With the economy the way it is, now is a better time than ever to negotiate the price of rent. Whether you're looking for a place or thinking about renewing you lease, it never hurts to ask. But before you make your demands, there are a few things you need to do.
First, you need to know the rental market in your area. Do some research to find out what other tenants are paying--both in the complex and in the neighborhood. Go to open houses, talk to neighbors, and look through the classifieds and online listings. This will allow you to decide whether or not it would be realistic to request a lower rent and, if it is, how much lower would be practical. (You don't want to ask for a price that's too low and risk offending your landlord. You should, however, ask lower than you need so you have some room to negotiate. And don't accept the first offer.)
Next, you need to plan your timing. If you're searching for a new apartment, it might be best to make an offer at the last minute. If a landlord hasn't found a renter and it's near the end of the month, he or she may be willing to negotiate the price and accept a lower rent than get none at all. On the other hand, asking at the beginning of the month might not help you that much, unless the property has been vacant for a while. On the same token, you probably won't have much success haggling over the rent for a lakeside apartment if it's right before summer. If you want to renew your lease, approach your landlord with plenty of time before the lease expires. That way, the landlord knows if you don't get the price you want, you'll still have time to find another place.
Finally, understand the options for both sides. If you don't get the price you want, will you leave or will you deal with it? What's the benefit to the landlord to lowering the rent? Will he or she be able to find a new tenant without difficulty? Will the loss in rent make up for the money he or she would have spent to prepare the apartment for a new occupant? The side with fewer options has the least power, so know where you stand before you ask.
If your landlord won't budge, try for a compromise. Maybe you can get some new paint or a better parking space instead.
Author Resource:-
Joyce Lebedew real Estate (http://www.joycelebedewrealestate.com/view_rentals.asp) offers pet friendly and fully furnished South Boston Apartments.
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