Rent decrease in Cork

Q

qweqwerty123

Guest
Hi

My tenants are looking for a slight decrease in rent (€100 a month). I was actually thinking of putting it up by the same amount as I have been doing research and looks like its a bit below what others in the area are asking for. What I charge is already below the mortgage so Im not being greedy! Anyone know if rents are generally going down in Cork (Midleton)?
Thanks
 
Look up rents for similar type properties in similar areas on Daft.ie.
If you like your tenants and they are not taking the mick then drop the rent.
If they are taking the Mick and the market will support an increase then increase.

Tenants all over all of the newsgroups are talking about trying this :) If their landlord is not on the ball they win. However if the landlord is overchargeing its only fair that they ask for a decrease in rent.
 
minion - did just that on daft and there are no completely similar properties to compare against - only same type house in midleton area and my house's rent was the cheapest of all of them.
RE: "If you like your tenants and they are not taking the mick then drop the rent. If they are taking the Mick and the market will support an increase then increase." - yep - thats what Im trying to do alright on AAM!!... ! i.e. find out whether they are chancing their arm or not, so if anyone knows if the Midleton (or even Cork) rental market is getting cheaper, please drop us a line! :)

cheers!
 
Don't know the Midelton market but theres alot to be said for good tenants. If they pay on time and don't call you every week with various gripes, thats worth alot more than an extra few bob each week.
If they want it dropped by €100 and you want it raised by €100, split the difference and leave it the same. You can always reconsider if they hand in notice.
 
I don;t beleive rent is going down.... one advantage youalso have is that the Amgen project is starting up again so with construction jobs etc the market should be quite healthy - Midleton is still a booming town right?
ninsaga
 
Yeah - I think I will take yer advice and keep the rent the same. They are grand tenants but dont see why I should be giving rent reductions if the market isnt going that way and if the house is already cheap enough compared to others...
thanks for replies
 
def would think of giving a reduction. Rent is increasing at the moment.
 
I would not bet on the Amgen project just yet. They are having finiancial problems at the moment and with the euro going up against the dollar Cork may be looking a bit expensive.
 
from my experience rents in Midleton have only been rising over the last 6 months ,by typically €100-€150 for a typical 3 bedroom semi,I think that they are trying you.
 
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