5 Ways to Negotiate Your Rent
You can always find a way to negotiate your rent no matter what. It could be when you are hunting for a new place or when your current landlord wants to hike the rent of the current apartment. In this article, we are going to discuss 5 ways in which you can negotiate your rent and win over the landlord. Let’s get started.
Check if the Cost of Rent is Open for Discussion
The first thing that you need to do is to check with the landlord if the rent price is open for discussion. If it is, then ask him or her politely when would be a good time for the talk. Keep in mind that you will most likely be able to negotiate your rent on the terms more easily if you are talking to an independent landlord and not a large property company.
Also, if you are not looking for a new place and facing an increase in rent from the current landlord, then make sure that you initiate this same conversation at least from a month before. This will enable your landlord to have enough time on his or her hands to consider your offer. Additionally, on the off chance that the negotiation goes sideways, you will have enough time on your hands to be able to make other plans as well. Therefore, it is a win-win situation.
Let Them Know Your Strengths as a Tenant
Always let your landlord know about your strengths as a tenant, especially in the case of a rent increase. You can simply do this by reminding him or her that how reliable and responsible you have been so far as a tenant. Make sure your landlord is aware of the fact that you have always paid your rent on time, kept the property in a very good share, and so on. If you are successful at proving your worthiness to your landlord, then you will surely find a stable rent price or at most a slight increase in rent.
Ask About the Extension of the Lease
If you plan to stay at your current apartment for a substantial time, then it wouldn’t hurt for you to let your landlord know the same. You could offer your landlord to extend your lease for a longer duration in exchange for keeping your current rent.
Try to Offer Ending the Lease in the Summer
Offering to end your lease in the summer can be an attractive option for a landlord because summer is usually an easier time to find tenants. Therefore, it is possible for them to be willing to reduce the rent in exchange for the convenient end date that you proposed.
Negotiate Directly, Follow Up in Writing
Always make sure that you follow up on the negotiation discussion with your landlord within 24 hours with a brief email wherein you thank him or her for the meeting you. This will enable your landlord to make a prompt decision and not linger around with the decision making which could ultimately lead to him or her forgetting about the details of the conversation he/she had with you.
