Searching for a perfect rental property in any city can be difficult. Even if you find a house that suits your requirements, high rent is something that can hold you back. But, it is possible to negotiate rent. After all, leasing out a property is a business for every landlord. And, they often quote a higher price because there is a common perception that the tenant will negotiate the rent down.

In our opinion, saving on a small percentage of rent can save you thousands of rupees a year. It’s worth negotiating and gets the property at the best rental price. This will open up many opportunities for you and your family.

You might get a little nervous about the thought of haggling for the rent if it is the first time that you are negotiating. So, to help you with this situation, here we have shared some useful tips.

Tips to negotiate rent as a new tenant

·         Even if you like the property do not give an immediate satisfactory remark when you visit for a home inspection. It will be good that you take a family member along when visiting for the home inspection. And, instead of saying what you liked about the house, try to find a few faults in the property and talk about it to your companion. This will make the landlord feel that he should decrease the rent.

·         If you think understanding your situation, the landlord will decrease the rent himself, then that will never happen. So, you have to initiate the negotiation. Once you have started it, do not be too stringent. Let the other person feel he/she is winning, too.

·         Also, think about what your landlord would value in return for offering you a reduced rent. You should offer him a few lucrative offers, suggestive of how good you are as a tenant. For example, you can tell him that you will be paying the rent on time. Plus, you can assure that you will keep the house clean and well-maintained.

Tips to negotiate rent as an existing tenant

·         One of the major reasons that people have been switching homes every year because, after the termination of the lease period of 11 months, the rent of a house may increase by 10 percent as discussed in the rental agreement. So if you are not comfortable with the rental increase, then discuss this issue with the landlord.

·         Till now, you might have already created the impression of being a good tenant. So, the landlord will certainly want you to continue living in the house.

·         Check the rents of comparable apartments in your area before negotiating the rent with your landlord. If you find that other flats in your area are available at a lesser price, start making a list of examples. The more data you have, the better. If you are already paying lesser rent for your flat than the standard rate, you may not have much luck in negotiating.

·         Make sure your landlord does not sense that you rushed to find a place. Also, you should negotiate before your current lease expires. Talk to him in person as it’s tough to say no to someone who’s sitting across as compared with a person over the phone.​

Important note

Negotiations can be tricky, especially when you have no prior experience in bargaining. Just be confident in your questions and realistic with your expectations. Also, maintain a polite tone and be respectful of your landlord throughout the process.

Conclusion

Negotiating rent can help you save lots of money, which can be used for other purposes. For negotiating your rent, you should plan everything ahead. Make sure that you can show appropriate data regarding the cost of similar rental property in the society. Also, make the landlord feel that you are the most worthy person as a tenant.

Also read, Complete Guide to Renting a House in India

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