Real Estate News

Five Lease Items You Didn’t Know You Could Negotiate

When signing a lease, it is important to know what you can, and should negotiate on.

rental negotiations

Its no secret that leases are pretty tricky things. From the overly-verbose language to the pages and pages of initials and signatures, most of the time renters just want to get it over with, and move in. A savvy renter however, should know that there are certain things you can negotiate, to get yourself a sweeter deal. Here are five things that most people don’t realize are negotiable.

1) Security deposits often have statutes and limits in some jurisdictions, so if a number seems to high, it doesn’t hurt to counter with a lower offer. If a landlord really needs to rent out a place, they might be willing to agree to a better price.

2) Pet policies are normally pretty set in stone, but if your pet is small, quiet, and/or well behaved you may be able to get your landlord to budge. You may have to pay a deposit, or a little extra rent each month, but man’s best friends are always worth it.

3) Amenity access often costs extra, especially for a pool or fitness center, but you may be able to work these fees into your monthly rent. If you have a good record of on-time payments, many times you can negotiate these amenities when you resign.

READ MORE: Four Don’ts to Home Buying

4) Parking passes can be a real problem for people who like to host events, but it never hurts to try and squeeze in one or two more passes. A landlord is likely to agree to this if you are close to signing the lease, but still have time to walk away.

5) Monthly rent is a difficult thing to negotiate, but it isn’t impossible. Chances are, the introductory rent is actually higher than necessary for profit, so if you are the type of renter that has a pristine record, it is definitely worth it to ask for a reduction, although you should remain respectful of the landlord’s position, and never try to lowball them. The best way to get your rent reduced is to come prepared with research of comparable rental rates in the area.

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About the author

Gary Adrian Randall