10 Ways to Negotiate a Lower Rent

10 Ways to Negotiate a Lower Rent You’ve landed your first job in the city of your dreams. Life couldn’t get better. That is  until you realize that your landlord increased the price of rent. If your rent is breaking your back, it doesnt have to stay that way, you know. You can always talk to your landlord, and ask (nicely) whether you can knock a few hundred dollars off your rent. If youre worried that your landlord will balk at such a direct request, heres what you can do beforehand: Do Your Homework Visit rent comparison swebites and check the average rates for similar units in your area. Also, find out whether your landlord is on the lookout for new tenants. You can use both of these as bargaining chips since (1) the landlord cant charge higher than the average, unless theres a good reason; and (2) its much, much easier to keep existing tenants than find new ones.   Keep a Clean (Financial) Slate Think you can keep your credit history from your landlord? Think again. Landlords can purchase information from private credit reporting agencies to find out whether youre as capable with your finances as you say you are. Be honest with your landlord about your situation, but give them some sort of guarantee that you wont flake out on them once collection day comes.   Extend Your Lease Say something like Okay, Ill rent for x more months/years, as long as I pay only this specific amount. Most landlords would rather receive a lower consistent monthly amount  than leave a unit vacant and waste its income-generating potential.   Advance Monthly Payments If you have more than enough money to spare, ask your landlord whether you can pay off 3 to 6 months worth of rent in advance. Chances are, your landlord will appreciate the gesture; after all, tenants who pay early are rarer than tenants who pay late. Oh, and theres a good chance youll be given a lump-sum discount too.   Pay Ahead of Time, Always If your landlord tells you things like I really appreciate you always paying ahead of schedule, pounce on it. Suggest that tenants will have an incentive to pay earlier if they get a discount  or something like that.   Take Good Care of Your Place Nothing makes a landlord happier than a tenant who takes care of her place. Spruce up your unit with these garage organization tips, or ask your landlord whether they have a specific aesthetic in mind. Trust us; theyll be flattered that you think so well of their taste.   Find Other Tenants If your landlord is having trouble finding tenants, consider helping out. Post about vacant units on social media, or refer people you know.  Your landlord might just be grateful enough to shave a small amount off your rent. If not, at least youll have people to rely on within the premises, right?   Offer to Help Out Of course, you dont have to wait on your landlord hand-and-foot. But doing little things â€" watering the plants, collecting money from other tenants, or even doing DIY stuff, if thats your thing â€" can make your landlord, and people in general, more partial to you.   Hint (Nicely) That Youre Moving Out Thisll be easier if (1) you have a good track record as a tenant, and (2) you actually have a place to move into. Say things like I found this neat place that costs only this amount, and Im considering moving there. Be careful with this tactic, though; if your threat is empty, your landlord and rent wont budge the way you want them to. Be Reasonable Even after doing all of the above, however, dont spring a request for a 50-percent discount right off the bat. Otherwise, your landlord will see you as an opportunist, refuse your request, and force you to start from Square One. Ask for a discount low enough for your landlord to agree on, but high enough to add a little extra to your monthly savings. Remember the No. 1 rule of negotiation: Make sure the situation is a win-win for everyone involved. Take your landlords situation into account, but dont shortchange yourself either. If youre soft but firm in your negotiation, youll get what you want in due time.