I see in the daft report that rental prices are due to drop 15% in 2009. I will offer accordingly. What do you think?
However I paid my landlord on Monday for the March rental on my bedsit in Grove Park. I did not signany lease agreement with him so I can get out pretty much straight away with my monthly rent money and deposit which i paid back in August '06.
I have to say well done on that find. Not a bad looking place, as in looks clean, nice high ceilings, doesn’t look too cramped, especially if it’s just for you. And it is a good location. So I am actually surprised the price is that low, and heating is included, although I hate that personally. Having said that, bedsits are no longer allowed, so it is a realistic apartment for single occupancy. I’d offer him €600 pm and go no higher than €675 which is no more than you should be paying. Most people sharing would have been paying €500 or so, for swankier places, for the last number of years, so you shouldn’t have to pay much more than that in this market, just for the privilege of living alone. I doubt he’ll be heating the place to the tune of €100 pm.
Ah well, his loss. I am sure they are still in denial. And that guy has probably owned the place for donkeys, so probably less pressure re mortgage etc.
If I was you, I’d be looking at a house, look for a 3 or 4 bed place, maybe a little further out of town, but you’ll get more choice, and you pick one person to share with you. You’ll get a really nice 3 or 4 bed house for around 1k (after you’ve haggled em) or less, and you’ll have the extra room/s so you’re not under each others feet all the time.
It all depends on what your priorities are and how much you can afford. If you have to live alone, try the little one bed cottages, they’re asking €850 or €900 pm, which is not much more than the other place and obviously you can bring it down.
But what I really recommend is staying where you are until mid summer, so after the students have moved out, by that time the LL’s will really realise what’s up. You’ll have some time to save up the extra to pay the larger deposit and rent until you find the right person to share with. There’ll also be even more houses that can’t sell and will be up to rent so more choice and haggle room. Maybe by then you’ll have found a girlfriend, or boyfriend, as the case may be, and then yous can split the rent!!
PS, don’t forget to go to a place with your name and phone number on a piece of paper already, so if the LL won’t accept your offer, you can give it to him and he can call you when he gets desperate enough.
Thanks for the tales from the front line. I have been considering renting a place on my own for the last few months and have been kinda frustrated at the slow rate of price reductions, despite the fact that some properties have been on the market for months. At this stage prices are starting to get to a level where I think that I can negotiate but they are still about 20-30% higher than I am willing to pay so I would be looking for that level of reduction. It is interesting to hear that the LL wouldn’t even countenance a reduction.
I think the advice that jb gave about waiting until the summer is a good one at that. As soon as I mentioned the daft report the LL went from being courteous to downright dismissive. His demeanour was a total turn off. About 20 people showed up and a studio apartment which was really the size of a toilet was going for €450pm. I wouldnt have given him half that and on top the LL was looking for a 1 year lease. Most places that I have been sniffing around require a 1 year lease. It seems that LL’s know that prices are dropping but instead of taking the hit are trying to tie prospective tennants into a fix rent for now. Still though I wouldnt be surprised if some poor foreign schmoo got suckered into it.
I think that by June/July the market will have completely changed and i’ll be hovering around for some right bargains.
Since the EA’s seemed reluctant to reduce (by more than €50/m) we changed tack. WE set out a upper limit and went looking again, this time paying attention to how fast the good ones moved at that price.
To get the bargain we waited, and waited til somewhere good came up … even then often we were beated to it. One house in Sth Lotts had 17 viewers in one night and went instantly. We finally came accross a place in The Chocolate Factory that fit the bill perfectly.
SNAP, we’ll take it. The EA promised to get back to us immediately, he didn’t. No word. Inspection of Daft showed the rent had GONE UP by €50/m … the f*cker!
Forlorn, we resigned to having to get a shihole short term and keep looking. Due to return to Cork after four days looking we went for one last look on Daft for said shihole.
Whilst doing so, a LL returned a call, we arranged a viewing.
End of tale is we got 1160sq ft for the price of 800 … lucky lucky lucky!
Do the work make your own luck.
I think watching for what moves fast at your target range will show you where the market is at.
Cheers to Property Pin and the lovely Property Bee for decisive info.
Heytesbury street defo, I wouldn’t try and drive too hard a bargain. Nice area, nicest apt by far, of the 3. And good price in comparison to others. Also 6 month lease, so you can neg down in 6 mths if needs be. Depends how much you want to move now.