How To Negotiate an Apartment Lease

Research the housing and rental markets in the immediate area. Ask around to find out what other tenants and neighbors are paying, and if they have any special deals with the landlord. If they do, you should too.

Ask the landlord for a copy of the lease before agreeing to move in and thoroughly review it. Make note of any stipulations that are NOT in your favor.

Now that you’re intimate with all the details – and possible drawbacks – of the apartment, inform the landlord that you really want to move in, but there are a few “issues” you’d like to “iron out” first. Landlords hate “issues.”

If and when the landlord is ready to talk, you should immediately – and without explanation – make a counteroffer on the amount of rent you’ll pay. A 5% reduction is a good starting point.

Weather the landlord’s tirade, then calmly list all the reasons you should be paying less: the average neighborhood rents are lower than what he’s asking, the building has a bug problem, the nearest bus stop is a mile away, etc.

If the landlord won’t budge off the amount of rent, offer a lower reduction, say 3 percent, as a compromise. If they still won’t budge, focus on another area – like getting certain utilities or services included in the rent, or reducing the security deposit.

Always get any negotiated settlements in writing – once you do, shake hands with your new business partner, and sign away.