Top 5 Rental Negotiating Tips to Gain a Upper Hand
Head towards the negotiating table if you like the house but not the rent that you are being charged with. There are several ways to head towards the direction of negotiation and gain an upper hand. Following are the ways in which convincing can be used against the landlord to lower the rent rates:-
- RERA Rent Index
Being managed at right intervals frequently by Dubai land department, it displays average rent for all communities in Dubai. It tells you by how much the rent will increase by your landlord and by which percentage. So, track the index for knowing the official numbers before you discuss it with your landlord.
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- Measure The Expectations
Know the prevailing rents within your community. Browse the listings of the Real Estate property portals. Make calls and check with brokers regarding market rents. So when you are renting the property, you can discuss with your landlord the rents prevailing in other buildings for the same.
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Market statistics and recent news awareness regarding trends of rental markets in the city and community will aid in your bargaining position. If a developer announces a new apartment construction tower beside you, you can give reasons on why you would want to put up the construction and noise if he agrees to lower the rent.
- Be a Good Tenant
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Maintain a good renting track record for as long as you reside in the property for it may come handy in the negotiation of rentals. Elaborate to your tenant that why you are a good tenant. Make them know that you have taken good care of the property and not damaged anything for that matter in any way and also have made repairs when required. Don’t leave any opportunity in telling them that you deserve a reduction in the rents.
- Let Go Of What You Don’t need
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If you have a parking space along with your renting apartment, but you don’t own a car or not planning to buy one in the near future, you can use this as bargaining spot. Offer to give up parking space, which can be offered to any other family which owns two cars. In turn, you can convince the landlord in lowering the next rent.
- Act As If You Are Going To Leave
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If everything fails, you can treat them about vacating the property as soon as your lease will get over. The rental market which is going through a down phase, this is not going to be the best news for anyone. Your landlords would not risk it with new communities coming over the city with low rents. This will prove to be the last tip for negotiation for you.
Source: Own A Space