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Old 08-13-2010, 11:11 AM
 
Location: Full Time: N.NJ Part Time: S.CA, ID
6,116 posts, read 12,517,151 times
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I'm helping a friend relocate to LA. Its been awhile since I've rented ..... what is reasonable in a rent negotiation? I know there are a lot of vacancies right now ... Are people asking for a discount off "move in"? Is it reasonable to ask for a lower monthly rent than advertised - assuming good credit and rental history?
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Old 08-13-2010, 12:17 PM
 
Location: Dalton Gardens
2,855 posts, read 6,464,128 times
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Most companies will offer a rent concession and/or a low move-in special with good credit. It is also more than acceptable to ask for a negotiation on the price. Keep in mind that most apartment companies will only offer these special rates if you agree to sign a 9 month lease or longer. Also, try to find a place which offers leases upto 15 months. This can save literally up to $300a month on the rent. Simi Valley & Moorpark offer these longer leases with lower rents. An apartment going for $1600 for 9 months will go for as low as $1300 for 15 months.
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Old 08-13-2010, 12:27 PM
 
Location: Full Time: N.NJ Part Time: S.CA, ID
6,116 posts, read 12,517,151 times
Reputation: 8679
Thank you very much.

If they are advertising a 12 month lease already, what is an appropriate discount?
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Old 08-13-2010, 12:33 PM
 
Location: Dalton Gardens
2,855 posts, read 6,464,128 times
Reputation: 1699
Quote:
Originally Posted by 1200RT View Post
Thank you very much.

If they are advertising a 12 month lease already, what is an appropriate discount?
Depends on the price and if it is a rent controlled building. If it is rent controlled they would be willing to discount up to 3% of the monthly rent. It they are really hurting due to an overabundance of vacancies they will go as much as 5%. If you find a place going for say $950 and they do not list a concession as part of that price you can reasonably request a concession of $30 to $50 off a month for 12 months. Alos beware of the offer which says..."Up to 1 Month Free Prorated." This just means that with the discount provided by the end of 12 months you will have saved the equivalent of 1 month's rent.
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Old 08-13-2010, 03:50 PM
 
Location: Full Time: N.NJ Part Time: S.CA, ID
6,116 posts, read 12,517,151 times
Reputation: 8679
Thanks!
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Old 08-13-2010, 04:05 PM
 
Location: Dalton Gardens
2,855 posts, read 6,464,128 times
Reputation: 1699
You are welcome I would have you come check out the apartments I manage, or one of our other buildings, but I am preparing to leave in October. The company's lack of ethics is a major issue for me, as well as the high crime rate.
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