Rent Will

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It's a known fact that in tough economic times, vacancy signs are a constant fixture. During the last year we have confirmed it is a buyer's market. Take full advantage! As the increased availability of rental units grows so will the likelihood your landlord and/or property management will be open to offering additional incentives or lower rent. Of course under normal conditions (and depending on where you are located) asking for better rental terms would be an automatic "no", however today's current conditions are not normal. Whether you are currently renting and looking for better terms or in search of a new place and hoping to negotiate the best terms up-front will impact how you initiate the discussion with your landlord. If you are a current tenant in good financial standing (i.e., bills are paid on time) and have not been the cause of issues with neighbors or landlord then the probability of you negotiating lower rent is much higher. And if you are a new tenant; do not be discouraged. Vacancies still need to be filled and with a little research and by asking a few questions the end result can be a positive result.

1) Bring your "A" game. Often times there are certain intimidation factors when tenants speak with landlords. I am not sure why especially since the landlord and/or property management needs you just as much as you need them (especially in tough economic times). So the best first step is to come to the negotiating table fully prepared with all research in hand. This should include knowing the rents on comparable properties in the area and any special offers that are available (i.e., first month free or no deposit required). Also, don't be afraid to mention any outstanding issues with your unit. If there is a water leak, paint has started to chip, certain appliances have failed to operate properly or even if you are experiencing a pest control issues; these are exactly the items you should mention if the landlord/property management is initially reluctant to provide better terms.

2) Ask for everything and more. It never hurts to ask for more than you know what you will actually receive. Remember, the worst thing that can happen is the landlord says no; so why not ask for $200 off the rent, maid service and free internet (together). You can use this as a starting point for the negotiation. Even if you finally settle on terms that just includes $50 off the rent and free internet; this is still a very good improvement from the lease agreement you had before.

3) Lower rent should not be the only goal. Sometimes negotiating a better lease agreement will mean the landlord will provide non-monetary incentives. The purpose is to receive select benefits that will improve your quality of life while living in your apartment. These incentives can include the landlord providing: a) regularly scheduled lawn care b) cable and/or internet c) maid service, etc. While none of these equate to less money being paid each month, it does allow for a greater comfort and relieves some stress you may have endured by taking on those tasks yourself. One additional consideration is many of the aforementioned benefits also maintain the quality of the rental unit so it is likely that the landlord will not object to these incentives.

4) What are your alternatives? If you are a current tenant and wishing to negotiate with your landlord and/or property manager, be sure to have a back-up plan just in case the landlord is not willing to agree to more favorable terms. As mentioned earlier, you should do some research on other rentals units. It's a good idea to identify all of your options.

You can start online by using apartment listing services like TenantsDirect.com to search available rentals in your area and find special offers and view floor plans. Since it is not guaranteed that the landlord will accept your terms, you may be able to find another place that is willing to agree to less rent and more amenities.

When Renting Makes Sense

Everyone at some time in his or her life finds it advantageous to rent. There are many varied circumstances that may require you to need to rent. You can rent a car, rent a home, rent a flat, rent a castle, rent a coder, rent a security guard, and rent a flat. There are literally an endless number of things, people, and services you can rent. Choosing to rent instead of buy is usually a lot more economical and just makes good, common sense.

Perhaps you want to know why you should rent when you can buy. Well, a good example is a cement mixer. There are many times in your life that a cement mixer would come in handy. The most common utilization may be when you want to create, extend, or redo your patio. This usually takes one day of mixing, pouring, and setting of cement. If you wanted to buy that cement mixer, you would be spending roughly $6,000+ new. Not sure you have that much cash to spend on a new cement mixer? Well, if you rent a cement mixer you can rent one for under $50 per day. As you can see in this example, renting that cement mixer makes a lot more sense than buying a new one.

One of the most common of rentals is that of a flat rental. You can get these in your local area when you need a to find a home base or you may be in need of a rental because you plan on vacationing. A vacation rental is not really that much different than your everyday rental, except that you will only be keeping it for a short time. Finding a flat rental is not as difficult as it may first seem. Often, the best flats can be found via recommendations from friends and colleagues. They may have the latest news on the recently available flats in their area. Another popular place that flat rentals are advertised is in the local newspaper. These often have a lot of listed flats for rent or lease. Of course, you can always do a search on the Internet. Whatever you decide on, finding a flat rental is not nearly as difficult as it first appears. A little bit of hard work and research will go a long way.

Of course, you can rent services as well. If you have ever had to hire an employee, you have rented a service. If you have ever hired someone to do your lawn or windows, you have rented a service. Security guards are another popular rented service. Usually, you get a service for a predetermined set number of hours and you then reimburse the service provider for the agreed amount of time. This is a great way to get that needed help for that home project or employment opportunity.

As is obvious, there are reasons you would need to rent rather than purchase. Some things, you honestly cannot purchase due to the high capital costs involved. Unless you have trained in a certain subject, you may not be able to gain the knowledge that a potential rented or hired employee may have. There are some skills that may be beyond you and renting just makes sense. I hire a plumber whenever I need extensive plumbing, because I know the plumber will be trained, professional and get the job done right. Remember that renting is often the only reasonably viable and sensible option that you should choose.

About the Author

Steve Thomas writes about renting and maintains a rent related resource website at www.rente.co.uk.

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