Excellent tenant wants a 20% rent reduction?Make Text Bigger
I have an excellent tenant who pays £1500 every month. With 2 months left on the contract, I asked for his intention on renewal. He said he would renew, but only at £1200 per month.
I said I would do some research and let him know. Two letting agents say ‘no’ as houses are renting very quickly and demand is outstripping supply so if anything you should increase your rent.
However, the agents obviously want their fee plus I may have a void period. So say £2000 down, but could renew with existing tenants for £1400 showing a reduction, but only £1200 down on the year and no hassle over the deposit what would you recommend.
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