5 Tips For Negotiating Your Rent

6 mins read
negotiate your rent

With most people facing some sort of economic difficulty at the moment, it would be a great help if our biggest monthly outgoing, the rent, could be reduced. While this might be a pipe-dream in most cases, there are some ways in which you could make this become a reality if you only knew how.

Here are some tips that should help.

Gimme Shelter

Life would be so much easier if we didn’t have to pay rent. For most people, it is by far the largest monthly outgoing, and it is handed over just so that you can have a roof over your head.

Unfortunately, this is just the way of the world and unless you think about moving into an area that you probably wouldn’t want to live in, there is often very little you can do to change this fact.

All hope should not be lost, however, as there are a few tips and tricks that you can use when it comes to negotiating a new deal or modifying an old one. No guarantees come with this advice, but nor will it hurt to try. Good luck!

Know the Score

Information is king. When it comes to negotiating your rent, you must know what the going rate is in your particular neighborhood. It is very easy to get carried away with the idea of living in a certain place, and this is something that the landlord will always look to take advantage of.

Don’t be afraid to throw facts and figures around when it comes to negotiation, show him or her examples of very similar flats or houses in the same area that cost less. You have to remember that you are in control here.

Give and Take

A great bargaining tool is one that enables you to offer something to the landlord. If you are good at DIY or your job involves you working in a field that relates directly to the upkeep and improvement of the home, make sure that your potential landlord is aware of this.

If you offer to install some nice flooring or light fittings, or maybe do some landscaping in the garden, these are all really positive improvements that add value to the place you are living in. The landlord should offer some reduction in return for doing this, and you also get to live in a place that feels a little bit more like your own.

Tell the Truth

A big factor that is often overlooked is the fact that it is in your landlord’s best interests to have somebody who truly cares about the flat or the house living in it.

If you can show the landlord that you really respect the place you are looking at and that you would be the ideal person to take care of it, the chances are that they may be willing to give you a little reduction just because they can see that you will be a solid person that they can trust with their property.

This is probably a bit of a long shot, but you have nothing to lose being honest.

Be Thorough

You want to make a good impression when you go to see a potential new home but this often means that people don’t really make a proper inspection of the place they are looking at. When this happens, you end up finding little problems once you have moved in and the rent has been agreed upon.

The secret here is to approach any visits in a really professional way.

Check everything twice and make sure that the landlord is made aware of any little thing that is not right. As long as you don’t find any issues that are too serious, you can suggest to the landlord during rent negotiation that you take care of the many little issues that you have noticed. In return for a reduction in the monthly price, of course.

Commit

Landlords hate having to go through the whole rental process over and over again. Their lives are much easier if they can get somebody into their place on a long-term contract. This is something that you should definitely look to exploit when it comes to negotiating the rent.

Tell them that you will sign up for a five-year deal if that means that they bring the price down a bit. This kind of gesture may sound very grand but it is very little they can do to make you stick to that agreement if things change in the future.

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