We’ve been conditioned to think that rent is this fixed bill which we’re at the mercy of the landlord to decide. What is lost on many renters, though, is that it really is possible to negotiate your rent downwards.
How to Negotiate a Lower Rent Before Moving In
At the end of the day, leasing houses is a business like any other. While uncommon in this line, it doesn’t mean negotiation is off the table. However, your success will hinge a lot on the prevailing circumstances.
How to Negotiate Rent
For example, it can be hard to convince your landlord to give you a discount when apartments and houses are being snapped up within a few hours of listing in peak season.
Then again, so it is with most other items – when the demand is above the roof and supply can’t seem to keep up, getting a good deal can be a challenge. Timing is key.
Obviously, if haggling is not your thing, approaching the landlord with this kind of offer can be a bit of an uphill battle as it means going out of your comfort zone. Ultimately, it will come down to how much you think you could use the waiver, but hey, it’s worth the shot!
As a new tenant, negotiating a lease may not seem like the best way to get off on the right foot with your landlord. But you’re playing the long game here that will benefit you in the long term, not disclosing to them how you can’t afford their expensive housing. That means the approach you adopt will determine your success rate
Ideally, it’s better to negotiate when you’re house hunting. Once you find a place and manage to come to a consensus with your landlord-to-be, then you can hire some ideal professional movers to bring your stuff over.
Don’t wait until it’s too late. The process of evaluating moving companies should be done weeks before, which shouldn’t be a problem considering you already have an idea of the dates you’ll be moving out. That said, here are some tips that should come in handy when negotiating a lower rent as a new tenant.
Consider paying several months at once
The rent collection time is a great time for landlords, but it can also be a pain when they have to chase late payments. That’s one aspect about rent collection nobody literally looks forward to. If you can cough up a couple of months upfront, that can give your landlord something to think about.
Consider the time of year
As we alluded to earlier, the best time to negotiate a lower lease is during the low season. The rent and moving industry have seasonal trends you can always use to your advantage.
Typically, winter is a good time to bring up the topic. Why? It’s harder for landlords to find tenants at this time of year so they’re likely to be easier to persuade than summer season when everyone and their neighbor is scrambling for rentals.
Can you plan for a longer lease?
A longer lease is tricky as it can tie you down, but assuming you’ve found this perfect place and you don’t plan to shift anytime soon, it’s something you can consider.
If the lease on the table is for 12 months, for instance, putting forward an 18- or 24-month proposition can be a good bargaining chip. But for that to sail through, you need to…
Sell yourself as a good tenant
One way you can do this is to come with a few letters of recommendation from your previous landlords.
Landlords bite through personal references like this, especially if they are glowing in their review. If you can convince them you’d be a tenant worth having, a good number would be willing to take you up, double so if you intend to stay for a while. Don’t forget to…
Get your negotiation in writing
If you manage to sweet-talk your way to a lower rental rate, as with all things money, it is important to get your agreement down in writing.
That should provide proof of your newly negotiated rate and act as a paper trail. Not to suggest the landlord will renege, but just in case. You just never know.
