When placing a property up for rent, landlords will advertise a specific rental price. Many renters think these rates are set in stone, but the reality is that you can negotiate your rent.
CNN explains that you should prepare yourself to negotiate a rent amount. You need to have some background information that strengthens your case for a different price. You should also keep in mind that rent negotiation is not just for new rentals. You can negotiate when your lease renews, too.
Know how to approach
It is important going into negotiations that you make sure you know your landlord’s position. You need to consider what he or she wants. Consider conversations you have had. For example, if you are renegotiating your lease and your landlord has talked about how nice of a tenant you are in the past, then use that as part of your pitch. After all, keeping you may be better than taking on an unknown tenant.
You will need evidence to back up your request. You should look into comparable rents in the area. Do an assessment of the current market. Make sure you find concrete facts to back up any claims you will make to support the rent you want to pay.
Be sure to check that you are not in a situation where there are many people vying for the unit because the landlord has little reason to negotiate the price when there are others willing to pay the set rate. You want to go into negotiations with the upper hand and a good case to make for the landlord to take you seriously.