 Can you take anything if your house is foreclosure? |
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 Landlord problems? |
We have been living in a property for 7 months now and our shorthold tenancy has just switched to 'month to month'. (it was for 6 months)
do they have to give 1 month, or two ... |
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Additional Details
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What would be the monthly payment on a $90,000 mortgage at a rate of 7.5% interest for 30 years?
Additional Details
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Baliwood Babe | Can you negotiate rent? |
I am moving into an apartment in the Washington DC area. It is fairly expensive for a 1 bed, 1 bath no utilities included apartment, but I dont really have a choice. The rent is 1500/ month. With the economy in a downfall, is it actually possible for me to negotiate my rent. I have not signed a lease yet, so is there still room to play hardball? |
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Neeners
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Absolutely.
Find out how long the apartment has been vacant. The longer it has been vacant, the more negotiating power you have. If there are no other potential tenants, the landlord might be checking in periodically with you to see when you plan on signing the lease. This is a good clue you're the only one.
If there are other people looking to rent the same place, you still have a chance. Most leases are for one year. You can possibly negotiate lower monthly rent if you agree to sign a longer lease...of say 2 years.
Or, instead of negotiating LOWER monthly rent, you may try to negotiate a month's free rent for every year you sign for.
Or, you may negotiate a barter. Lower rent if you provide some kind of service in return that might otherwise be included, like mowing the lawn.
You can get creative. If it's lower rent you're going after...know what your ideal rent amount is. Then tell the landlord a number LESS than that. This will sound totally unreasonable and they'll likely counter with a higher number, but something lower than the advertised rent. You can then counter again with a slightly lower number than their counter, but higher than your original, ridiculous offer ending in a mutually agreeable amount.
Happy negotiating! (EVERYTHING'S Negotiable!) |
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Mom
 |
It depends on how hard it is to come by an apartment like that, and if you are willing to risk losing it. Since you already have a verbal agreement the management might see you as dishonest to try and change the contract at this point, just as you would be if they raised the rent right before you moved in. |
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estielmo
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It's possible, but the landlord's expenses haven't gone down. Why should he give you a special rate? |
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Trouble
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It is very unlikely that rent is negotiable. In over 12 years, I have never negotiated the rent amount, ever.
The landlord would have to be very desperate to lower the rent. Most landlords know the comps and local rental market well enough to set the rents at market prices.
The fact is, if you attempt to play hardball this late in the game, the landlord will just move on to the next applicant ... if there is one.
The economy is actually keeping the rental market healthy.
People cannot afford or qualify to buy houses, so they are forced to rent.
People are losing their houses via foreclosure and are forced to rent.
Renters are being kicked out of their rentals due to landlord losing their rentals, so they are forced back into the rental market.
Add those people to the regular renting population and there is more demand for the same supply. |
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A D
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In theory, all things are negotiable.
You can certainly try. As mentioned by another poster, how long has the property been vacant? How much of a reduction are you going to try and get? What is the typical rent for a comparable property?
And, maybe most importantly, do you have a back-up option and are you willing to walk away if you don't get what you want? |
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schwildcat1977
 |
NO. If you try to "play hard ball" you will NOT get the unit.
Landlords do NOT typically negotiate. If you cannot afford it then find one you can.
Look at similar units in the area. I know that seems high but is probably comparable. |
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LOU
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if the property has been vacant for a while it is worth trying to lower the rent, with the economy as it is the landlords probably need the money.
You can only try. |
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Heather V
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I would not try this. Good apartments in DC are in high demand these days--no one wants to buy everyone wants to rent. Since you have not signed a lease, if you ask for lower rent, they can just decide not to rent to you. |
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Cali T
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Only if it has been vacant for a while or the landlord is having trouble renting it out. If it is a hard to get apartment and typically goes fast or has Alto of offers, I wouldn't risk it. If it's a hot market, he will find someone who will pay full price. |
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glass half full
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of course |
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gafpromise
 |
Yes. You can find out what similar apartments are going for, or I'd say you could just offer 10-15% less than what they are asking. They may or may not go for it, but you could sweeten the deal by agreeing to a longer lease term. |
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