I was wondering if people would like to share how they deal with potential tenants who try to negotiate and persuade you to accept their proposal.
I just had an ongoing conversation via Openrent with a potential tenant who contacted me wanted further discount on the rent of an already reduced property. He was very compelling in his argument and even attempted to emotionally blackmail me by saying that he felt insulted that I ask for 3 months rent in advance as assurance. Unfortunately, we have already been bitten by tenants in the past who ask for a lot of discount and want all the terms that suit them too, then either leave before the end of contract or trash the house so we obviously didn’t give in this time.
I had one potential tenant agreed to rent the place verbally, I paid to have him credit checked he then offered me £40 a month less than the rent ,when I refused he disappeared off the radar.
Wouldn’t take my calls or respond to texts.
I did get in touch by using another mobile and pointed out the error of his ways and that it was not a reasonable way to act.
On reflection I dodged a bullet if a person acts like this in the beginning what iis he going to be like 6 months in.
Seriously, if they are giving you this trouble before they’ve even moved in then they are going to be even worse once they are in. Walk away . Its your property, your rules. There are plenty of tenants out there
I had a prospective tenant like that, who offered £100 per month less, without having even viewed the property. I thanked them for their offer and explained to them that there were a number of other similar properties in the area at a lower rent if they were unable to afford the rent I was asking. I did not hear anything back.
If before a prospective tenant has moved in, is already questioning your terms- stay clear. Taking a tenant on is far easier than getting an unsuitable one to leave. If some-one likes the house enough, he`ll hopefully appreciate it and respect you and your property.
I had one offering less before even taking the property. However, I didn’t think too much about it but once installed, after a few months the requests kept coming.
If anyone did this to me again I would walk away there and then as that attitude persists.
I agree with you Mr_T I would be wary of negotiating a lower price (before the tenant takes the property), as I feel that would be giving control to the prospective tenant. This does not mean that you cannot at some point reduce the rent at a time of your choosing, if you need to do so.
On another but slightly related point, I have been doing virtual viewings via whatsapp video, partly for protection reasons, but it is a simple way to meet the prospective tenants, without risk. I followed this up with an unaccompanied viewing (for those I had short listed) ie they went round the property on their own. It worked well
Totally agree in my experience further down the line I’m in no doubt they would find some problems and then approach you for a further reduction.
This is happening before you even accepted the potential tenant !! Plsd to hear you said no.
We have let’s a couple of flats in London for several years. We will negotiate around the rent when initially letting, and set our starting price a little high. I feel that a two-sided discussion allows the landlord to further assess the potential tenant. We still have a bottom line rent below which we will not go. This has worked for us, so far.