Updated:
Original:

How to Negotiate Your Rent

If you want to renegotiate your current rent or are looking to move into a new location, take action and be happy with your terms by negotiating your rent.

Instructions

  • Step 1: Research Look in the newspaper, attend open houses, and call a local realtor to find out the value of comparable rentals in your neighborhood.
  • Step 2: Ask neighbors Ask your neighbors or other tenants in the building what they are paying for rent.
  • Step 3: Talk to your landlord Talk to your landlord and negotiate the rent. Propose an offer, asking lower than you know you will get.
  • TIP: Do not accept the first offer.
  • Step 4: Look at options Look at alternative options if you do not get the rent you were looking for such as free parking or new carpet.
  • Step 5: Ask for a break Ask your landlord if they will give you a break in the rent if you pay before the first of the month.
  • Step 6: Talk about your qualities Express your good qualities to your landlord such as your good credit, timeliness, cleanliness, lack of pets or children, or the fact that you do not cause problems, if applicable.
  • Step 7: Take a longer lease Offer a longer lease for lower rent. Landlords will not have to worry about cleaning, painting, or getting another tenant if you are willing to sign a longer lease, and they may be more willing to accept lower rent.
  • FACT: According to Roger Dawson, author of the book Secrets of Power Negotiating, 80 percent of concessions come in the last 20 percent of time left to negotiate.

You Will Need

  • Research
  • Communication skills
  • Negotiating skills
  • Alternative options

Popular Categories