4 Ways To Negotiate Cost When Finding A Property Rental

Are you looking for a rental within a specific budget? Sometimes it can seem as though properties are priced entirely at random and it can be difficult to find one that both suits your needs and your resources. Here are a few tips for negotiating costs when you do find the property rental that you've been waiting for.

1. Complete Repairs and Maintenance

Is the property that you're looking at in need of repairs? If you have any type of handyman experience, you may be able to rent the property for less by promising to fix it up. Small things such as painting a property--and larger things, such as doing some tile work--are usually fairly accessible to even the inexperienced, and they have significant value to a landlord. Once you leave, the landlord will be able to rent out the property for much more, or even sell it.

2. Work With a Property Management Company

Property management companies like CNY Property Management are often aware of how low they can go on their units and can help you find a unit that is within your budget. Even if the property management company cannot give you a lower rate, they often have a huge inventory of properties and can find one that is similar to the one you're interested in at a lower price. 

3. Inquire Again Later

Keep an eye on the properties that you've applied to. If one of them has remained on the market for a couple of months, you may want to inquire again. Landlords will be far more willing to negotiate on the rental price if it appears that their rental price is too high for the market. Not all landlords know how to price their rentals, so they may simply have to reduce their rental rates as they go. 

4. Ask About a Longer Term

Often, landlords will be willing to offer lowered rent in exchange for a longer term--after all, they want a renter that will stay a long time. A single month unoccupied is profit out of their pocket. Ask them how much of a discount they would be willing to offer for a one-year or even two-year lease.

Don't forget that there are a lot of rentals out there. If you don't need to get a new place immediately, it can be worthwhile to simply wait for the perfect one. Getting too attached to a property rental can be very dangerous if it's out of your budget.