Your rent is likely to be one of your biggest (if not the biggest) expenses each month. If your contract renewal is looming then you may be feeling slightly anxious. Here are a few ways you can negotiate your rent with your landlord.
Show your worth
If you’re a dream tenant then show your worth. Remind your landlord that your payments have been on time, you have kept the property in good condition and that you’re a great neighbor in the community. Show that you’re willing to stay and you won’t be in search of other properties to rent. They won’t want to let you go!
Offer to sign a long-term lease to show that you’re seriously committed about staying in the property. If you can remind your landlord that they will have a reliable source of income each month, the odds may work in your favour.
Explain it’s too much
If you don’t want to pay extra for your rent each month, then explain that it’s too high. Checking other properties in the area available for rent is highly recommended. If your rent is higher than similar properties in the area, then chances are that it won’t be massively popular with other tenants.
Offer to pay some of your rent up front to demonstrate your commitment to the property. If you can pay a few months in advance, it may be difficult for your landlord to refuse.
Offer a small increase
If it comes to the crunch, offer to pay a small increase that you can afford.