Negotiating the lease agreement.

Discussion in 'Landlord & Rental Property Questions' started by Investor, Feb 28, 2015.

  1. Investor

    Investor Well-Known Member

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    A lot of people who lease or rent property do not know that they too have the right to negotiate the contract. A contract for a sale or rent of property is not the same as an insurance contract, so the sale or rent of property as I said before is able to be negotiated but the contract that you enter into when buying insurance isn't. This is just a tip on Real Estate as I note that not a lot of negotiation takes place. Normally, the landlord tries the lay down the rules and gets the tenant to comply.
     
  2. shilpa123

    shilpa123 Banned

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    I was never aware of this fact. I do not think that I have come across this thought before. Thanks for letting me know.
     
  3. crimsonghost747

    crimsonghost747 Senior Investor

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    All contracts are negotiable. And when buying or selling it's important to negotiate about the price. But when renting it really depends on the location. Often there are many people who are interested in the apartment so the landlord really doesn't need to negotiate anything, if a potential tenant is not happy with the price or other parts of the contract then the landlord will simply give it to someone else.
     
  4. Glcameron

    Glcameron Well-Known Member

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    I always negotiate my lease. I think when you stick to the lease terms as is, your limiting yourself. I've had to deal with negotiating a friend's lease before because she didn't have the money monthly and because there changes that she needed to make inside the location. I was able to negotiate a rent to own option for her because the owner also wanted to get rid of the property.
     
  5. Gelsemium

    Gelsemium Senior Investor

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    Sure, we can always negotiate no matter what the deal is, especially when we have other offers and we can play with that. For example, I have the house cheaper than yours, can you match the price? ;)
     
  6. crimsonghost747

    crimsonghost747 Senior Investor

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    This is a great way of negotiating... but rarely works in real estate as in most places there are always more than 1 person who wants to rent the place. You pull that on a landlord and if he has other good candidates then you just put yourself back to square one when looking for an apartment. Great tactic with other things such as bank accounts, telephone and internet providers, insurance companies etc.
     
  7. Rainman

    Rainman Senior Investor

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    When I used to rent apartments I always negotiated the lease. If you know the landlord will have hard or has had a hard time finding tenants then I'd drive a hard bargain and have him agree to some of my conditions or at times, get him to offer a small discount on the rent. It works. If you haven't tried it, you ought to.
     
  8. shilpa123

    shilpa123 Banned

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    I definitely think this is a great method of negotiating. I do not think there is any other great way of doing it. I do believe it could be really helpful and useful.
     
  9. Gelsemium

    Gelsemium Senior Investor

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    Yep, that can happen too, like you say usually real estate has quite a few people interested, so in that case it won't work. If we do notice that the property has been sitting there we do have a good margin to negotiate.
     
  10. shilpa123

    shilpa123 Banned

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    This is true but there quite a lot of cases that do not really include a lot of people interested in the same house. I believe it is all the question of how well you can use the information that you have against the landlord.
     

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