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Old 07-17-2009, 04:45 PM
 
7 posts, read 8,631 times
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I'm going to sign a lease this weekend for my apartment in New York. I'm using broker and need to pay 1-month rental to him as the broker fee. I am wondering whether there is any room for me to negotiate the rental as well as the broker fee? Any tips? Thanks.
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Old 07-17-2009, 04:55 PM
 
Location: Now in Houston!
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Everything is negotiable, and is subject to only one rule: The party that can afford to walk away from the deal, and is prepared to do so, wins. "Affordability" relates to money, time and emotion. So, if you can afford to walk away from the deal because you have the time and/or money to do so, and you are not emotionally invested in the deal, you can negotiate.
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Old 07-17-2009, 06:00 PM
 
Location: Beautiful Pelham Parkway,The Bronx
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It's not really nice to negotiate at the last minute,as in just before signing a lease. You probably would have had a better chance earlier in the process.
But as Upstater said,if you are willing to walk away from the place I guess you can try.
Am Not sure that the party who walks away from a deal always wins.Sometimes you walk away and it turns out to be a mistake.
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Old 07-17-2009, 06:05 PM
 
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Aside from the scam of a Broker for a rental, find out the average rent of a unit like yours in your neighborhood. Also factor in the amount of condo/co-op space available and the percent of units that remain unsold. If the median rents are lower and the unsold units are lower then you should be able to speculate your landlord down to a lower monthly rent in favor of a long term agreement (2 years or more), providing stability for him in what are sure to be troubling times.
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Old 07-17-2009, 08:45 PM
 
Location: Now in Houston!
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Quote:
Originally Posted by bluedog2 View Post
It's not really nice to negotiate at the last minute,as in just before signing a lease. You probably would have had a better chance earlier in the process.
On the contrary, this is the BEST time to negotiate. Literally, as you slowly lower the the pen to the paper, lift it back up again and ask for something. This is the point at which the other party is least willing to walk away, because they have put the time and effort into getting to that point.

Quote:
Originally Posted by bluedog2 View Post
Am Not sure that the party who walks away from a deal always wins.Sometimes you walk away and it turns out to be a mistake.
True, but it is not very often that there are nothing but worse alternatives to the deal, should you walk away. Something that rare and valuable is pretty self-evident.

Most people's failure to negotiate, especially with real estate and cars, is that they become emotionally invested in the thing that they are acquiring. They "fall in love" with the apartment, the car, etc. and visualize themselves having their lives drastically improved by this thing. Manipulating this emotion is a common tactic of real estate agents and car salesmen.
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