Dos and Don’ts While Negotiating Rent with Your Landlord

Staying outside your hometown can be challenging especially if you are first timer. You can face multiple hardships including renting a property. You need to consider many factors when searching for a rental unit such as its location, security, amenities, and especially affordability. If you are living out in big cities like Christchurch, negotiating rent with your landlord can be a huge battle. However, with a smart approach, you can convince your landlord or property manager of a desirable price. If you are ready to negotiate rent with your service provider follow these tips.

Do Your Research

Adequate local market research will give you the best chance to get a rental unit at its true market value. Research property sales in your preferred location in Christchurch and its nearby areas, especially rentals with similar features. Track what sold, when, and for how much, and start to attend other open inspections and auctions to get information on current market price and demand. A thorough market research will help you prepare yourself for better negotiation.

Do Convey Your Message

Whether you are renting a home for the first time or renewing your lease, it is good to schedule a meeting or a time to talk in person with your landlord or property management service. Then, you can discuss your thoughts and reasons why you want a reduction in rent. Talking in person can help you get your point across easier and avoid any miscommunication and conflicts.

Don’t Low-Ball

While negotiating rent with a property manager or landlord, avoid making your first offer too low. Remember that the person you are dealing with already knows the market and the fair value of the property in question, so offer a value that is acceptable for both parties. Try to strike a fine balance between your goals of securing the property at the best price possible, while still offering a realistic market price unlikely to offend your landlord.

Don’t Rush

It is advisable to be patient while negotiating rent with your landlord or property management service. Avoid appearing desperate to do a deal rather wait for the seller's response to your request. Professional property management services in New Zealand like Rempstone Property Management, keep their clients and potential clients informed at all stages of tenancy so you can expect a timely response from them in case you are renting a home from them.