When looking seriously into a potential new home, tenants must be ready to negotiate the terms of their lease agreements. While the rent price is important, other conditions can hold just as much weight and should be considered in negotiations. The following tips from PostServicesSimplified.org will help tenants acquire the best deals for their new homes.
Don’t Jump the Gun
It is not recommended that someone seeking a new home immediately call a renter or a landlord with a demand for price negotiation before even putting forth an application to show interest. Trying to negotiate a lower rent rate prior to meeting or speaking with a proprietor about the property makes a potential tenant seem rude and pushy. PostServicesSimplified.org experts found that getting ahead of oneself in the negotiation process can put off a property-owner and lose someone an opportunity for a new home.
Find Middle Ground
You cannot expect to get everything you want from a contract, therefore it is important to be flexible and find middle ground. While a landlord may not be able to allow a reduced rental rate for the full contract period, he or she may be willing to provide a deduction for the first month or two with a graduated increase for the remainder of the lease. The experts at PostServicesSimplified.org found that many proprietors require the first two months’ rent upfront, so that may be a negotiating point in lieu of a lowered rent.
Offer an Exchange
If a renter is willing to provide a lowered price, the tenant should offer something in exchange as a show of good faith. Instead of signing a standard one-year lease contract, perhaps he or she can agree to a longer lease for the lower rent rate. PostServicesSimplified.org team members remind potential tenants that it is good form to establish a positive relationship with the potential landlord straight off the bat.
When it comes to negotiating, the best practice is to be upfront about what you want. There is no point in using vague or misleading language, as that does not accomplish anything. The PostServicesSimplified.org team believes speaking plainly about what you are looking for in terms of rent is the best way to open a dialogue for negotiating something you can both be happy with in the long term. Stating your interest in a place and being honest about your price range can make a landlord more open to lowering the price of the offer.
Research the Neighborhood and Market
Doing some background research on the type of home you are looking to rent and what other similar places in that same neighborhood are going for will give your negotiations a solid foundation. If the landlord’s asking price is significantly above the market price, you have the research to back up your argument for a lower rental price.
Consider Benefits, Not Just Rent
Rent price is important, but so are certain benefits that can come from having a landlord. If a tenant cannot get a proprietor to agree on a lowered rate, then perhaps he or she can request the renter be responsible for repairs or services such as carpet cleaning. Having maintenance costs taken care of by the landlord can outweigh the downside of a higher rent.