Liquidity Squeeze/ Rent
#1
Liquidity Squeeze/ Rent
I've just had the most strange negotiation with my landlord.
I currently pay 140k, one cheque. Everyone else around me pays around 160k but I do see new adverts at 150k - I was lucky last year on price. The guy before me paid 192k.
I had agreed 140k, two cheques for the renewal about a month ago. I couldn't be bothered to negotiate the price at the time as I'm roughly in-market and so just went for payment terms. Anyway, I just got a text from the agent asking what discount would I need for one cheque. I offered 133k, one cheque and it was agreed immediately.
This means two things: 1) the landlord has liquidity issues, 2) I could have gone lower!
I currently pay 140k, one cheque. Everyone else around me pays around 160k but I do see new adverts at 150k - I was lucky last year on price. The guy before me paid 192k.
I had agreed 140k, two cheques for the renewal about a month ago. I couldn't be bothered to negotiate the price at the time as I'm roughly in-market and so just went for payment terms. Anyway, I just got a text from the agent asking what discount would I need for one cheque. I offered 133k, one cheque and it was agreed immediately.
This means two things: 1) the landlord has liquidity issues, 2) I could have gone lower!
#2
Re: Liquidity Squeeze/ Rent
I've just had the most strange negotiation with my landlord.
I currently pay 140k, one cheque. Everyone else around me pays around 160k but I do see new adverts at 150k - I was lucky last year on price. The guy before me paid 192k.
I had agreed 140k, two cheques for the renewal about a month ago. I couldn't be bothered to negotiate the price at the time as I'm roughly in-market and so just went for payment terms. Anyway, I just got a text from the agent asking what discount would I need for one cheque. I offered 133k, one cheque and it was agreed immediately.
This means two things: 1) the landlord has liquidity issues, 2) I could have gone lower!
I currently pay 140k, one cheque. Everyone else around me pays around 160k but I do see new adverts at 150k - I was lucky last year on price. The guy before me paid 192k.
I had agreed 140k, two cheques for the renewal about a month ago. I couldn't be bothered to negotiate the price at the time as I'm roughly in-market and so just went for payment terms. Anyway, I just got a text from the agent asking what discount would I need for one cheque. I offered 133k, one cheque and it was agreed immediately.
This means two things: 1) the landlord has liquidity issues, 2) I could have gone lower!
#3
Account Closed
Joined: Feb 2011
Posts: 0
Re: Liquidity Squeeze/ Rent
I've just had the most strange negotiation with my landlord.
I currently pay 140k, one cheque. Everyone else around me pays around 160k but I do see new adverts at 150k - I was lucky last year on price. The guy before me paid 192k.
I had agreed 140k, two cheques for the renewal about a month ago. I couldn't be bothered to negotiate the price at the time as I'm roughly in-market and so just went for payment terms. Anyway, I just got a text from the agent asking what discount would I need for one cheque. I offered 133k, one cheque and it was agreed immediately.
This means two things: 1) the landlord has liquidity issues, 2) I could have gone lower!
I currently pay 140k, one cheque. Everyone else around me pays around 160k but I do see new adverts at 150k - I was lucky last year on price. The guy before me paid 192k.
I had agreed 140k, two cheques for the renewal about a month ago. I couldn't be bothered to negotiate the price at the time as I'm roughly in-market and so just went for payment terms. Anyway, I just got a text from the agent asking what discount would I need for one cheque. I offered 133k, one cheque and it was agreed immediately.
This means two things: 1) the landlord has liquidity issues, 2) I could have gone lower!
We're about to try and break our rental term I think. New neighbours and they're deafeningly loud sadly. They're also representative of a demographic shift in our tower recently - rents have plummeted, they're huge apartments and we're seeing many 3-generations-in-a-one-bed situations. It's been alright and no real issues (other than occasional lift etiquette issues etc) until the noisy neighbours arrived. Now we're both thinking - **** this, we don't need it.
Started looking and there are some serious deals to be had in very nice places.
#4
BE Forum Addict
Joined: Jan 2015
Posts: 3,520
Re: Liquidity Squeeze/ Rent
Good research and data, thanks for sharing. Might just be your Landlord who's ****ed but might be all of them
We're about to try and break our rental term I think. New neighbours and they're deafeningly loud sadly. They're also representative of a demographic shift in our tower recently - rents have plummeted, they're huge apartments and we're seeing many 3-generations-in-a-one-bed situations. It's been alright and no real issues (other than occasional lift etiquette issues etc) until the noisy neighbours arrived. Now we're both thinking - **** this, we don't need it.
Started looking and there are some serious deals to be had in very nice places.
We're about to try and break our rental term I think. New neighbours and they're deafeningly loud sadly. They're also representative of a demographic shift in our tower recently - rents have plummeted, they're huge apartments and we're seeing many 3-generations-in-a-one-bed situations. It's been alright and no real issues (other than occasional lift etiquette issues etc) until the noisy neighbours arrived. Now we're both thinking - **** this, we don't need it.
Started looking and there are some serious deals to be had in very nice places.
#6
BE Forum Addict
Joined: Jan 2011
Location: Dubai
Posts: 3,467
Re: Liquidity Squeeze/ Rent
My mate just got a brand new 5 bed (plus maids) villa in Damac Hills for 155K 1 chq.
Definitely some bargains to be had.
#7
Account Closed
Joined: Feb 2011
Posts: 0
Re: Liquidity Squeeze/ Rent
90k in Mira is good but do you not feel a long way out? We've always lived here and it's so convenient for work (I walk) and downtown etc.
#8
Re: Liquidity Squeeze/ Rent
Bollocks to living in Damac Hills and beyond - that road just doesn't have the capacity for the houses at peak hours.
#10
Account Closed
Joined: Feb 2011
Posts: 0
Re: Liquidity Squeeze/ Rent
133k is more than I want to spend and a 3 bed invites long term guests, which is horrifying. We'll stick to apartment living for the time being and just deal with the noise / complain to security in the most passive aggressive way having now knocked and introduced ourselves.
#11
Re: Liquidity Squeeze/ Rent
Do you get good food deliveries out there?
133k is more than I want to spend and a 3 bed invites long term guests, which is horrifying. We'll stick to apartment living for the time being and just deal with the noise / complain to security in the most passive aggressive way having now knocked and introduced ourselves.
133k is more than I want to spend and a 3 bed invites long term guests, which is horrifying. We'll stick to apartment living for the time being and just deal with the noise / complain to security in the most passive aggressive way having now knocked and introduced ourselves.
#12
BE Forum Addict
Joined: Jan 2015
Posts: 3,520
Re: Liquidity Squeeze/ Rent
Do you get good food deliveries out there?
133k is more than I want to spend and a 3 bed invites long term guests, which is horrifying. We'll stick to apartment living for the time being and just deal with the noise / complain to security in the most passive aggressive way having now knocked and introduced ourselves.
133k is more than I want to spend and a 3 bed invites long term guests, which is horrifying. We'll stick to apartment living for the time being and just deal with the noise / complain to security in the most passive aggressive way having now knocked and introduced ourselves.
#13
Just Joined
Joined: Apr 2019
Posts: 21
Re: Liquidity Squeeze/ Rent
I've just had the most strange negotiation with my landlord.
I currently pay 140k, one cheque. Everyone else around me pays around 160k but I do see new adverts at 150k - I was lucky last year on price. The guy before me paid 192k.
I had agreed 140k, two cheques for the renewal about a month ago. I couldn't be bothered to negotiate the price at the time as I'm roughly in-market and so just went for payment terms. Anyway, I just got a text from the agent asking what discount would I need for one cheque. I offered 133k, one cheque and it was agreed immediately.
This means two things: 1) the landlord has liquidity issues, 2) I could have gone lower!
I currently pay 140k, one cheque. Everyone else around me pays around 160k but I do see new adverts at 150k - I was lucky last year on price. The guy before me paid 192k.
I had agreed 140k, two cheques for the renewal about a month ago. I couldn't be bothered to negotiate the price at the time as I'm roughly in-market and so just went for payment terms. Anyway, I just got a text from the agent asking what discount would I need for one cheque. I offered 133k, one cheque and it was agreed immediately.
This means two things: 1) the landlord has liquidity issues, 2) I could have gone lower!
Perhaps not unconnected to the fact that you’re on this board 24/7.
#14
Account Closed
Joined: Feb 2011
Posts: 0
Re: Liquidity Squeeze/ Rent
Interesting. The apartments at Meydan look alright too, some much nicer but don't seem to be bad.
Not a bad shout. I don't want her to get into hardcore house/apartment hunting though, she'll then want to do it and sacrificing rent money to the landlord is not something I want to do.
Swinging for the fences there. What a prick.
Why not sniff around and see if you can still get one of the smaller older villas near the beach in Jumeirah or Umm Suqeim? I reckon the best of my time in Dubai was when I shared one of those villas with a pair of mates. 10 minutes' walk from the beach, had a garden for parties and barbecues, it was a rare old time. Loved it. Still think about it. Then again it also helped I was 28-29 at the time.
Swinging for the fences there. What a prick.
#15
Re: Liquidity Squeeze/ Rent