoyant market at the moment so they are taking the opportunity to lock people in longer. The fact there is lots of students in makes sense as well, a year would be standard for them and why have a 6 monther when you can lock them in. Remember the letting agency work on behalf of the landlord. Giving the letter their fee still leaves the landlord out of pocket. All you might do there is get the letter on your side to try and bend the will of the landlord but at 10% a month I am sure he wants the landlord long term, not just for quick buck. Worth a try though.

When you say negotiate what exactly have you got to negotiate with? You willing to pay more? Can't see what else you have unfortunately. You could offer to pay the whole 6 months up front I guess but that would open you to a huge risk.

I would say try find a property that students might not be so willing to live in so the landlord may be running the risk of having it empty when all the students have settled possibly. More willing to take someone on for 6 months than having it empty for the year waiting for the next batch of students possibly? Dunno what type of property that might be though.

[expat]

...
My idea is say to get into a 6 month fixed-term letting contract but have some sort of break clause allowing me to break the letting contract if my IT contract is terminated
...
Any tips?

That seems like a reasonable idea. Whether the agent or landlord will think so is another matter. In some countries you wouldn't need to negotiate that, it's the law.

[ASB]

Check the terms of an assured shorthold tenancy. There are some elements in their which may help. It is possible you may have to do a corporate let to get the flexibility you want.

[Sausage Surprise]

www.spareroom.co.uk

Has details of self contained units like studio flats in people's basements, annexes and such. Usually all in with no bills too.

[kingcook]

I only have 6 month contracts and then go on to a rolling month. Gives me flexibility to get them out. I use two different letting agents and they both offered 6 months as standard. I could have put it up to 12 but it puts some tenants like yourself off. One of my long termers asked for the option to keep renewing the 6 month instead of going on rolling month, couldn't complain, she was there 10 years in the end

I think it is down to the landlords rather than the letters, or it was in my case. I guess they see it is a buoyant market at the moment so they are taking the opportunity to lock people in longer. The fact there is lots of students in makes sense as well, a year would be standard for them and why have a 6 monther when you can lock them in. Remember the letting agency work on behalf of the landlord. Giving the letter their fee still leaves the landlord out of pocket. All you might do there is get the letter on your side to try and bend the will of the landlord but at 10% a month I am sure he wants the landlord long term, not just for quick buck. Worth a try though.

When you say negotiate what exactly have you got to negotiate with? You willing to pay more? Can't see what else you have unfortunately. You could offer to pay the whole 6 months up front I guess but that would open you to a huge risk.

I would say try find a property that students might not be so willing to live in so the landlord may be running the risk of having it empty when all the students have settled possibly. More willing to take someone on for 6 months than having it empty for the year waiting for the next batch of students possibly? Dunno what type of property that might be though.

Hmmm, I never bothered to think what the landlord might think. Might be worth offering a few more £££ per month and/or pay X months rent up front, in exchange for offering a lower initial fixed term.

[kingcook]

www.spareroom.co.uk

Has details of self contained units like studio flats in people's basements, annexes and such. Usually all in with no bills too.

I looked at spareroom.com a few weeks ago. I only managed to find one flat attached to a house but it was a bit too far away. Defo not into lodging/house sharing (done it before, didn't like it)

[SueEllen]

I looked at spareroom.com a few weeks ago. I only managed to find one flat attached to a house but it was a bit too far away. Defo not into lodging/house sharing (done it before, didn't like it)

Stuff comes on that site all the time. It does help if you are near a city or large town.

[TykeMerc]

Never be reluctant to negotiate.

The letting agents won't be a lot of help in that regard as they tend to work to the instructions they have and so don't feel much ability to be flexible, but they should be willing to either act as a conduit between you and the landlord for negotiations or if practical put you in direct touch. The tricky bit with trying to negotiate is a surprisingly large percentage of landlords in some cities are based abroad, all of the landlords my eldest rented from as a student in Manchester were in Pakistan.

It's an old and well tested maxim, "If you don't ask, you won't get".

[kingcook]

WRT negotiating, I think I may be on to a loser.

Here's how fast stuff goes in this town.... flat goes on the market on Thursday so I phone to book a viewing for Monday next week (it's the earliest I could do in this case). Let has been agreed by late Friday/early Saturday

This has happened to me twice now within a week. Got an appointment for a couple of others on Monday but I get the feeling that someone else will be right behind me to agree the let without bothering to negotiate terms/price.