How To Negotiate Rent With An Apartment

How To Negotiate Rent With An Apartment

6 October 2018
 Categories: Real Estate, Blog

If you want to rent an apartment and find out that there are a lot of apartments listed for rent, you may be able to get a lower price on your rent if you can negotiate well with a property manager. Negotiating on the rent price is not all that uncommon, and here are some tips to help you achieve a lower price on rent through proper negotiations.

Compare the price to similar apartments

Before you start negotiating with prices, you should make sure that you have a good reason to do so, and one of the top reasons is if the apartment you like is priced way higher than similar ones in your area. For example, if you are looking at an apartment that is $800 a month and all other similar ones are only $700, you could use this factor as a bargaining tool with the landlord. You could state that the price is higher than others, and you could ask the landlord to lower it.

Give your background history

For a landlord to agree to lower the price, you will need to produce evidence and information that will back up your request. A great piece of evidence to use is your background history. If you have great credit, explain this to the landlord. If you have never paid your rent late in the past two years, provide a letter that proves this.

Offer to pay upfront rent

Another option you could throw in is offering to pay the rent upfront for the next few months if the landlord agrees to reduce the price. Getting cash upfront is a great incentive for a landlord, and this could help convince him or her to give you a lower price.

State the benefits you will offer

Finally, you will need to tell the landlord all the reasons he or she should agree to this and rent the unit to you. A good credit score is one reason, but there are a lot of others. For example, you could tell the landlord that you are a peaceful person who will not cause any problems. You can explain that you will care for the unit as if it were your own, and you could state any other details that would make you come across as an ideal tenant.

Negotiating for rent price is something you could try, and it might be beneficial if you can convince the landlord to lower the rent. To learn more, contact a property management firm today.