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Old 05.03.2021, 07:30
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Finding a replacement tenant for grossly overpriced apartment

We have a lease agreement which ends at the end of June.

The landlord has said we can leave early but we have to find a new tenant.

The problem is this apartment is way way overpriced and no one is interested. There are some bigger apartments in the area new builds which are less expensive.

We were clueless expats. Had no clue we were over paying.

Do we have any legal recourse to get the landlord to reduce the rent so that we can find someone else?
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Old 05.03.2021, 07:35
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Re: Finding a replacement tenant for grossly overpriced apartment

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We have a lease agreement which ends at the end of June.

The landlord has said we can leave early but we have to find a new tenant.

The problem is this apartment is way way overpriced and no one is interested. There are some bigger apartments in the area new builds which are less expensive.

We were clueless expats. Had no clue we were over paying.

Do we have any legal recourse to get the landlord to reduce the rent so that we can find someone else?
Labelling yourself as a 'clueless expat' is no excuse for not having basic common sense and for not doing some basic due diligence on local rental prices before accepting a contract. You could have got a reasonable idea of rental prices with only a small amount of research.

Also you don't even provide any useful info so we have no clue:
  1. How big your place is
  2. Where it is located
  3. How much you are paying.

How can anyone give any useful input without these BASIC details?
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Old 05.03.2021, 07:49
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Re: Finding a replacement tenant for grossly overpriced apartment

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We have a lease agreement which ends at the end of June.

The landlord has said we can leave early but we have to find a new tenant.

The problem is this apartment is way way overpriced and no one is interested. There are some bigger apartments in the area new builds which are less expensive.

We were clueless expats. Had no clue we were over paying.

Do we have any legal recourse to get the landlord to reduce the rent so that we can find someone else?
Are you then considering adapting your "give me all your data or pass on the apartment" strategy? It doesn't appear to have aged very well...
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Old 05.03.2021, 07:50
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Re: Finding a replacement tenant for grossly overpriced apartment

The answer to OPs question is no.
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Old 05.03.2021, 08:16
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Re: Finding a replacement tenant for grossly overpriced apartment

It sounds crazy but this is how the Swiss market works. Landlords, which are often corporations, would rather let an appartement sit empty than reduce the rent by even a centime.

This is particularly prevalent with low availability.

While nothing stops you from asking I don’t see any reason why they would agree.

Nothing stops you from offering incentives, such as offering to pay the first months rent.
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Old 05.03.2021, 09:04
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Re: Finding a replacement tenant for grossly overpriced apartment

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We have a lease agreement which ends at the end of June.

The landlord has said we can leave early but we have to find a new tenant.

The problem is this apartment is way way overpriced and no one is interested. There are some bigger apartments in the area new builds which are less expensive.
"In the area" isn't necessarily the same thing as in your building, if your apartment is one of several units in the same building.

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We were clueless expats. Had no clue we were over paying.
When you were looking at apartments did you not look at anything else in the area? Even looking online one can do a bit of research. That being said, sometimes there is very little on the market and you take what is available.

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Do we have any legal recourse to get the landlord to reduce the rent so that we can find someone else?
This is not impossible, but very difficult. You basically have to prove that an almost identical apartment in the same location is less expensive.

Even in the same building, rents can vary due to different exposure, higher floor, bigger terrace/balcony, garden. There are quite a number of variables. Units which have been renovated can also have higher rents.

As the lease runs out the end of June, assuming you have given notice in writing, you are obligated to pay rent for just 3 more months. That is the worst case scenario.
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Old 05.03.2021, 09:10
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Re: Finding a replacement tenant for grossly overpriced apartment

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It sounds crazy but this is how the Swiss market works. Landlords, which are often corporations, would rather let an appartement sit empty than reduce the rent by even a centime.
Probably because they would take a hit on the balance sheet if they reduced the rent. They have an opinion of its capital value & rental value & they are sticking to it.
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Old 05.03.2021, 09:17
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Re: Finding a replacement tenant for grossly overpriced apartment

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Probably because they would take a hit on the balance sheet if they reduced the rent. They have an opinion of its capital value & rental value & they are sticking to it.
Reducing the rent sets a precedent. Offering an incentive is possible, because it is a one time thing. Offering a month's free rent as an incentive is okay. Go figure.
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Old 05.03.2021, 09:23
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Re: Finding a replacement tenant for grossly overpriced apartment

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Reducing the rent sets a precedent. Offering an incentive is possible, because it is a one time thing. Offering a month's free rent as an incentive is okay. Go figure.
There is this mantra that property values don't fall, it's not true, falls can be severe. Gearing is dangerous as Banks could make cash calls if the price of their security drops below the agreed percentage.
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Old 05.03.2021, 09:28
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Re: Finding a replacement tenant for grossly overpriced apartment

Rental is normally a long term thing, and it's hard to put rents up with an existing tenant.

If they reduce the rent by 10% and get a tenant three months earlier, the incomes become the same after 30 months and is 10% worse from then until the tenant leaves, which could easily be 10 years or more.

Assuming ten years for the next tenant, a 10% reduction only becomes the right decision if the place would otherwise be empty for over two years.
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Old 05.03.2021, 09:57
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Re: Finding a replacement tenant for grossly overpriced apartment

Hi,

you have 30 days to ask for a rent reduction if some condition apply.
You may not use this option, but you could suggest it to future tenants.
Here a story with reference to official websites: https://www.mustachianpost.com/2020/...-vacancy-rate/.

Hope it helps.
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Old 05.03.2021, 10:04
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Re: Finding a replacement tenant for grossly overpriced apartment

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We have a lease agreement which ends at the end of June.

The landlord has said we can leave early but we have to find a new tenant.

The problem is this apartment is way way overpriced and no one is interested. There are some bigger apartments in the area new builds which are less expensive.

We were clueless expats. Had no clue we were over paying.

Do we have any legal recourse to get the landlord to reduce the rent so that we can find someone else?
Obviously, no, you can't ask the landlord to reduce the rent so that you can find another tenant.

The rent is what it is, and the fact that you accepted it in the first place proves that it was priced at market level.

There is a chance that another "clueless expat" might snap up your apartment right away, but perhaps your only option is to pay until the end of June.

From what I have observed in the last 6-12 months is that many apartments have become available due to people down-sizing or relocating to more affordable areas due to Covid. So there are more properties for rent on the market than usual, which is why it is taking longer for some properties to rent out.
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Old 05.03.2021, 15:51
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Re: Finding a replacement tenant for grossly overpriced apartment

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Labelling yourself as a 'clueless expat' is no excuse for not having basic common sense and for not doing some basic due diligence on local rental prices before accepting a contract. You could have got a reasonable idea of rental prices with only a small amount of research.

Also you don't even provide any useful info so we have no clue:
  1. How big your place is
  2. Where it is located
  3. How much you are paying.

How can anyone give any useful input without these BASIC details?
We were kind of desperate to find a place. When we were looking we literally could not even get a viewing.

Here's the details:
https://flatfox.ch/en/flat/hintere-g...m-albis/365901
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Old 05.03.2021, 15:52
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Re: Finding a replacement tenant for grossly overpriced apartment

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Nothing stops you from offering incentives, such as offering to pay the first months rent.
This is a great idea, I didn't even think of this however I guess it would attract some people but also scare others away as they must be wondering why we are so desperate heheh
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Old 05.03.2021, 15:55
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Re: Finding a replacement tenant for grossly overpriced apartment

are you not advertising on Homegate? it does not seem that expensive.

when you were looking, did you call the agencies or did you fill out the forms on the web?
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Old 05.03.2021, 15:58
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Re: Finding a replacement tenant for grossly overpriced apartment

Either I am too long in Switzerland or too used to Zürich prices but that is hardly grossly overpriced?
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Old 05.03.2021, 16:01
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Re: Finding a replacement tenant for grossly overpriced apartment

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are you not advertising on Homegate? it does not seem that expensive.

when you were looking, did you call the agencies or did you fill out the forms on the web?
Yes I am on homegate. I placed the advertisement myself on Homegate and Flatfox. We looking for someone ideally middle of April.
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Old 05.03.2021, 16:02
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Re: Finding a replacement tenant for grossly overpriced apartment

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Either I am too long in Switzerland or too used to Zürich prices but that is hardly grossly overpriced?
For the area its the most expensive flat of this size available. Remember this is not in Zurich, this is in a dead little village 20 minutes by train from Zurich.

In Zurich this price is totally normal.
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Old 05.03.2021, 16:07
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Re: Finding a replacement tenant for grossly overpriced apartment

your teaser text on Homegate is in English, this will put some people off.

There are more expensive 3.5 room places. The market certainly won't be dog-eat-dog like in Zurich, that's for sure.
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Old 05.03.2021, 16:08
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Re: Finding a replacement tenant for grossly overpriced apartment

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You might have more interest if you place an ad on Homegate.
Yeah I have it on homegate and Flatfox. The only interest I get is from these two sites.

I got not even a single message from Tutti and Anibis.
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