ukdcsengineer Posted January 17, 2012 Share Posted January 17, 2012 Can anyone advise if it is the norm to make an offer/ negotiate on the price of rented accommodation or do you have to pay the full estate agent asking price? We are a family with a 6 year old child and would like to be around New Farm, Newstead, Teneriffe, Spring Hill, Kangaroo Point etc areas in an apartment initially and there seems to be an abundance of these types of properties. I was wondering if a property is offered at $700pw what offers/reductions, if any, would be considered acceptable? Brian & family. Link to comment Share on other sites More sharing options...
Sapphire Posted January 17, 2012 Share Posted January 17, 2012 I think you would be very lucky to be able to negotiate.Most agents know they can rent out property all day long, and get in some cases, stupid amounts of money for rental, as it is in such high demand Its not cheap to rent and you will need a month or 6 weeks bond as well, plus I think they charge for credit checks and other bits on top Link to comment Share on other sites More sharing options...
Guest Calliope Posted January 17, 2012 Share Posted January 17, 2012 The only offers that I know of that have worked have been people offering MORE than the price, so they can make sure they get a place. If you want to try offering less, give it a go but I believe the rental market is quite heated in BRisbane atm (because of houses lost in the floods) so you will be making it less likely that you get the place... Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 18, 2012 Share Posted January 18, 2012 I can't answer for the area that you are looking in, but for Melbourne you would need to increase your offer rather than reduce. If you were heading to Cairns you could probably bargain as there are lots available. Link to comment Share on other sites More sharing options...
robfromdublin Posted January 18, 2012 Share Posted January 18, 2012 Yes of course you can make an offer, and the letting agent won't get their knickers in a twist over it unless they're a nutjob. Those are popular areas so it might be that the asking price is high just to see if anyone will bite. In which case it might be easier to just look at other properties. Link to comment Share on other sites More sharing options...
Eera Posted January 18, 2012 Share Posted January 18, 2012 Maybe if you're prepared to take it for a long time; sometimes the landlord will prefer having someone in there long term for $10 a week less. You probably won't get a huge discount though. Keep and eye on places in the listings to see how fast they go. if one's there that's been on the market for a couple of months you may be in a stronger position, but if there's a high turnover probably not. Link to comment Share on other sites More sharing options...
roger2shirts Posted January 18, 2012 Share Posted January 18, 2012 Why not! depends on how many people want it! Link to comment Share on other sites More sharing options...
ukdcsengineer Posted January 18, 2012 Author Share Posted January 18, 2012 Many thanks guys for the feedback, think some replies there are from estate agents :wink: Link to comment Share on other sites More sharing options...
Guest Calliope Posted January 18, 2012 Share Posted January 18, 2012 Haha no, but from former renters who have missed out on properties! Did you decide to make a lower offer? I'm curious to know how it goes! Good luck with your move, and enjoy Brisbane Link to comment Share on other sites More sharing options...
scattley Posted January 21, 2012 Share Posted January 21, 2012 In Sydney, its common to offer both more (only $5 a week or so) than the listed price and 12 months (not 6 month) contract. Unlike when you sell a property and the agent says "we should be able to get 400K so will list it at 430K - rental listings are at the price they are expecting to get. The agent gets a set amount of the weeks rent - so if you offer $5 less then the agent gets the same amount - the vendor is the one who looses out, and they will not be happy with that - remember with negative gearing, if the place does not rent out for another month the vendor doesnt real loose any money they just list a loss. Link to comment Share on other sites More sharing options...
brightonbee Posted January 21, 2012 Share Posted January 21, 2012 Landlords like strong tenants with secure jobs etc. and, in my experience, will reduce rents and postpone tenancy start dates accordingly. Link to comment Share on other sites More sharing options...
Fashionably Late Posted January 21, 2012 Share Posted January 21, 2012 My friend got a fab rental here in Brisbane with a reduction but the estate asked for a longer lease in exchange for it. She signed for 18 months as her house is being built but the demolition phase is taking longer than expected. The housing market is quite tight in Brisbane still so this was the exception rather than the norm. Link to comment Share on other sites More sharing options...
theonlyangus Posted January 21, 2012 Share Posted January 21, 2012 In our case, We arrived in Melbourne 8 days ago. We have a short term rental (4 weeks) to start with at at the usual high prices carged by these rentals. We have now secured a new 3 bed house in a new area but as we have no work as of yet we have had to put down 6 months rent + bond. Not easy but we had to do it. North of Melbourne has more new propertys to lease than other areas. New schools and shopping center's in place so all ok. Cheers Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 22, 2012 Share Posted January 22, 2012 In our case, We arrived in Melbourne 8 days ago. We have a short term rental (4 weeks) to start with at at the usual high prices carged by these rentals. We have now secured a new 3 bed house in a new area but as we have no work as of yet we have had to put down 6 months rent + bond. Not easy but we had to do it. North of Melbourne has more new propertys to lease than other areas. New schools and shopping center's in place so all ok. Cheers It can be illegal for them to ask you to pay 6 months upfront, did you volunteer? Link to comment Share on other sites More sharing options...
theonlyangus Posted January 22, 2012 Share Posted January 22, 2012 We were advised by the agent to offer to pay 6 months up front if we wanted to secure the house. As you would expect we got the the house . I dont feel to bad about it as works for us. Legal? why would the agent advise us to do it?? Link to comment Share on other sites More sharing options...
Quinkla Posted January 22, 2012 Share Posted January 22, 2012 It can be illegal for them to ask you to pay 6 months upfront, did you volunteer? Only if the weekly rent is $350 or under. If the rent is higher than that the agent can ask for more rent up front and for a higher bond. Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 23, 2012 Share Posted January 23, 2012 Only if the weekly rent is $350 or under. If the rent is higher than that the agent can ask for more rent up front and for a higher bond. Correct or if the rent is paid weekly they can't ask for more than 2 weeks in advance. here is the ruling: 40. Limit on rent in advance (1) A landlord must not require a tenant to pay rent under a tenancy agreement more than 1 month in advance. Penalty: 10 penalty units. (2) Sub-section (1) does not apply if the amount of rent payable for each week under the tenancy agreement exceeds— (a) $350; or (b) if a greater amount is prescribed for the purposes of section 31, that greater amount. 41. Rent in advance under weekly tenancy agreement Despite section 40, a landlord must not require a tenant to pay rent under a tenancy agreement more than 2 weeks in advance if the period in respect of which rent is payable under that agreement is not more than 1 week. Penalty: 10 penalty units. Link to comment Share on other sites More sharing options...
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