Rental prices negotiable?

[mick33]

Hello.....

whats the property rental market like?

are prices generally negotiable? if so to what extent...

say a condo's asking price is 3k - does the landlord expect potential renters to negotiate...if so to what extent?

cheers, M

[Carpe Diem]

Of course every price is negotiable... But it depends on the "power" you have. If there are 50 people who want to rent the place it's very unlikely that the landlord will accept to negotiate. If you are the only one, then it's different...

So your job is to try to find out what is the usual price for similar properties... and if he/she already got offers and what kind of offers.

Then you can start negotiating.

Quite easy if you think about it

[mick33]

Thanks....well it seems like its a cherry picking exercise....quite easy

yet for an ill-informed foreigner, it could prove to be a mine field....

For example....if the asking price is 3k and I'll make an offer for 2.5k - I may offend the landlord...

information is power...unfortunately I really dont know.

is it advisable to utilise a local friend of mine to assist?

cheers, M

[coarls]

actually for me if you negotiate you think of your approved price then put a buffer in case they don't accept then you throw in a price in which will make both sides agree...like what you say asking is $3k...then you give $2.5k negotiation so that if ever they consider at say $2.7 or $2.8 it's in between for both because the owner is definitely putting a buffer also at their asking price...

hope this helps...

[mick33]

any1 got a bargain negotiating for a rental apartment? please share expereinces......

[kirribilli]

Yes. Agree with the above ... the landlord (or his/her agent) will expect you to bargain somewhat. You need to go low-ball and then re-adjust the rental upwards (but less than the asking price) to appease the landlord.

Also, never trust your agent ... they are not really working for you ... they are more keen on getting a higher commission ...

Just me two-cents

Cheerio