By Mangalesri Chandrasekaran
Whether you are looking for a place to rent or it’s time to renew your lease, it is a great time to work on your negotiating skills. Your bargaining power will depend on the property’s demand and your value as a tenant. These are the tactics you should learn before setting out on your quest to convince the landlord that they can’t find a better tenant than you:
1. Talk Face-to-Face
Face-to-face conversations are proven to be more effective as compared to communicating over phone or via email. Try to meet the landlord in person and portray the positive side of you.
Keep the conversation as polite and friendly as possible, and avoid making any threats or demands. You can make the conversation simple by telling the landlord how much you love the place, but at the same time, you’ve found a cheaper deal elsewhere – and start negotiating from there onwards by asking for a lower rent.
2. Be Realistic
Being realistic is vital for a fruitful negotiation. Survey the rental rates in the surrounding area for similar properties, to determine your asking rate. Don’t give an unrealistic number to begin with, but ask for something that is lower than what you can afford and let the landlord haggle you back up.
You can make your offer more appealing by offering to lease for a longer period of time, or by prepaying for several months in advance.
3. Show the Good Side of You
Exhibit to the landlord that you are a decent and reliable tenant, and make sure to create a good first impression. Speak of your history – that you’ve been paying rent on time; you keep the place clean and tidy; are always on good terms with your neighbours; keep the belongings in the house safe and so on. Offer to take good care of the premises in exchange for a lower rent.
4. Point out the Repairs
Another method to bargain is to point out something in the unit that is unattractive or requires minor repair, and offer to replace it yourself in exchange for a reduced rent. Or point out the poor condition of the items or repairs, and ask for a reduction. Be sure to sound rational when you point out the repairs or the poor condition of the items.
5. Keep Looking
If the tactics above did not work with that particular landlord, fret not. You can always look for other vacant units and try to bargain again. You are more likely to find the best bargain once you have tried your luck with multiple units.
A successful negotiation is all about knowing the market, conducting proper research, and to negotiate calmly and rationally. Be sure to follow the above-mentioned tips to create the opportunity of paying a lower monthly rental.
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
