House prices in London are falling dramatically. Is it time for me to ask for a discount at my rent?

I have rented a 3 bedroom house for £1,100 a month but as far as I can see from the housing market forecast the prices are falling dramatically. Can I ask my landlord to discount the rent I am paying?

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4 Responses to “House prices in London are falling dramatically. Is it time for me to ask for a discount at my rent?”

  1. Robbie P says:

    Your tenancy agreement will be in place stating your rent, though you could check your local paper and estate agent for houses in similar areas of yours now and see their asking price.

    If this is a dramtic decrease, then maybe your landlord will be willing to make a change. It will probably be a case of supply and demand, if lots of people are willing to rent at the price you pay now, then your landlord will probably think April Fools day has come early this year!

  2. David P says:

    The value of the property does not determine the rent payable.

    If there are more people wanting to rent than there is accomodation, the prices will continue to rise.

    As the credit crunch hits, there will be more people wanting to rent.

    You could see your rent rise when it is time for review.

  3. mande95747 says:

    Nope!

    1. You have no right. You agreed to the price, so that’s the end of it. You’re not getting "taken advantage of" or whatever, because you agreed that it was worth that price.

    2. They probably bought the building AT THE HIGHER PRICES, not what prices are now.
    Nobody is giving them a refund just because the prices are down a bit at the moment. The market at the moment, is not in any way a financial benefit to them, so there’s no logic in discounting the rent at all.

    You must be very young and inexperienced in life, to think this is somehow unfair.
    Would you be willing to pay more, if housing prices went up again? Didn’t think so.

  4. freakboynv2000 says:

    you can always ask but don’t expect much.

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