Renting a Home - The Budget Friendly Way
Living on rent can be flexible and tricky sometimes. There are many things you should understand when renting . It is even more difficult to rent a home when you have financial difficulties. Among the other things like finding the cheapest place, you have to learn how to negotiate your rent with the landlord. You should know how to negotiate lower prices. This is a very good way to rent a home when your finances are low.
If you are not one of those people who can easily negotiate lower prices, then you can use the tips given in this article to help you successfully negotiate.
First of all, get all the information you can about your landlord. Understand how much are other people in your building paying, this will give you an idea whether the price you have to pay is fair. It will also help you figure out whether it is realistic for you to ask for lower prices.
Many people prefer hiring a broker when they are looking for a place to rent. Even though, this is a good idea, I suggest that you do the search yourself and try to contact the landlord, so you can negotiate the price. Plus, when you do it yourself you don't have to pay additional money to the real estate agency.
If you decide to negotiate it will be best to give your landlord the offer in last minute. The owner will be more likely to agree with your offer, if it is at the end of the month and he has not found any renters. Sometimes, the owner will prefer to accept lower offer than to risk having the place empty. If you approach the owner with your offer you risk your offer to be declined, since the owner still has time to find another renter.
In order to be a good negotiator you have to know all your options and alternatives. This is why, it is a good idea to determine and investigate all your options and then to decide whether and how to negotiate.
Another important thing about negotiating is that, you have to get comfortable dealing with the situation in which you don't know what the result will be.
When you have done your research you should know whether the landlord will accept your offer. If you have decided that, it is impossible to get a lower price you can find other ways to reduce the money you have to pay. For instance, you can agree to pay a higher price, but you can negotiate some repairs that you need to be done. Thus, you may pay higher prices , but you will cut on the money you have to pay later for repairs.
When you are negotiating don't forget the most important rule: make the offer attractive to the landlord; show him how he/she can benefit from accepting your offer. You have to be smooth and flexible and aggressive at the same time. Don't take the first offer , but negotiate until you get to the win- win situation. Keep in mind that if you are renting the place for a long time, the landlord will probably try to raise the price with time. This is why you have to sign a contract, which states the amount of money you have to pay and for how long you will pay that amount. Eventually , your landlord may still raise the rent , but at least you will have the guarantee that you will be paying less money for a set period of time.