Rent Negotiation

[SandyCo]

When I found my current apartment, I didn't try to negotiate the rent or security deposit at all. I knew I was getting a great deal - a 1,200 sq. ft. 2 br/2 bath apartment for $1,395/month with a dishwasher, built in microwave, gas fireplace, balcony, etc. I had seen other apartments in this area for the same price that weren't nearly as nice, so I knew better than to try to nickel and dime the landlord to death and possibly lose the apartment.

However, if you haven't spent a lot of time looking, if you don't know what comparable apartments look like, then by all means negotiate. The worst they can tell you is, "No thanks."

[1200RT]

Originally Posted by CALGUY

I havt too respectively disagree with your statement.
One's credit score is usually the determining factor when issuing credit.
What affects that credit score?
Not paying financial obligations as agreed too.
Sure, there may be any number of reasons why one did not live up too their financial agreement which lowers a credit score but, the bottom line is, credit evaluation is based on how one handles finances and meets financial obligations.
Paying one's bills on time increases that credit score, thereby giving someone good credit.
People with bad credit obviously have not paid bills on time for what ever reason and, that is what gave them bad credit.
My remark to the girl was not one bit rude, rather, it was the truth.
Bob.

Bob,

While i will not argue with you that she probably had a ton of late pays messing with her scores, I don't think the way you brought it up with her was appropriate. You say she was in her 20's ... how much trouble could she have gotten in? I've had quite a bit of experience analyzing credit and writing paper, and MANY of the people i've spoken with who think they have bad credit, are not as bad off as they might think. What if her credit wasn't perfect, but was good enough to rent from you? What if she offered to pay 12 months rent in advance? What if she ended up being the best tenant you've ever had?

People outside the credit world have very little idea what goes into a credit score. That girl probably had a few slow pays on credit cars from college, that brought her scores down. Had you have made that comment after looking at her bureaus, then it wouldn't have been an issue - but you didn't know what her credit issues were, and made a judgment on her, without all the facts. Keep up the good work making a better name for property management companies in LA.

[CALGUY]

Originally Posted by 1200RT

Bob,

While i will not argue with you that she probably had a ton of late pays messing with her scores, I don't think the way you brought it up with her was appropriate. You say she was in her 20's ... how much trouble could she have gotten in? I've had quite a bit of experience analyzing credit and writing paper, and MANY of the people i've spoken with who think they have bad credit, are not as bad off as they might think. What if her credit wasn't perfect, but was good enough to rent from you? What if she offered to pay 12 months rent in advance? What if she ended up being the best tenant you've ever had?

People outside the credit world have very little idea what goes into a credit score. That girl probably had a few slow pays on credit cars from college, that brought her scores down. Had you have made that comment after looking at her bureaus, then it wouldn't have been an issue - but you didn't know what her credit issues were, and made a judgment on her, without all the facts. Keep up the good work making a better name for property management companies in LA.

Obviously you think the remark was rude on my part.
All I did was answer her question.
If she had asked what utilities are paid for, I would also have given her a straight answer.
She asked what are people with bad credit suppossed too do, and my answer was straight as any other question I answered.
"Pay your bills on time" was not being rude, it was being honest.
What ever the reasons for her bad credit, by her own admission, she had poor credit.
Renting to her would have been a crap shoot at best,and I screen my tenants so that instead of a crap shoot, I am usually right on target.
Bob.

[drshang]

My advice is to start looking at listings 2-4 weeks before you are actually ready to rent.

This will give you an idea what's been "festering" on the market and what hasn't been. In my experience most rental prices are negotiable and if the unit has been on the market for a while it almost certainly is. I'd say 80% of the landlords I had talked to when we were house hunting would negotiate rent.

That said, the place we ended up taking was on the market one day, we were the first people to look at, and was by far the nicest place we saw at a similar price point to other houses that were smaller or the same size and not as nice. Perhaps I could have shaved $50-100 off the rent if I played hardball and waited a week or two to see if anyone took it, but I think someone else would have taken the place for list and there's not much negotiating room if the place has been listed for one day. I think we got a good deal in the end. I asked the landlord after we signed the lease and he said about 6-7 people looked at it between the time we started filling out the app and got approved, and another 2-3 were interested the following weekend, but we filled out the materials first and we had "first dibs" since our application was very strong and we filled it out first.

Most of the places that are top 15-20% in the market in terms of value are going to go very fast and there will likely be multiple people interested. Don't mess around if you're getting a good deal already is my advice. But understand before you start negotiating what kind of position you're in - it will go a long way to getting you the best deal.

If you get a good place, be decisive, don't mess around and grab it. If you don't, someone else will.