How to negotiate the price of an property

Finding an apartment is stressful, especially when the monthly prices of the units you review are above your budget! Fortunately, advertised rents aren’t set in stone, but that doesn’t mean it’s easy to get your rent reduced. How can you lower the price of an apartment that is on your heart?

Research the rental market

If it’s a homeowners market and there are hardly any vacancies, you may need to be more competitive to find a place in your chosen location, but it always pays to thoroughly research the rental classifieds to see what the going rate is. for nearby similar units. Don’t forget to talk to the locals who are renting, if possible, asking people in the building or down the street about their monthly rent is a great way to get an idea of what is standard.

Choose the correct number.

Let’s say you want a $100 reduction on your rent; It might be a good idea to ask for a $200 rebate, that way your landlord can meet you in the middle and neither of you feels ripped off. Be careful about asking too low a price, as insulting the landlord will end negotiations before they start. Please be reasonable and in line with market rates.

Meet the owner

If you are a current tenant who may or may not renew, this is an ideal situation for you, as long as you have been a good tenant that they would be eager to keep. If you are looking for an apartment with a new landlord, try to get to know their personality and see if you can find out if there are many vacancies in their units. If they have a good number of openings, they may be more willing to negotiate.

Calculate how long the apartment has been on the market.

Check the date the ClassifiedsEU apartment was listed and do some searching online to see if you can find evidence that it has been on the market longer. If it has been more than a month, the landlord may be worried about having an empty apartment and may be more willing than usual to negotiate.

Be respectful

In case the landlord is not willing to negotiate, leave or move to the next apartment.

Consider a broker

Many brokers are paid by landlords for finding them a tenant, not by the tenant. If you think you won’t be able to negotiate a deal, hiring a professional could save you money.

Choose your time.

A landlord is more likely to be open to negotiations near the end of the month if he moves into a new apartment, since the unit is more likely to sit vacant for a month. If you’re a current tenant looking for an adjustment, be sure to leave enough time for them to find a new apartment they’re happy with if negotiations don’t go as planned.
Practice negotiating. Remember that you deserve the break in the rent that you are asking for. Don’t hesitate or show weakness, and negotiate for smaller items that lead to your planned discussion.