Tenants must be realistic over discounts, expert says

News Category: Management

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A property expert has suggested that tenants need to be realistic when negotiating the possibility of discounts with landlords or letting agents.

Chris Jenkins of commercial finance and buy-to-let firm Clarity Commercial commented that tenants could have a reason to negotiate if they find comparable properties in the area priced at a lower amount.

"There may be a reason why other properties in the area are a different price but then again you may get a landlord who has incorrectly priced the property," he noted.

However, current demand in the residential lettings sector suggests that tenants' potential to negotiate could be limited, Mr Jenkins noted.

A fairly-priced property in good condition would be expected to attract high demand from a number of would-be tenants, he said.

Landlords might also welcome the security provided by a tenant who can provide a guarantor, pay up front or offer a slightly larger deposit, Mr Jenkins added.

His comments come after the value of houses in the rental market fell by 8.3 per cent during 2008, according to statistics published by the Association of Residential Letting Agents last month.

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