Talk It Down

Some ways to negotiate your rent

According to a study by RentCafe, the number of cities with more renters than homeowners has increased by more than 50 percent since 2007. While more people are preferring to rent, let’s also hope they know that they can negotiate their monthly fees. That’s right. If you’re on the hunt for a new apartment, you can — and should — haggle for the best price available. Here are some ways to do it.

Know the rate. Go into the negotiations knowing that the current vacancy rate and — if it’s high — be sure to mention it. You don’t need to be forceful about it, but casually bringing it up will be a big hint to your landlord that you have done your research and are ready to walk if need be.

Be unemotional. As Yahoo reports, try to be as unemotional as possible. Remember that there are plenty of apartments out there, and you don’t need to overspend for one that seems “just right.”

Have a price. It will help you if you have your set price in mind. Go over your budget and determine what you can afford. Having a hard line price will make it easier for you to either accept or reject any counter from your landlord.

Be ready. Go into the negotiations with all the necessary paperwork already completed. Your landlord might not like haggling over the rent, but he or she will like hearing that once you agree on a number, everything is good to go.

Pay on time. If you want a landlord to negotiate with you, it’s helpful to have a good history as a tenant. Pay your rent on time and be respectful to apartment, its grounds and your neighbors. This will go a long way toward either re-upping a current contract or moving to a new space. You current landlord will be eager to keep a good tenant around, and a new landlord will be excited about bringing a good tenant on board.

Chris O'Shea

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