Tips for Young Tenants: How to Negotiate the Rental of a Property

Are you looking for a house on rent but have fallen for a property that doesn’t suit your budget? There are times when landlords or landladies may not agree to lower the rents after seeing that the potential tenant is a young and inexperienced individual.

In such a case, it can be a tough ordeal to go through the process of negotiation but there are ways by which you can manage to bring down the rental values.

houses for rent

The rent can always be negotiated, especially if you are determined enough.

So before you innocently hand over a pile of money as the rent and deposit, make sure you check out the following negotiation techniques that will help you pay lower rent.

1.    Compare prices of real estate in the area

If you’re looking to move to a particular neighborhood or city, it is essential that you take a look at similar houses for rent in the area and their rental values. You can use this enlightening experience to your advantage.

You can also surf the internet to find a house for rent with the same built-up area and see the average rent you can pay for it. If this apartment is available for less monthly rental, then you must bring it to the landlord’s attention while negotiating the deal.

2.    Offer your services to the landlord

If haggling does not work, this certainly will. Pay attention to the services needed by the homeowner when you visit the house for a viewing. Analyze what you can do around the house in order to get the rent reduced.

For instance, you can offer to rake leaves, paint the apartment, shovel snow or babysit the children. The owner may even bring up a casual conversation that could benefit your purpose, like mentioning that he has to leave the home once a month. For a situation like this, you could offer to board his dog and in turn, he could lower your rent, instead of paying you.

3.    Provide credible references

Almost all landlords have had bad experiences with their previous tenants and the last thing they want is to go through another bad experience. You are young and sometimes people may perceive you to be reckless.

Make sure you create a good image in front of your landlord from the start. For this, you must provide references from your past as well as a current landlord so that this deal materializes with the owner agreeing to receive lesser money for not having to put up with a badly behaved or irresponsible tenant. The references will help put the owner at ease and make you look deserving.

4.    Pay the money upfront

It is mandatory that you pay the deposit along with the first month’s rent, but not many tenants offer to pay extra dough in the beginning. You can offer to pay the rent for the next three months also.

This would show that you have the ability to pay the rent. Most landlords will prefer to acquire the rent upfront rather than spread it over time. Paying in bulk is a great opportunity for you to be able to bargain.

5.    Quote an amount and walk away

Even if you are desperate to immediately rent the house, politely tell the landlord that you can pay only a certain monthly amount and ask him or her to get in touch with you if they are willing to rent.

This way, even if the landlord is not willing to decrease the rent you will still exist on the list of potential tenants. Walking out the door on bad terms can completely wreck the deal for you. And who knows, you may just receive a call if no other tenant has occupied that real estate. Plus, you can’t be paying more than your budget just because the landlord was adamant.

These tips will help you get a good deal, in spite of having little real estate experience.

Author bio: Devika Arora is a professional writer dedicated to following the current real estate trends and writing guest posts and blog posts for the benefit of potential home buyers and tenants. In case you are looking for an apartment for rent in Ngoai Giao Doan, she suggests checking the sites like myhanoihome.com.

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