Wednesday, May 12, 2010

Apartment hunting and haggling rent?

So I am looking for apartments and I'm down to 2 places. Choice A I prefer right now, but only by a slim margin over choice B. Has anyone ever had experience negotiating rent prices with landlords? I'm trying to knock off another $20/month and that would pretty much be incentive enough for me to pick B over A.Apartment hunting and haggling rent?
No. Landlords rarely negotiate. Asking for less rent right off the bat shows that you think you cannot afford it which looks bad. They are much less likely to rent to you if even you don't think you can pay the rent.Apartment hunting and haggling rent?
The first comment is misguided.





What rent you pay is more a function of supply/demand for apartments in the area you are looking and the length of the lease you are willing to commit to. If there isn't a high vacancy rate at the apartment complex, then the property manager is probably not gonna haggle.





But if 20% of the units are vacant and she has someone with decent credit wanting to get into an apartment for say $600 a month on a TWELVE-MONTH lease.





That's $7,200 rental income a year. Does it make sense to potentially forgo $7,200 of income because she has to give a discount of $240. That would be penny wise and pound foolish.





However, if you were on a month-to-month lease, she may not haggle because she ain't guaranteed 12 months of rental income. You can move out anytime you want, typically with 30 days notice so she can't count on a continued stream of income like in the first example.





Hope this helps.

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