Strategies To Use When You Negotiate Your Apartment Rent

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When I put my house on the market, nobody told me about the flurry of real estate agent meetings, showings, open houses, and staging appointments. When you add the paperwork, I was overwhelmed. After the process was over and I left the closing, I decided to create a website that focused on all of those things that I didn't know I'd have to do. My goal for this site is to make sure that other first-time sellers have a resource to learn what they can expect from the sale and closing process. I hope that the posts here help you prepare for your first sale with the confidence of an old pro.

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Strategies To Use When You Negotiate Your Apartment Rent

20 December 2016
 Categories: , Blog

When you live in an apartment, the rent that you pay each month might be strict — or, depending on the landlord or rental company, it might be negotiable. Few companies will advertise that their rental rates are up for negotiation, so it never hurts to ask your landlord even if you've lived in the unit for a long time. The worst the landlord can tell you is that your rent can't be negotiated, but if you use the following strategies during this conversation, you may end up getting a favorable answer. Here are some approaches to use.

You've Been A Low-Effort Tenant

If you've lived in the apartment for a long time and have made the landlord's life easy, make sure to bring up this point during a negotiation. So-called "problem tenants" are constantly contacting the landlord with questions or problems; if you've seldom or never done so, you can bet on the fact that the landlord appreciates this. Many landlords are eager to keep good tenants happy, as it will encourage the tenants to remain in the apartment longer. Simply bringing up your positive track record may help you get a lower rate.

You've Done Repair Work On The Apartment

Depending on the arrangement between the landlord and the tenants, apartment residents may occasionally be able to do repair work on their units if they're qualified. If you're a contractor, for example, it's possible that your landlord permitted you to put new flooring in your unit or renovate the bathroom. While these things will make your tenure in your apartment more pleasant, they'll also allow the landlord to charge more in rent to the next tenant who occupies the space — and without having to spend money on these upgrades. In some cases, this point may encourage the landlord to drop your rent a bit.

You've Brought Fellow Residents Into The Apartment

If you've enjoyed living in the apartment to the point that you encouraged some friends to rent units in the building, this has made the landlord's life easier. In some rental scenarios, landlords will pay tenants referral bonuses. If these bonuses aren't set up in your apartment, ask if you might be able to get a bit of money off your monthly rent instead. Have the landlord check the rental agreements for your friends; in some cases, they'll have filled out a section with your name that asked them how they found out about the apartment.

For more information, contact local professionals like ABA Rental Properties Inc.