Negotiating Your Rent

Negotiating Your Rent

Donald Trump, a tough negotiatorIf you lease is due for renewal it may be worth testing your haggling skills to negotiate your rent. With the budget due to take a new chunk out our wage starting in May now has never been a better time to seek a lower rental price.

Although there are … no hard and fast rules to convince your landlord to reduce your rent, here are a few tips to help you out:

  1. Be nice to your Landlord / Letting Agent – yes mention the faults like the leaky shower, the broken toilet and the lumpy mattress but at the same time don”t stand there ranting and raving about how terrible the property is. Don”t forget you need to have them on your side too!
  2. If you were a good tenant, tell them. Have you always paid rent on time? Been a good neighbour? Been living in the property for over a year? It is in their benefit to keep on a good sitting tenant rather than bear the costs of finding a new one. However if you have been a bit lax on making the rent or been partying too hard this may reduce your chances of negotiation.
  3. Let them know what other properties are available in the area for your budget. Although this carries the risk of the Agent / Landlord telling you to either take their offer or ‘get on yer bike!’
  4. Be bold. Make a lower offer and be prepared to meet halfway. So if you currently pay €1200 make an offer €950 and hopefully you can get it for €1100.

It’s a renters market out there so remember ‘if you don”t ask, you don’t get’.

There are 4 comments for this article
  1. Real Estate Noida at 12:55 pm

    I am fully satisfied with the post, It is not only interesting but also is a informative article. Can you please provide me some more links for similar articles.

  2. Tommy Keane at 9:38 pm

    I asked my landlord to reduce my rent from €1,350 to €1,150. He had no choice but to accept.

    If you haven’t asked yet, do it now – you are throwing away money if you don’t.

  3. Paul at 2:48 pm

    You do not even need great haggling skills – landlords are dropping rent to keep their tenants

  4. John at 12:13 pm

    Good article. Now is definitely the time for haggling. So much so that if your buying anything of value the sales person is nearly expecting to be asked for a better price.

    Cash is king…. Pay in cash if you can and try and get the credit card charge the retailer is being charged as a discount! Could be up to 2%.

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