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What Can Affect My Negotiations for Rental Amounts?

Negotiating the price of your rent is going to involve a few factors. Whether the landlord is going to agree to changing the price and coming up with a compromise will depend on the situation and what goes on as well. Some of the factors that you can consider when it comes to negotiating your rental amount will include:
# Market conditions: If there is a high demand for apartments at the moment and not a lot of supply, your landlord may not have much incentive to work with you for a fair rent. They know that there are a lot of others who will jump right into the unit at the higher rate. However, if there is an economic downturn and a lot of open units, the landlord is more willing to negotiate with you.
# Property conditions: Older properties may need a lot of work and are harder to attract potential tenants with. These make it easier to negotiate the rent because the landlord doesn’t want the hassle of finding someone new. A brand new apartment is unlikely to have this problem and you may not be able to negotiate.
# Personal circumstances: Your financial situation can make it necessary that you do a rent negotiation. But if you lose your job or have trouble with your finances, then the landlord may be a bit wary and less likely to work with you. If you have a history of late payments, this will make it even worse.
# Vacancy rates: The more empty apartments that the landlord is dealing with, and the longer they were open, the easier it will be to get into the apartment and get a lower rate, whether you are a new tenant or one renewing their lease. It never hurts to ask when you see a lot of vacancies around.
# Comparative rents; You cannot come to the landlord and ask for a rent amount that is substantially lower than what other properties are doing. They will say no.
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