Congratulations, you have found your perfect property to rent! After viewing several different locations, buildings and even units, you have your eyes firmly set on the one you want to be your next home. However, the hard work does not stop there as finalising the offer and coming to an agreement with the landlord can involve some negotiation, so when making an offer on a property it will help to remember these following points:
1. Set out all the terms
The first thing a landlord will want to know is how much your offer is, but a full asking price offer and a start date in two months is likely to be less attractive than a slightly lower asking price and an immediate move date where the rent will roll in straight away. So, remember to clearly state the terms of the offer, which will include the price, start date, tenancy length, and anything other requirements you may have.
2. Wish list
If your offer is subject to a new sofa or for a set of saucepans to be provided, then an asking or close to asking price offer is expected. If you are not the only interested party, then think whether your requests are fair and whether the landlord would go for the alternative offer over yours.
3. Sweeten the offer
Any offer that is subject to certain conditions of a wish list can be sweetened by offering a bit more to the landlord. This could be more rent in advance, a longer tenancy or sooner start date. These could help sway the landlord and can be used as leverage against your offer.
4. Keep communicating
Communication is the crux of negotiation whether you are putting the offer through a real estate agent or directly to the landlord. Keep up communication and back up any of your terms to help reach the end goal. Building a good rapport is vital as a landlord will want a tenant in their property who pays their rent but also is easy to deal with too.
5. Act efficiently
Once the offer is agreed to finalise the paperwork and act in an efficient manner. Request a copy of the contract so that you can read through it and raise any necessary questions. The sooner it is signed, the rent and deposit are paid, the sooner you have the security of tenure of your new home.
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