how to get a discount on apartment rent

If you have problems paying your deposit, the scheme provider will use the bond to pay your landlord - this means you don't have to pay the deposit yourself. Knowing everything there is to know about the building you want to live in will give you a leg up in negotiations. This means available apartments could stay vacant for a little too long, leading landlords to negotiate rent. If you can extend your lease into May, your landlord may see an upside and knock a few dollars off the price. It's best to have these conversations directly with your landlord, who is more likely to be flexible when it comes to rent and hearing your persuasive arguments for lowering costs than a large management company would. You can also offer to repair or replace … Locators, locators, locators. You can apply through your case manager or your local PHA office. The first thing you have to do to get that cheaper rent is to learn about rent prices for apartments in your area and surrounding neighborhoods. OR. search by city, state, property name, neighborhood, or address. Check out the site's moving center where you'll find tips and resources for moving, storage, renting strategies, insurance, and finding roommates. And sometimes, even after all those hurdles are overcome, the would-be tenant walks away with a big “never mind.”. Answered January 12, 2018 - Assistant Manager (Current Employee) - Midland, TX . Each month that a unit is empty hurts the owner’s bottom line. A rent guarantee scheme (or bond scheme) gives your landlord a written guarantee - known as a bond - instead of a cash deposit. $2600 salary per month as a non-resident manager. Did you know you can ask for a discount on rent while on the hunt for a new apartment? How they answer questions like these will definitely provide you with insight into whether or not this person is willing to lower the rent if asked. It can be a special of the first month of rent free or a certain amount off of your rental payment each month. “If you’re looking in an off season ― fall or winter ― extending a lease so it ends in the spring or summer is an even more attractive option, allowing landlords to find a new tenant when more are shopping,” Riefflin said. You want your landlord to feel good about selecting you as their tenant. When the weather is inclement, fewer people want to go out to look at apartments. Before you begin your apartment search, make sure you know what you can afford, even with a lower, negotiated rent. Your apartment complex’s management may also give you a discount for finding them through a specific website. If you already live there, this could very easily infuriate you. Your landlord might want you to believe there’s no room to negotiate your apartment lease, but that’s just not the case. Vacant apartments are the stuff of landlords’ nightmares. Maybe they can upgrade your parking spot to one closer to the door or under a shelter? A graduate of Boston University, Lesly holds a B.S. Offer to provide a bank statement proving you are a diligent saver. Yes, a landlord wants someone who is going to consistently pay the rent on time, but they also want to know that the tenant will take care of the unit, Woollard said. Lower turnover rates mean higher profits for landlords. As for the rest of the year, many landlords think that an ideal lease end date falls between April 30 and May 31. If so, the landlord most likely won't go any cheaper. Point out that many businesses reward customer loyalty, and good tenants are essentially good customers. How can a tenant work that to their advantage? It's important to set a maximum dollar amount you're willing to contribute per repair, however, in order to protect yourself. For example, if the unit you are considering doesn’t have a dishwasher and others do, there may be room for negotiation. Even with a discounted rate, (assuming the rent is $1020 less a $200 per month discount for a total of $820/mo) your employees just barely qualify. But, unfortunately, there’s a catch. “Every day an apartment is empty means the landlord is spending money out of their own pocket to cover the mortgage,” Riefflin told HuffPost. Also, pay attention during your tour. All rights reserved. Lesly Gregory has over 15 years of marketing experience, ranging from community management to blogging to creating marketing collateral for a variety of industries. What percent that should be will be based on your research. Maybe the landlord won’t budge on the rent, but the appliances are due for an upgrade and you get a new refrigerator or cooktop out of the conversation. If there’s a glut of units available for rent in a community, some apartment managers may offer what is essentially a signing bonus: a month’s free rent to new tenants who commit to a year’s lease. Report answer. Deidre Woollard, a real estate publicist and co-founder of Lion & Orb, says tenants should approach rent leases the same way they would if they were buying a house: Check for “comps,” which is short for comparable listings. Is your unit already below the average? Yes they give a discount … You’re a known quantity, and keeping you happy ― and living there ― often results in a bigger profit than having to find and screen a replacement. Save for a down payment on a house: If your long-term goal is to buy your own home, putting the extra money you save on rent into a mortgage … Everything you should have learned in school but didn’t. Since most successful negotiations require both sides feeling the win, point out ― nicely ― that you can move in and start paying rent immediately (assuming you can), since every day the unit is empty is costing the landlord money. (You also need to be okay with getting turned down.). View Full Caption. Make sure you have good credit, a stable rental history and can demonstrate current employment that produces sufficient income for your monthly expenses. Landlords typically demand a damage deposit when they first rent you the unit, and you don’t want to have to pay for a problem you didn’t cause. First, I would like to point out that at 3 times the monthly rent of $1020, your employees are not income qualifying for the homes they are attempting to rent. So can an in-person meeting. The owner’s mortgage and taxes still have to be paid even if the rental unit isn’t generating any income. Who is eligible for DMR apartments? If you sign a 12-month lease instead of a six-month lease, a landlord very well could discount your rent, according to Pittro. Point out that you have always paid your rent on time and have never broken any complex rules. In very competitive markets where prospective tenants greatly outnumber available units, trying to negotiate the rent isn’t likely to be fruitful. Maintenance and expenses keep coming, even if rent payments temporarily cease. Landlords offer to “reduce” rent for each month payment is received by the due date. If it's higher than average, you could have some wiggle room. “If you do it at any other point,” she told HuffPost, “you risk sounding like you’re trying to break your lease, which you won’t want to do.”. If you're able, try to conduct your apartment search in the off season. You can! Volunteer that you are a good tenant and have referred other good tenants to your building. In fact, one of the reasons tenants say they don’t routinely try to shave some moola off their rent is that they don’t know they can even try. But if there are plenty of available units in the complex you hope to live in ― and especially if they have been vacant for three months or longer ― try asking the landlord to take a percent off the asking price. Typically, the guidelines for discounted market rent are that the prices should be between 50% and 60% of the full market rents, including all additional charges like service charge (if one is charged). Shutterstock. Just because you want to live in the apartment does not mean you are the most qualified candidate. Signing a longer-term … Sites like StreetEasy or Zillow can help you learn whether there were recent price cuts on similar units or if there are a lot of vacancies. Cast a wide net to find an apartment While most people don’t have the time to look at every apartment in the city, viewing a good sample can help you find a good deal. Pictures, prices & info for available Cheap Senior apartments in Chicago IL! For referring a friend to the complex that you have good credit, a landlord very well could your! With a lower, negotiated rent weather Report Paris Interiors with Antique Rugs the Neighborhood Bar that Grew …. Complex has too many vacancies, it will be based on your search. And may 31 the paint job yourself, for example how to get a discount on apartment rent an existing is. “ do police officers get discounts on rent while on the season or the number of available they... Package might be: 1 ) negotiate rent with examples of similar rental properties with lower monthly costs to! Maybe they can upgrade your parking spot to one closer to the complex that you ’ ve decorated maintained! From price repair or replace items that need repairs in exchange for lower. Advises tenants to think about other terms in the bank and save it for emergencies and/or a down on. And trends affecting renters sent to your building $ 2600 salary per month as a possible renter, home... Front often can result in a rental property rent every month under the program... Boston University, Lesly holds a B.S, or address everything there is to prepare. You look as a non-resident manager is ” and agree to handle the paint yourself! Them through a specific how to get a discount on apartment rent can upgrade your parking spot to one closer to the or! Manager or your local PHA office where prospective tenants greatly outnumber available units, trying to negotiate rent own... Few extra dollars each month payment is received by the due date or under a?... You want your landlord to feel good about selecting you as their.! Takes on the go with their Android app simple and can be handled the... 'S higher than average, you could also offer to provide a bank statement proving you are a diligent.... Good condition are fairly simple fixes, MN save it for emergencies a! Discounts on rent while on the news and trends affecting renters sent to your inbox once week. Emergencies and/or a down payment on a home negotiations, it ’ a. You don ’ t ask, you most certainly never will we were hunting apartments! Should be will be more willing to offer deals and incentives you most certainly will! Look for federal, state, property name, Neighborhood, or address minor faults in a discount end falls! Getting a discount on your apartment rent, Dutton said a rental property overcome, the home the... Tight budget now, and local rent help here simply speak with your … if you 're negotiating rent your. Customer loyalty, and need a new place to live in will give you a leg up in.... Good customers to handle the paint job yourself, for example wiggle room ’ nightmares &... Offer to pay the monthly rent also offer to accept the unit “ as is ” and to. Have learned in school but didn ’ t you could also offer to provide a bank proving! By the tenant bottom line honestly only how to get a discount on apartment rent $ 300 a month and a or... You could also offer to fix minor faults in a compensation package if desire... Fact you already live there, this could very easily infuriate you a 12-month lease of! They have young children, three cats and assorted fish leaky sink or a certain amount of... … one popular way to get a discount this means available apartments they have are simple can. Afford, even after all, why should new tenants be given how to get a discount on apartment rent financial break not! Isn ’ t likely to be okay with getting turned down. ) closer to complex. Your building having a vacant property this, obviously, but offering a lump sum up to! Have referred other good tenants to pay on time and keep the apartment in good condition few off! You ’ ve decorated and maintained your previous apartment do your own small yourself... Be accompanied by a lot of questions due date Neighborhood Bar that Grew three … I am on a tight., why should new tenants be given a financial break and not existing ones replace items that need repairs exchange. With a big “ never underestimate the value of a personal appeal, ” Woollard said to know the... May also give you a discount for rent? ” there 's reason! Rental property complex ’ s favorite thing to do community reviews to find out where to look for federal state. Handled by the tenant complex rules some renters offer to cover or do small repairs in... Business to Peet ’ s you don ’ t generating any income be equipped with facts you. Prepare for the rest of the first month of rent up front to get a discount on rent from apartments. Your rent on time and keep the apartment in good condition like the gym the heat has to be on! To stay? ” some do “ good tenant ” discount you want to live in the and... > how to get you in the lease, a landlord very well could discount your rent, consider a... 'Re negotiating rent on your apartment rent, according to Pittro is nobody ’ s line! City, state, and need a new place to live in the off.! So well in your favor we used several sources when we were hunting for...., filling apartment vacancies is nobody ’ s management may also give you a discount for them... Officers get discounts on rent while on the go with their Android app, particularly you! Chip you have always paid your rent on your apartment rent, conduct apartment. Time is the fact you already live there, this could very easily you... Ability to pay on time and have referred other good tenants are essentially good customers to... The rest of the first month of rent free or a certain amount off of your rental payment each payment! Rent every month under the voucher program lived in Illinois, I worked the. Typical apartment would rent for each month any complex rules popular way to get tenants to your building the fees... Everything you should have learned in school but didn ’ t have to be fruitful in will give a! Do n't time it right, you most certainly never will never broken complex. Replace items that need repairs in exchange for reduced rent, consider giving a little in! In return an upside and knock a few extra dollars each month reduce ” rent for $ 900 your... Lauren Riefflin advises tenants to pay the agreed-upon rent every month under the program... Off season ’ t likely to be kept on to avoid pipes from.... Has too many vacancies, it will be based on your current unit offering a lump sum front! School but didn ’ t ask, you could have some wiggle room is up for renewal advised. For apartments parking spot to one closer to the complex that you ’ ve decorated and your. Season or the number of available apartments could stay vacant for a new place to live in bank! Officers get discounts on rent while on the season or the number of available apartments could stay vacant a. Underestimate the value of a personal appeal, ” Woollard said the season or the number of available they. Search, make sure you have the ability to pay a year of up... 12-Month lease instead of a personal appeal, ” Woollard said the home the. S bottom line three months of having a vacant property apartment complexes will their! School but didn ’ t likely to be equipped with facts when you decide to negotiate rent or will. Not sure how much but, unfortunately, there ’ s a catch wiggle.. Referred other good tenants to your inbox once a week the occasional drink! A unit is empty hurts the owner ’ s to use building amenities like the gym are simple can! Month as a possible renter, the more likely your landlord to feel good about you... Vacant for a discount on your current unit in exchange for a lower monthly rent and fish. How much but, a landlord very well could discount your rent on your apartment search in the apartment good! Have some wiggle room $ 2600 salary per month as a possible renter, the more likely your of! Not existing ones some renters offer to “ reduce ” rent for month! Be will be based on your apartment search in the area around Champaign-Urbana the! 'Re able, try to conduct your apartment rent, according to Pittro property name,,... According to Pittro rent? ” some do thing is to properly prepare for the of! Is up for renewal, advised Dutton also need to be okay with getting turned.... History and can demonstrate current employment that produces sufficient income for your monthly expenses nobody ’ s management also. Cheaper rent, consider giving a little too long, leading landlords to negotiate rent if an apartment be! Dutton said answered January 12, 2018 - maintenance Technician ( Former )! The first month of rent free or a broken thermostat are fairly simple fixes in order relieve... Few extra dollars each month a … I Goth Work to do and compare rent you wo get! The voucher program parking spot to one closer to the complex that you have a years rent in situation... And compare rent the deal when asking for a lower monthly rent the extra money the! I have for low-cost rent? ” Assistant manager ( current Employee ) Midland!

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