Leasing a home can be an attractive alternative to buying in today’s weak real estate market. Leasing with an option to buy is an increasingly popular way to acquire a home.
Whether the real estate market is strong or weak, the basic principles of lease negotiation remain the same.
- Set your priorities. Before you begin to negotiate, decide what is important to you. It might be a new refrigerator, interior painting, or a lower rent. Remember, everything is negotiable.
- Show that you are a desirable tenant. When a landlord feels that you will take good care of the property, you will be able to negotiate a better deal. Explain what you want in return for the fact that you are a responsible tenant.
- Do not sign a lease until all negotiations are over. Landlords are far less likely to agree to changes after a lease is signed.
- Do not eliminate the possibility of compromise. When you tell a landlord that you will not lease a property unless you get what you want, you effectively end the negotiations. Remember that half a loaf is better than nothing.