{"id":6336,"date":"2017-09-25T00:00:58","date_gmt":"2017-09-25T00:00:58","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/can-i-negotiate-cheaper-rent\/"},"modified":"2017-09-25T00:00:58","modified_gmt":"2017-09-25T00:00:58","slug":"can-i-negotiate-cheaper-rent","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/can-i-negotiate-cheaper-rent\/","title":{"rendered":"Can I negotiate cheaper rent?"},"content":{"rendered":"

<\/p>\n

\n

Renting in Australia\u2019s capital cities can be an expensive proposition.<\/strong><\/p>\n

So it makes sense that you might want to knock a few dollars off your weekly rental costs by asking your current or prospective landlord if they\u2019ll accept a cheaper rate.<\/p>\n

But are you actually able to negotiate cheaper rent?<\/p>\n

The short answer is yes, absolutely you can. If you put an offer<\/a> forward to a real estate<\/a> agent, they are required to take it to the landlord for consideration and a decision.<\/p>\n

Here are the things you should consider before making that call.<\/p>\n

\"why<\/p>\n

If you put a rental offer forward to a real estate agent<\/a>, they are required to take it to the landlord. Picture: Getty Images<\/p>\n<\/div>\n

Do your research<\/h2>\n

If you\u2019re going to request cheaper rent, you\u2019re going to need to back it up and prove that the property is worth less than what the landlord is asking.<\/p>\n

Hocking Stuart Richmond property manager Jo Leonardis says tenants need to compare other, similar properties in the area.<\/p>\n

\u201cMarket rent might suggest $780 per week, but tenants may have seen what\u2019s actually available in the market,\u201d Leonardis says.<\/p>\n

\u201cSo they start doing the research and they will back it up and say, \u2018Right, I know the landlord wants $780, but will they consider $750 because I\u2019ve seen X property down the road at $750 and it\u2019s got a car park, but this one doesn\u2019t?’\u201d<\/p>\n

\u201cThey\u2019ll be out there actively justifying why they could potentially lease the property at a lower rate.\u201d<\/p>\n

Looking for more information about renting? Here are a few videos to get you started:<\/strong><\/em><\/p>\n

Target properties that haven\u2019t leased<\/h2>\n

If you\u2019ve been searching for a rental for a while, you\u2019ll undoubtedly notice some properties that have remained on the rental market for an extended period of time.<\/p>\n

Leonardis says these properties can be good targets for cheaper rent, as the landlord will want to avoid the property being vacant.<\/p>\n

\u201cIt does work in the tenant\u2019s favour if the property has been on the market for at least four weeks, and will then become a vacancy,\u201d she says.<\/p>\n

\u201cIt happens every so often. It doesn\u2019t happen to the extent where there\u2019s a $30 difference (per week), but it might be $5 or $10, with negotiation.\u201d<\/p>\n

Similarly, if you arrive at an open for inspection and you\u2019re the only person there, you\u2019re in a far stronger position to negotiate than if 50 people turn up and create heavy competition.<\/p>\n

Leonardis also advises prospective tenants with a little time up their sleeve to keep checking on properties online that may have initially been just out of their price range, as the rent may drop if a tenant can\u2019t be found.<\/p>\n

\"young<\/p>\n

Keep your eye on properties that have remained on the rental market for an extended period of time. Picture: Getty<\/p>\n<\/div>\n

Rental history helps<\/h2>\n

Like with any rental, you\u2019ll be in the box seat to negotiate if you have an impeccable rental history with excellent references.<\/p>\n

\u201cIf the applicant looks fabulous on paper and they\u2019ve got great references, then the landlord might say, \u2018Right, let\u2019s do it at the $10 cheaper rate this year, but next year we\u2019ll bring it back up to market rates\u2019,\u201d Leonardis says.<\/p>\n

That\u2019s more than $500 back in your pocket, purely because you\u2019ve been a good tenant.<\/p>\n

\u201cIf they\u2019re a standout tenant, the landlord will mostly likely help them out initially, to try to get them in,\u201d she adds.<\/p>\n

Don\u2019t be afraid to be bold<\/h2>\n

In some areas it\u2019s a great time to be in the rental market, with plenty of property available and landlords subsequently prepared to be flexible in order to secure a tenant.<\/p>\n

So don\u2019t be afraid to test the waters and see what you can get. Leonardis says some prospective tenants even put down a lesser rental amount on their application, in the hope that the landlord will still accept it.<\/p>\n

\u201cLately what I\u2019ve been seeing is that tenants are becoming a little bit cheeky in trying to get the rents down. Because they know there\u2019s quite a bit of property out there, they think they can sway the landlord by putting an application in and being cheeky by making it a lower rent,\u201d she says.<\/p>\n

\u201c50% of the time it might work. I think they\u2019re becoming a little bit more aware that that\u2019s what you can do to get into a property if you really want it, if it\u2019s been vacant for a little while.\u201d<\/p>\n

\n <\/p><\/div>\n

Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Renting in Australia\u2019s capital cities can be an expensive proposition. So it makes sense that you … Can I negotiate cheaper rent?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5994,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[695,516,205,561,41,818,84,385,513,678,645,15296,907,3053],"class_list":["post-6336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-agent","tag-estate-agen","tag-estate-agent","tag-estate-agents","tag-property","tag-real","tag-real-estate","tag-real-estate-agent","tag-real-estate-agents","tag-rental","tag-renting","tag-target","tag-tenant","tag-tenants"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/why-use-real-estate-agent_2000x1500-1024x768.jpg?fit=1024%2C768&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":125942,"url":"https:\/\/amazingproperty.com.ng\/blog\/duplexes-for-rent\/","url_meta":{"origin":6336,"position":0},"title":"Duplexes For Rent","author":"Amazing Property","date":"October 2, 2023","format":"aside","excerpt":"Duplexes For Rent \u2013 Why They\u2019re a Great Option. 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