How Renters Can Save Money
When Negotiating With Landlords
4 Tips to Save You ££
Empty rental homes cost landlords big money every month they remain untenanted – amounting to £3 billion a year in the UK. On average it tots up to about half the net profit for the average landlord. And this doesn’t even include the mortgage, insurance and utility charges they still have to pay!
Here are 4 tips for renters when negotiating with landlords for the best possible deal.
- Rental Price
If the landlord has set the property price even a bit too high, it may be sitting empty. They may be keen to drop the property price around 5% from the start if you’re willing to make a strong offer.
- Ask for Upgrades
Many landlords would prefer to improve their property over dropping the rental price to draw renters in. They may be willing to ‘sweeten the deal’ by offering some upgrades or improvements such as including TV and broadband costs, upgrading parts of the kitchen and/or bathroom or including a parking spot. Never be afraid to ask for the improvements you desire. What’s the worst that could happen?
- Contract Renewal
Landlords want to avoid periodic contracts where the tenancy runs from month to month as a shorter notice time can leave the property empty in-between tenants. Offering a fixed term contract can assist your negotiations to ensure that they’ll have a stable renter in for a longer period of time.
- Lengthen the Tenancy
In the same way, if you are willing to stay at the property for a longer period of time, you can use the duration for extra bargaining power.
All that said, it’s always better to have a professional negotiating on your behalf. After all, landlords usually have a rental agent looking after their interests. Renters also need to have a tough negotiator looking out for the Tenant’s interests.
Use our Contact Form to connect with our team of relocation experts and find out how we can help you get the best deal from your landlord.
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