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News: Most tenants admit negotiating over rent levels is difficult

Wed, 20 Oct 21

A Foxtons-owned lettings agency says 60 per cent of tenants and would-be buyers say they are not confident negotiating asking rents and prices. 

A poll by Douglas & Gordon - a London agency snapped up by Foxtons last year - says the majority admit they do not know when is the best time to negotiate in a deal.

This is slightly higher than a similar poll taken a year ago, when the figure was 55 per cent.

Meanwhile 61 per cent of landlords and sellers say they find negotiations an essential part of the transaction. 

Douglas & Gordon - perhaps unsurprisingly - says it advises most prospective renters to offer the asking rent if they want to be taken seriously, adding that “applicants expecting to negotiate or submit offers below the asking price run a high risk of being turned down.”

“With more people looking and fewer properties to choose from, negotiating power has tipped in favour of sellers and landlords” says the agency in a new blog.

 

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