Rental Basics in Raleigh>Question Details

Carolyn Green, Real Estate Pro in Raleigh, NC

Are rental prices usually negotiable for the client? Is it professional to ask the potential landlord?

Asked by Carolyn Green, Raleigh, NC Tue Dec 11, 2012

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You can ask and the worst thing can happen they will say no but I found that sometimes they agree to a lower price. It never hurt to ask and if the landlord hasn't receive applications he will definetily will consider!
0 votes Thank Flag Link Tue Dec 11, 2012
Thank you!
Flag Thu Dec 13, 2012
Potentially yes. However, the applicant should.have.stellar.credit.and job references.

Vacancy rates are very very low so land lords/managment companies have their choice of applicants.

Good luck
0 votes Thank Flag Link Tue Dec 11, 2012
Carolyn...My experience is that almost anything to deal with real estate is negotiable. What I have found with rentals is that typically your negotiating power revolves around your credit score. If you are borderline, it may not be as negotiable as someone with a high score. Also as has been mentioned, longer term leases are usually more negotaiable than a short term one. My question would be...have you considered purchasing? I can give you an example... we looked at renting my daughters house when she vacated and myself not being overly involved with rentals, asked a friend who does exclusively rentals what she could rent the home for. He told us between $1000 to $1200 a month based upon her house in the neighborhood it was. Her mortgage payment was only $830 and that was with a 4.6% interest rate and covered her taxes and insurance as well so you can see that renting can be much more of a financial burden. Plus rates are currently under 4% now.
If you would like to consider alternative options to renting, please feel free to contact me.
0 votes Thank Flag Link Tue Dec 11, 2012
The short answer is yes, but people not represented by a buyer's agent are less likely to get any discounts simply due to negiotiating skills. Most renters might give away key bits of information that dampen their ability to negiotiate without even knowing it. Most agents don't charge any fees to represent someone looking to rent a home, and the commission (payment) to the buyer's agent has already been negiotiated when the landlord listed the home.

Thanks Carolyn, good luck!
0 votes Thank Flag Link Tue Dec 11, 2012
Hello,

Rental prices are totally negotiable and this is common. Don't worry about asking the landlord, this is very common.
0 votes Thank Flag Link Tue Dec 11, 2012
It IS possible to ask the landlord to negotiate the rent but with the market as it is today, not many landlords ARE negotiating. If the terms they have set forth are not acceptable to a potential tenant, the landlord knows that another one will be right behind ready to accept the terms.

This is another reason that buying is so much more attractive right now. The rental rates have really increased in the last 2 years. It is often the case that a monthly mortgage payment will be a bit less then potential rent on a similar type of property.
0 votes Thank Flag Link Tue Dec 11, 2012
Excuse the typos. New phone and at a stop light. :)
0 votes Thank Flag Link Tue Dec 11, 2012
It is totally negotiable. For an example if you ask for. 12-15 month lease (the longer the better) ask for $50 off monthly rent. Also, remember that your cut is negotiable as well! If thy are offering you say $100 bucks to get a client in, ask for $200. They put it on MLS for a reason and want it occupied as soon as possible. And - as on anything with real estate - it amt hurt to ask!
0 votes Thank Flag Link Tue Dec 11, 2012
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