How to Negotiate Your Rent – Real Estate for Sale in Santa Monica

Posted by admin Posted in Uncategorized

As many potential buyers continue to shelve their purchase plans and opt to rent instead, vacancies are low, and rents, which take a big bite out of your household income, are high — up 5.8% in the Chicago metropolitan area, for example; up 8.3% in Philadelphia. This makes finding a place – at a price you can afford – nothing short of challenging. Here’s how to negotiate your rent:

Research rental prices

Zillow’s recent survey indicates that a whopping two-thirds of renters skip this step, and simply sign the lease, no questions asked. That’s because information about fair prices on rental homes have been hard to come by. Enter Zillow’s Rent Zestimates. Make this your starting point to determine the fair rental price of a home or apartment, and use this as a tool to negotiate your rent, too.  In addition, look at similar rental listings on Zillow, check out the classifieds, talk to local real estate agents or property manager who specializes in rentals. And research the demand for rentals in your area. Knowledge is power!

Sell yourself

If you have good credit (think: 720 or higher), solid references, a history of paying on time, a stable job and live your life responsibly and are respectful of others, that makes you a model tenant. And model tenants – extremely tough to come by in this current economic environment – save landlords both time and money.

Go long

Offer to sign a two-year lease at a one-year rate.  Some landlords may go for this arrangement, particularly if the unit has been vacant for some time or if the landlord has multiple vacancies (not unheard of, even though it’s technically their market). Plus, it saves them on cleanup and advertising costs.

Sweeten the pot

Landlords want to know what’s in it for them. See if they’ll give you a break on your rent if you agree to do some work – like mow the lawn, tend to the garden, etc. Or, consider paying several months worth of rent upfront, at a slightly reduced rate.

Don’t fixate on money

Assuming you’ve done your research and are not in a position to ask for lower rent, or are not getting results you want, what about asking for other concessions, like free parking, free storage space, or a gym membership, perhaps? Just be polite, reasonable, and non-confrontational when making ‘the ask.’  And always be willing to walk. This means having a back-up plan in place prior to negotiating.


Financial Questions to Ask Before You Get Married
How to Help Boost Your Appraisal
Know the Tax on Your Investments

Vera Gibbons is a financial journalist based in New York City and is a contributor to Zillow Blog. Connect with her at

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Zillow Blog – Real Estate Market Stats, Celebrity Real Estate, and Zillow News

, , , , , , , ,

Comments are closed.

The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from California Regional Multiple Listing Service, Inc. as of 5/22/15 5:42 AM PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

This IDX solution is (c) Diverse Solutions 2015.