We're coming to the end of a 12 month tenancy on a 2 bed place just off Bermondsey Street and are wondering on what to do. We currently pay £400 per week but it seems that since we moved in more and more flats have been developed and there is more on the market.
We are considering staying put but were wondering what has been happening to rental levels in the last 2 months. Can anyone help? Is there any evidence of rents dropping in the area?
Hi LN, stay there, rents are going up as i write this! i missed the SE1 party because i was flathunting with my daughter - 220gbp pw for 1 bedroom off old kent road with broken fridge & no washer/dryer & 240gbp for 1 b/r off waterloo road with no heating, broken bath & black mould on the ceilings - and similar, all through agents too! seems like the whole world is trying to rent in SE1 right now.
Quick rule of thumb. Unless you negotiated a big reduction when you moved in, the fact that you are living on Bermondsey St almost guarantees that you're paying top dollar. B St combined with the words "Architect Designed" ("pan-fried", or "oven baked" anyone?) makes it a dead certainty.
I'd try polite resistance to the idea of a raise, backed up with a little of your own research as to what similar flats are currently going for.
Thanks for the advice guys. What we might do is look at some decent alternatives and see where the ground lies with rents. The Landlord won't want to break the lease (soon to be 1 month mutual break) and we can find out what we can get elsewhere before negotiating.
Agree about the Bermondsey Street premium, ours comes with the attractive addition of being "diseptively spacious".