The first thing you need to do when looking for an apartment is to do your research. It is important that before you consider negotiating rent with a landlord, you first have an understanding the building. Be adaptable to what the Landlord is looking for in a tenant. If the location is extremely popular and has a very long waiting list, chances are, you will probably not be able to get a reduction in rent. There are many opportunities however to get a reduction in rent. You need to find out if there are issues with pets in the building and then agree not to get one. Sign something that agrees that you will not smoke in the building or have loud parties, overnight guests or use certain amenities. Think about more than just the rent when you discuss renting with the Landlord and make him an offer.
Another thing that you might consider when discussing a rental with a Landlord is paying a portion of your rent up front. This option may not be available to some people. Paying 6 months of rent up front may not only secure the unit for you but also gain you a small discount on rent.
Offering to Stay Longer if the landlord is asking you to sign a 12 month lease is another way to beat the competition when looking for an apartment and getting the one you want. You can offer to sign a 2 year lease which gives the Landlord the peace of mind of knowing that he will not have to repeat the process in 12 months.
You can also give something up to the landlord for a small reduction in rent. Parking spaces that you don’t need can easily be rented out by the Landlord to someone else. Letting him know that you don’t need it can also net you a small reduction in rent.
Landlords are usually pretty open to Tenants helping out around the property. You can offer to help out with some building maintenance like taking out the garbage, cleaning hallways or other common areas, mowing grass and shoveling snow. Offering to take these tasks off the Landlords plate is a great way to get a property at a better rent. Moving in slow periods such as the winter, Christmas or mid-month, it can make your landlord’s life easier and therefore also net you a small reduction in rent. Allowing the landlord time to prepare the unit for new tenants by negotiating move out times to their advantage is also a good idea.
Always be polite, professional and reasonable when negotiating rent with a Landlord. Make sure that you have at least first and last months rent, referrals from previous landlords if possible and a great credit history. All of these things will ensure the best possible chance of securing the rental unit.
What is the difference between a lease and rent, are they the same?
When you rent out a property, you will need to decide if you wish to offer your tenants a lease or a rental agreement. Although these terms are often used interchangeably, they are not the same. A lease has a set term, such as six months or a year, during which the tenant agrees to rent the property.