Your rent is probably your biggest outgoing. So if you’re thinking about whether or not you should negotiate on your tenancy agreement then we think you’ve got nothing to lose and as the old saying goes if you don’t ask you don’t get!
Apart from the obvious, what else can you potentially negotiate on? We take a look at the obvious and the not so obvious areas you can potentially negotiate on as part of your tenancy agreement.
1. Rental Price
It’s worth doing a bit of homework - and finding out what price similar properties in the area are being let for. If you feel the property is on the high side you should voice your concerns to the agent or landlord and see if they are willing to compromise on price based on the current market. If not then you could consider offering to sign for a longer lease at a reduced rate or even agree to paying some months rent up front (if you can afford it) for a discounted amount. This way the landlord knows they’ve got money in the bank and won’t have to chase for late payments. Win - win!
2. Length of Contract
Careful with this one! If you plan on being around for a while then this could be a great negotiating factor. Most tenancies have a contract length of 12- 18 months. So you could consider asking for a longer contract length in return for a cheaper monthly rate. Not having to find new renters every 12 months is a good reason for a landlord to consider dropping the monthly rent.
If you don’t need a parking slot or the extra storage you’ve been given or if you’re willing to give up your slot then this could also be something you could negotiate on.
4. Change the look and feel of the place
When you looked around the property did you notice a few things that could do with a bit of a spruce up? As part of your negotiations you could ask for the landlord to provide you with new equipment (we’re talking oven/microwave/hoover/sofas etc) if the stuff currently provided is a little tired or over used. It’s best to ask for this to be done before you move in. If the landlord doesn’t want to change anything you could use these things to bargain over the rental price.
Renting with pets is one of the hardest things to do. There are so few landlords willing to let to tenants with pets - because of the smell, odour and potential damage they can do. So to secure the property you could offer to pay a higher deposit or pay for the property to be deep cleaned at the end of the tenancy. Or if you have a certificate of good behaviour share this with your landlord/agent.
Remember negotiating the terms of your tenancy agreement after you’ve signed is a lot harder than if you did it beforehand. Also, your tenancy agreement is a legally binding contract, so make sure you’re happy with the terms before you sign up. You’re also starting a relationship with your new landlord - so it probably helps to approach the negotiation in a clear and courteous manner.
But it’s a 2-way street, so don’t be afraid to ask for amends to your tenancy agreement. What’s the worst that could happen?