1st time renter, dont know how to negotiate rent. (Detroit: good credit, showing)

[Stert]

i will be renting my first house. i am going to be looking at a bunch of places in ferndale on friday. the realesate agent that will be showing me them e mailed me and in the e mail she wanted to remind me that the prices are always negotiable.

so what i was wondering, if a place in ferndale is $900 a month what would be a fair offer? what if the place is $850?

thanks.

[jfre81]

I am not too familiar with the Detroit area, but if you can, look up some similar rent properties and see how much they go for. If you see a bigger or better place renting for less nearby, you might have some leverage...

[Stert]

how do i find out what the final price that people settle on?
i know how much places are advertised for in the areas i want to move but do most people bargain for less?

i figured since the realitor made it a point to tell me that the prices advertised are negotiable, that most people end up paying less that what would be advertised n the paper/reality websites.

so i pretty much dont want to look stupid and throw out some low-ball offer. i would want to make a fair offer.

[*Danielle*]

I would low ball them for sure. So many people are in dire need to rent their houses because they are not selling here...

also be sure to make them responsible for any and all yard work at least once a week...what about snow removal?

[Stert]

ok, so i plan to lowball....what would you offer for a place that was in ferndale that is decently close to downtown and was $850?

[Coldjensens]

Shouldn't your Realtor be helping you with this?

Personally, I would try 650 with a long term lease and a large deposit (first two months last month and security) if you have it. A landlord who knows that you will stay for a while and will pay regularly will negotiate more. It is costly to change tenants and more costly to kick them out.

If you do not have funds, make a better offer ($750 or $800)but negotiate other benefits, free heat or water, improvements to the rental, etc. find an apartment down the street that offers free heat or something and say you want that. (Heat is not really free, the landlord pays the gas bill from your rent.). Most landlords will negotiate more for a longer term lease, especially if you have a good rental history and/or good credit.

You really need to get some comparable rental rates. If they are asking $850 and comparable places are going for $500, then you need to go a lot lower. If comparable places are being rented for $1200, then you probably should not try to negotiate overly much. You Realtor should be able to give you some comparable rental rates (make sure it is actual rates, not asking rates).

[*Danielle*]

How big is this house?

[Stert]

thanks. that was helpful.
how long is a long lease? i was only planning on a year.
and how to i find out the rates of rental properties?

[Coldjensens]

A year is reasonably long term. Three years or five years is better. Some landlords do not want to go too far out because they hope that rental values will go up. However they like to keep paying tenants for as long as possible. Every time they change tenants, they have to spiff up the place and usually let it sit empty for a while until they find a new tenant. Flaky tenants who get kicked out are an even bigger problem. They usually leave a mess.

The only way that I know of to find actual rental rates is to ask a realtor or go door to door and ask tenants.

[Stert]

Originally Posted by *Danielle*

How big is this house?

they range in size from around 800-1,200 sq/ft