Agent games?

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    Agent games?

    Here's an odd one: My best flat in Reading fell vacant at end of April, and has now been to let for 2 weeks. My agent suggested £1050, which we got last July, but I said £1000. Yesterday one of agent's flunkies rang and suggested a further reduction due to 'other properties coming on the market'. I refused, pointing out that it is the cheapest unfurnished 2 bed, 2 bath with parking in RG1.

    What's going on? Is agent looking for an easy job?

    #2
    The agent is probably trying to get it rented as quickly as possible, especially if there are more properties coming onto the market either through them or other agents. The agent is probably listening to the hysteria rather than judging the local market, especially if they get a number of people interested at the rate you are proposing. I would also be more interested in them vetting any prospective T.

    Comment


      #3
      Or they have a mate that wants it. Perhaps I'm too cynical.

      Comment


        #4
        That's your best flat and tenants haven't even stayed a year ?
        (My best flat has had same tenants for 27 years)

        Maybe ask a bit less and have less voids ?

        Comment


          #5
          Originally posted by Section20z View Post
          That's your best flat and tenants haven't even stayed a year ?
          (My best flat has had same tenants for 27 years)

          Maybe ask a bit less and have less voids ?
          It wasn't the price that was the problem. It was the lady returning to Saudi afraid of coronavirus. Previous tenant was there 9 years.

          Comment


            #6
            Hang on for the grand, you're not desperate, and it'll easily go once things settle.
            (I still don't understand why a man of your knowledge is subcontracting your precious rentals to a 20 year old kid.)

            However;

            The flat is nice enough but it's bleedin' boring. It's a featureless box, I've got similar.

            Who's going to rent it?

            A family? -Nah, for so many reasons.
            High end professional tenant? -It's not quite good enough.
            Two friends sharing? Maybe with partner? -That'd work with two bathrooms. But not without renting it furnished. A ménage a trois is one thing but buying a sofa together is a commitment.

            Try advertising it as furnished as well as unfurnished. (Bung in a 2nd hand leather sofa and couple of beds as required, all tax deductible.)

            Comment


              #7
              Originally posted by boletus View Post
              (Bung in a 2nd hand leather sofa and couple of beds as required, all tax deductible.)
              They're not tax deductible.
              Any replacements will be, but the initial purchases aren't.

              I'm sure there's a reason behind that, but it eludes me.
              When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
              Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

              Comment


                #8
                Originally posted by jpkeates View Post
                They're not tax deductible.
                Deductible as capital expenditure!

                (But you're quite correct it isn't deductible against income, which was indeed my original meaning)

                Comment


                  #9
                  I don't think its deductible as capital expenditure either. Moveable furniture never was.

                  Comment


                    #10
                    This is interesting: This morning, another flat with another agent that only fell vacant a week ago was snapped up for £900. This only has the one bathroom, and no gated parking, but everything else is similar.

                    Comment


                      #11
                      It would suggest to me that the extra bathroom and parking are not worth an extra £100 a month. I'm sure a lot of tenants would see it as saving £100 and not be disadvantaged by a whole lot.

                      Comment


                        #12
                        Originally posted by ExpertInAField View Post
                        It would suggest to me that the extra bathroom and parking are not worth an extra £100 a month. I'm sure a lot of tenants would see it as saving £100 and not be disadvantaged by a whole lot.
                        I know, but even back in 2007, the first flat cost me £192k and the second one £165k. I should get something for the extra £27k, surely?

                        Comment


                          #13
                          It may come down to perceived value by the tenant. They don't need the extras, so there's no point in paying extra for them. Just because you paid more means nothing to the outside person.

                          Comment


                            #14
                            I'd have thought the parking would be worth £100 to someone (although maybe this plague has made driving less popular).

                            You getting no enquiries at all?
                            When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
                            Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

                            Comment


                              #15
                              Originally posted by jpkeates View Post
                              I'd have thought the parking would be worth £100 to someone (although maybe this plague has made driving less popular).

                              You getting no enquiries at all?
                              Oh, it's not that there's no parking at the 2nd. Just there's no remote controlled gate to stop all & sundry using it.

                              The woman told me there were viewings booked but they cancelled.

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