Negotiating Cheaper Rent

Similar to negotiating prices when buying property, the same can be done when leasing a property.  If you think that the rent is too high, you can try a couple things to try and negotiate a better price.  Keep in mind, if the demand for housing is high, the landlord will probably look past you to the next potential tenant.

If you think the rent is high, check it.  If you are working with a realtor® ask them to compare it with the average lease prices in the area.  If the asked rent is too high in comparison, show them the statistics and ask them to reconsider.  If they disagree, try the following option: convince them that you are the best tenant ever and they won’t find one as good as you.  How do you do this?  Most landlords require that you have the following basic information:

   1.        Credit Check

   2.       Bank Statements

   3.       Job Letter

   4.       Previous Landlord information

   5.       Current Landlord Information

   6.       Personal References

Make sure these are all “up to par” and that you are in good standing.   Show them that you are a great tenant and won’t cause them any trouble.  If you are a handy person, try suggesting a trade of you fixing some little things for a reduced rent.

When you are asking for lower rent, be realistic.  If you ask right away for say ½ the rent, it’s probably not going to happen.  Also, be personal.  Tell them why you want to pay less without telling them you can’t afford it – if you tell them you can’t afford it, they will think you can’t pay your rent.  And lastly, if they say no, there are lots of other places for you to try.  Good luck!

If you are looking to lease a place, please do not hesitate to contact me.  I will be happy to assist you and negotiate on your behalf!

Sincerely,

Astra Mulawka
Sales Representative
Better Homes and Gardens
Real Estate Signature Service