Are rent amounts ever negotiable? Perhaps in exchange for a longer lease or addtl. deposit? Or are the listed monthly rent amounts set in stone?

Asked by Meghanjericho, Fresno, CA Wed May 15, 2013

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marcia h chase’s answer
marcia h cha…, Other Pro, kirkland, WA
Thu May 16, 2013
i personally do not negotiate rent amounts nor do we do leases over the year period for many reasons...a big factor might be the location you are looking to rent as every area is different...

marcia h chase
chase property management
kirkland, wa
0 votes
Bill Eckler, Agent, Venice, FL
Wed May 15, 2013
Absolutely, rentals are negotiable but you need to identify the truly motivated landlord with which to negotiate.
0 votes
Ray Akers, Agent, Seattle, WA
Wed May 15, 2013
Yes, rents are negotiable. (Listed prices of 'for sale' homes are also negotiable.) Don't let anyone discourage you from trying to negotiate a rent reduction. You have something valuable to offer; a long-term lease. Landlords love stability. You should not be shy about asking for a lower rent in exchange for a longer lease term. A smart landlord will work out a deal with you. Good luck!
0 votes
Kim Mulligan, Agent, Seattle, WA
Wed May 15, 2013
In the Seattle market it is unlikely. It's a "landlord's" market right now and their is little incentive to negotiate, and someone is usually right behind you wanting the same unit. As you go further out from the city or for undesirable units this may not hold true. You have a better chance dealing with a small independent landlord instead of a corporation, but for residential properties it's unlikely they will bargain.
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Kerstin Broo…, Agent, Seattle, WA
Wed May 15, 2013
Yes, rents are negotiable. And yes, if there is a longer lease term, the owner may be more inclined to negotiate or if the unit is difficult to rent. However, in larger apartment buildings, owners are not likely to negotiate, especially if the going rent for comparable units is more. It just opens them up for discrimination issues. Good luck.
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Linda Bagley, Agent, Seattle, WA
Wed May 15, 2013
Absolutely! As a broker and a landlord, everything in a lease is negotiable. EVERYTHING! However, make sure all negotiated items are very clearly spelled out in the lease. Nothing can be vague or subject to interpretation.

Best,
Linda Bagley
http://www.specialagentsrealty.com
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The Cascade…, Agent, Issaquah, WA
Wed May 15, 2013
Absolutely they are. Rents, terms, deposit and all aspects of the lease are up to be negotiable!
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Alex Montelo…, Agent, Seal Beach, CA
Wed May 15, 2013
Rents are negotiable to some degree. The owners may consider a slight adjustment to the asking price if the potential renter has excellent credit, longer lease, additional deposit or a prepaid lease. I've seen it before. Usually property owners or management companies have a good idea of the going rate in the area and anything priced right will lease in less than 30 days. However, you may see some listings out there for longer. You will have a better chance at negotiating those that have been on the market for longer than 30 days.
Remember, it never hurts to ask. Good luck!
0 votes
Terry Farnsw…, Agent, Lisle, IL
Wed May 15, 2013
Everything is typically always negotiable. However, in a negotiation, you usually have to be offering something of value to the other party, in return for what you are asking for. Additionally, how much the owner is going to be willing to negotiate will be determined on their specific situation, and what comparable properties are renting for.

If they are asking $2000, and everything comparable to the property in the area is renting for $2200, then don't expect them to budge much. Also, is the property vacant, and if so, how long? Does the owner "need" someone in there to cover the mortgage, etc. - or can they afford to "hold" out until they get what they want?

Also, what are you offering them? Spotless credit? A longer lease? A bigger deposit? Excellent references?

Consideration of all of the above will determine how "willing" an owner will be to work with you and the monthly rental amount.
0 votes
Mike Stickel, Agent, Boca Raton, FL
Wed May 15, 2013
Yes the rental amounts are negotiable.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Wed May 15, 2013
Yes they are always negotiable.
0 votes
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