Thursday, January 7, 2016

How to Bargain for Lower Rent


You've found the ideal apartment to live in, but the cost of monthly rent has given you second thought. How can you bargain for a better deal?

Consider comparative costs
Compare the rental cost of the apartment to similar properties for rent within the same area. Point out any advantages that these other properties may have over the apartment you want; use them to try to bargain for lower rent.

Take demand into account
How many people are looking to rent in the same location? Get to know the neighborhood. See whether there's a lot of vacancies in the area, which should spell out an advantage for you, as the renter. If the apartment has been sitting empty for some time, your landlord may be more amenable to letting you rent it for less.

Be polite, reasonable, and confident
As in any business transaction, be polite and respectful. Strike up an appropriately friendly or professional demeanor when you're talking to your landlord. Be reasonable with your request. Bargaining for rent that's too cheap may well cost you the apartment. However, you need to be confident with the request as well. Confidence states that you know you're deserving of what you're asking for.

Provide strong credentials
Present yourself as a dream tenant -- someone who's responsible and personable; a tenant whom the landlord can get along with, and who will take care of the property and pay its rent on time. Prepare your bio-data and character references from a previous landlord or from your superior at work. 

Create competition
Tell your landlord you have cheaper options, and that you're considering these alternatives -- even if these properties don't actually exist. It's a standard negotiating tactic. Your landlord will be more open to compromise if he thinks the "competition" offers something better.


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