Reasonable to request drop of rental price?

[Rob S]

OK, moved in in Jan 2008 paying £750 when interest rates were around 5.50%, now at 2% and I am still payign the same. I live on the first floor fo a 3 storey building and recently saw the upstairs flat for rent for the same price I am currently payign when it was c.£100 per momnth more expensive when I moved in!

Is it reasonable to ask them to consider reducing the rent?

[Plotloss]

Not now.

You're free to renegotiate at the end of the AST though.

[illmonkey]

http://pistonheads.com/gassing/topic.asp?h=0&f...

[Drop Test b3nxj]

Move upstairs. . .

[Rob S]

Plotloss said:

Not now.

You're free to renegotiate at the end of the AST though.

I agreed an extension about 4/5 months ago

[Mc Lovin]

Rob S said:

Plotloss said:

Not now.

You're free to renegotiate at the end of the AST though.

I agreed an extension about 4/5 months ago

Why would you do that? i bet the LL rubbed his hands when you agreed to that!!

[Rob S]

illmonkey said:

http://pistonheads.com/gassing/topic.asp?h=0&f...

Cheers.

I understand why everyone is saying no BUT you can be damn sure that if rate swent up as much as they've come down the landlords would be straight in there. I realsie its unliekly but seems no harm in asking.

[Plotloss]

Rob S said:

Plotloss said:

Not now.

You're free to renegotiate at the end of the AST though.

I agreed an extension about 4/5 months ago

Then when that ends feel free to renegotiate or hand in your notice and move.

The price is the price, mortgage rates changing do not impact the price, you were happy to pay the price at the time of signing so keep your word. Going back on it doesnt paint a very good picture of you to be honest.

[Rob S]

Mc Lovin said:

Rob S said:

Plotloss said:

Not now.

You're free to renegotiate at the end of the AST though.

I agreed an extension about 4/5 months ago

Why would you do that? i bet the LL rubbed his hands when you agreed to that!!

Because I wanted to stay there at the time. Inflation was rocketing up and int rates were relatively stable so made sense to me then, obviosuly since then the int rates have fallen throgun the floor!

[illmonkey]

Rob S said:

illmonkey said:

http://pistonheads.com/gassing/topic.asp?h=0&f...

Cheers.

I understand why everyone is saying no BUT you can be damn sure that if rate swent up as much as they've come down the landlords would be straight in there. I realsie its unliekly but seems no harm in asking.

How, if you have a signed contract the landlord cant up it until that is expired. He can make your life a bit of hell but cant up payments half way through a contract.

[Rob S]

illmonkey said:

Rob S said:

illmonkey said:

http://pistonheads.com/gassing/topic.asp?h=0&f...

Cheers.

I understand why everyone is saying no BUT you can be damn sure that if rate swent up as much as they've come down the landlords would be straight in there. I realsie its unliekly but seems no harm in asking.

How, if you have a signed contract the landlord cant up it until that is expired. He can make your life a bit of hell but cant up payments half way through a contract.

Not really sure how it works hence why Im asking.

[illmonkey]

Rob S said:

illmonkey said:

Rob S said:

illmonkey said:

http://pistonheads.com/gassing/topic.asp?h=0&f...

Cheers.

I understand why everyone is saying no BUT you can be damn sure that if rate swent up as much as they've come down the landlords would be straight in there. I realsie its unliekly but seems no harm in asking.

How, if you have a signed contract the landlord cant up it until that is expired. He can make your life a bit of hell but cant up payments half way through a contract.

Not really sure how it works hence why Im asking.

The contract states a monthly figure. The contract is X months long, it cant be broken, by any terms changing. If it is, you have a right to take legal action, and you'd probably win. Costing the landlord a hell of a lot more that the missing £100/month.

[GreenDog]

The drop in rates would only be a factor if the owners have the property mortgaged - maybe it was bought outright or perhaps if it is mortgaged they'd not not benefitting from the reductions as its on a fixed rate.

[Rob S]

anonymous said:

[redacted]

What?! I am well aware of what I signed, what I am askign is is it reasonable given the exceptional circumstances to ask them to review the rental amount as I feel that if rates had gone up as much as they came down the landlords would want to increase my rent. I might add my landlords are an old coupel who live in a village near me, not a company etc

[Plotloss]

anonymous said:

[redacted]

They wouldnt have any legal basis to put the rent up mid term.

Just as you have no legal basis to pay less than the contractual price mid term.

[Rob S]

illmonkey said:

Rob S said:

illmonkey said:

Rob S said:

illmonkey said:

http://pistonheads.com/gassing/topic.asp?h=0&f...

Cheers.

I understand why everyone is saying no BUT you can be damn sure that if rate swent up as much as they've come down the landlords would be straight in there. I realsie its unliekly but seems no harm in asking.

How, if you have a signed contract the landlord cant up it until that is expired. He can make your life a bit of hell but cant up payments half way through a contract.

Not really sure how it works hence why Im asking.

The contract states a monthly figure. The contract is X months long, it cant be broken, by any terms changing. If it is, you have a right to take legal action, and you'd probably win. Costing the landlord a hell of a lot more that the missing £100/month.

Makes sense. Cheers. Luckily there is a 6 month breakoff period which hits in a few weeks so may use that as a bargainign tool.

[hornetrider]

anonymous said:

[redacted]

No, they couldn't, and wouldn't. Not during your current contract anyway.

[dmitsi]

How about if the contract had turned into a rolling tenancy agreement(not sure of it's proper name). After the inital six months of the contract in my last place, it then became a contract where I could give one months notice to leave, and the LL had to give two months to make any changes/cancel contract.

If it was like that he could re-negotiate, or was that just a highly illegal probably unenforcable AST I was in?

[scotal]

anonymous said:

[redacted]

You have a contract, stick with it. Rents didnt rise as interest rates went up as the market is decided on supply and demand, not on mortgage rates.
Are you even sure your landlord has a mortgage on the property?

[Rob S]

anonymous said:

[redacted]

I dont think its reasonable necessarily, no. But it wouldnt surprise me if they tried it on, hence why I am thinking of tryign it on on the basis that my landlords are local humans and not a rental company etc. Given what everyone has said then it seems liekly they will just point to the contract and say on your bike in which case I will have to resort to threats to move out when the 6 months period is up as in current market terms I think I'm overpaying by up to £100 a month, quite a bit when you liv eon yuor own!