How to negotiate the best rent possible
So, what are the best ways to negotiate on your rental price?
- Don’t be afraid to make an offer! As soon as a landlord lists their property it is an “invitation to treat” or make an offer. They are hoping to receive offers from potential renters and the worst thing that they can say to any offer is “no”. Just be careful of making a derisory offer as it may offend the landlord and put their back up for any ongoing negotiations.
- Be as flexible as you can. When you put forward an offer it is important to remember that the rent is only one of the factors for the landlord to consider. The other factors which make up the offer are the start date, the length of tenancy and any other requirements or conditions. If you can offer to move on the available date, for a long term with no additional requirements it is likely the landlord will be more inclined to accept a lower rental figure.
- Sell yourself to the agent. 9 times out of 10 you will be renting through an agency and they will be putting forward any offers to the landlord on your behalf. Remember that the agent works for the landlord, so should be trying to negotiate the best possible deal for their client rather than you. However, the easier you can make it for the agent the better. Come to them with references in hand, point out all of the positives of you and your family and make them believe it is in the landlord’s best interest to have you as tenants.
There’s no guarantee
It isn’t always a guarantee that you will be able to achieve a reduced rent, but if you bear these 3 easy points in mind when you are negotiating you will be giving yourself the best opportunity. A word of caution, though – if you have found a property you love and there is another party interested, you may need to think about these points and pay the asking price just to secure it!