Can you negotiate the rental price?

Asked by llb.30kdg, Ruther Glen, VA Wed Jan 9, 2013

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Misty Mount, Agent, Yorktown, VA
Wed Jan 9, 2013
The rental amount is up to the owner. They have the ability to lower the rent if they choose to. You have to fill out the application and request the change in rental amount. You would also need to have all deposits in hand as well.
I've had homeowners lower rent in the past, but they wanted to see the credit report before making a choice and realize they will only go down so much, and you still have to have all deposits at the time you sign the contract (may include 1-month rent amount for deposit + a credit fee) You will also need the first months rent at lease signing.

Good luck!
Misty Mount
Long and Foster
1 vote
Troy Hogge, Agent, Midlothian, VA
Wed Jan 9, 2013
Sure you can if the seller is willing to negotiate. Most everything is negotiable. But it helps if you have something to bring to the table not you just want to pay less. I just had a renter offer to do a 3 year lease if I would lower the rent some. I took $20 less a month for the 3 year lease instead of a one year lease.
1 vote
Deborah Edwa…, Agent, Richmond, VA
Wed Jan 9, 2013
It can be done. I have seen it happen, but as stated below you need to take all factors into consideration. But they will also try to recoop some of their loss the next year/lease renewal period when they increase the rent.
0 votes
Lisa Frensley, Agent, Fredericksburg, VA
Wed Jan 9, 2013
You can always try, but you should make sure you do your homework first and, as Troy mentioned below, perhaps offer to do an extended term. If you offer a lower amount, you should also have good credit (good credit and steady employment go a long way when a landlord looks at an application). On the homework: how long has the property been on the market? If it's been a short time, chances of negotiating are slimmer unless it's vacant and needs a tenant asap, or you are a great applicant that no one would want to pass on. How is it priced compared to other similar rentals and how does it show compared to other rentals? The more information you have, the better your negotiating will go.
0 votes
Sandra Lovell, Agent, Ruther Glen, VA
Wed Jan 9, 2013
More than likely not, but it all depends. It doesn't hurt to ask. If your financial situation is stellar, you may have a better chance to negotiate the price.
0 votes
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