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Liquidity Squeeze/ Rent

Liquidity Squeeze/ Rent

Old Oct 14th 2019, 11:59 am
  #1  
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Default 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!

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Old Oct 14th 2019, 2:36 pm
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Millhouse View Post
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!
And you've just handed over 133k to a man who is now going to disappear sharpish - expect the repo man next week turfing you out
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Old Oct 14th 2019, 2:38 pm
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Millhouse View Post
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!
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.
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Old Oct 14th 2019, 3:52 pm
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Scamp View Post
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.
Tired of the smell of curry in the corridor, eh? Just like home.
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Old Oct 15th 2019, 5:45 am
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by DXBtoDOH View Post
Tired of the smell of curry in the corridor, eh? Just like home.
No smell, yet. Just a shouty shouty crying crying 3 year old ****wit.
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Old Oct 15th 2019, 9:39 am
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Scamp View Post
Started looking and there are some serious deals to be had in very nice places.
I moved in July. Brand new 3 bed (plus maid) villa in Mira Oasis. 90K 1 chq.

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.
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Old Oct 15th 2019, 11:42 am
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by jam25mack View Post
I moved in July. Brand new 3 bed (plus maid) villa in Mira Oasis. 90K 1 chq.

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.
That's a very good deal. Some friends just did similar at Damac Hills, but 3bed 130k.
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.
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Old Oct 15th 2019, 1:32 pm
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Scamp View Post
That's a very good deal. Some friends just did similar at Damac Hills, but 3bed 130k.
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.
I'm in Meydan - 15mins to DIFC/downtown at any time of day. 133k, 3 bed - for two years old house.

Bollocks to living in Damac Hills and beyond - that road just doesn't have the capacity for the houses at peak hours.
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Old Oct 15th 2019, 1:33 pm
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by jam25mack View Post
I moved in July. Brand new 3 bed (plus maid) villa in Mira Oasis. 90K 1 chq.
Although that's a great deal. You could afford a driver cum cleaner and still be on top.
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Old Oct 15th 2019, 2:25 pm
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Millhouse View Post
I'm in Meydan - 15mins to DIFC/downtown at any time of day. 133k, 3 bed - for two years old house.

Bollocks to living in Damac Hills and beyond - that road just doesn't have the capacity for the houses at peak hours.
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.
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Old Oct 15th 2019, 2:39 pm
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Scamp View Post
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.
yup. I’m just over the bridge from business bay.

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Old Oct 15th 2019, 2:48 pm
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Scamp View Post
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.
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.
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Old Oct 15th 2019, 4:59 pm
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Millhouse View Post
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!
It also means you live alone and clearly don’t earn much.

Perhaps not unconnected to the fact that you’re on this board 24/7.
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Old Oct 16th 2019, 6:23 am
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Millhouse View Post
yup. I’m just over the bridge from business bay.
Interesting. The apartments at Meydan look alright too, some much nicer but don't seem to be bad.

Originally Posted by DXBtoDOH View Post
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.
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.

Originally Posted by Mr Cenary View Post
It also means you live alone and clearly don’t earn much.

Perhaps not unconnected to the fact that you’re on this board 24/7.
Swinging for the fences there. What a prick.
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Old Oct 16th 2019, 8:37 am
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Default Re: Liquidity Squeeze/ Rent

Originally Posted by Mr Cenary View Post


It also means you live alone and clearly don’t earn much.

Perhaps not unconnected to the fact that you’re on this board 24/7.
My working day starts at 4pm and runs all night. Sorry to hear that your Pinay girlfriend has got fat and sour-faced. Get a french bulldog, it'll be more affectionate, thinner and better looking.

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