Owning a home is extremely expensive, and it also may be out of the question if you have bad credit. Renting an apartment can be expensive as well, but it is often a good alternative if you cannot purchase a home. If you find that apartments in your area are a bit out of your price range, then you can negotiate the price. Keep reading to learn some tips to help you do this.
Offer Rent Up Front
If you were looking for a home, then there is a chance that you had some cash set aside for the down payment. If you have decided to rent instead of buy, then you can use this money to garner a discount on your rent. Offer to pay three to six months of rent in advance for an overall rental discount. This tactic is often used by individuals who want discounts on things like their cell phone bills and their car insurance.
Take your vehicle insurance as an example. Some insurers offer 5%, 10%, or 20% discounts if you pay for a year of insurance up front. Take the average 10% discount and apply it to your rent payment if you pay several months ahead. For example, if rent is $900, offer to pay $810. You can ask for this rent price all year based on your one-time advanced payment, or you can negotiate the rent savings by continually paying your rent in advance.
Of course, if you decide to go this route, then make sure that you receive a receipt for payment. Also, look closely at the lease terms and payment practices if you are unwilling to pay rent up front all the time. Monthly payment stipulations should be described in the lease so you and your landlord are on the same page when it comes to payments.
Offer To Help Out
Almost all landlords will arrange for snow plowing, grass mowing, general landscaping, and maintenance. These costs are included in your rental payments. However, if you are handy or if you have the tools and know-how to complete tasks around the apartment building, then offer your services as a trade for reduced rental payments.
When asking for discounts, consider the fact that lawn mowing services are sometimes as much as $50 per service, depending on the size of the lawn. If the lawn is mowed twice a month, then this works out to be about $100 a month. You do not want this steep of a discount, but asking for $50 a month to take care of lawn care is not unreasonable. Basically, you want it to be cost effective for both you and your landlord.