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Tips and tricks for negotiating rent for college students

Dec 5, 2017 18:54 IST
Tips and tricks for negotiating rent for college students

College life for most students means a life away from their family in another town, another city. Which means finding an accommodation all by themselves. A lot of students opt for the option of PG's and hostels but some even go a step ahead and take flats or rooms on rent. The biggest problem here then is the costing issue. Private accommodations are far more costlier than hostels and PG's. Although there is some scope for bargain in PG's and hostels their rates most of the time are fixed. As they are housing many students at once and cannot offer each a different pricing. But private accommodation allow for more space when it comes to bargaining the rent price. However, bargaining is an art in itself and one needs to know some tips and tricks to turn the situation in their favour. students, sometimes lack in this art and hence, mentioned below are some helpful tips and tricks on how to negotiate your rent.   

Do a thorough research

Before you go on to see a property in some place make sure that you are well-informed on some basic things such as, the average rent price in the area. The easiest way to do is to check prices on property websites online otherwise you could also consult property brokers in the neighbourhood about the rent prices in locality. This is important for, when you go to check any property you'll have an ideas as to what is the average price in the area and be able to negotiate accordingly. You should know what the property is worth to ensure that you don't end up overpaying for it.

Do away with the brokers, deal directly with the owner

If possible, try to make a deal directly with the property owner. Do away with the brokers in between as they charge high amounts of commission which you end up paying from your pocket. Moreover, if you talk to the owner directly they will be more open to negotiations and you will be able to reduce your rent amount by another few bucks. If you have the capability of making payment for a few months in advance you might have a chance at further reducing the rent as owners are open to negotiating when paid in bulk.

Provide recommendations from previous landlords

If you have a good track record as tenant you could ask your previous landlords for recommendations. A few good words in your support from them could prove to be a good bargaining chip for you. If they put in a word for you like, the kid is always paid rent on time, kept the place tidy it could really impress the new landlord and they might open up to some negotiations. For a landlord, always looks to hire a good tenant even if means a little less income than a bad tenant who pays more rent and causes even more troubles for him.   

Connectivity with public transport

Check for connectivity with public transport from the place. If the nearest bus stop or metro station is at quite a distance you can use it as a bargaining chip to negotiate on your rent. Make your landlord understand that you are student and have a shoestring budget to carry out your expenses. If you end up paying such high rent for a place this far from the nearest public transport how will you manage your transportation expenses. Any reasonable person would offer you some relaxation given that issue.   

Check if the place is well-furnished or not

As a student you don't have a need for many luxuries and can do away with many unimportant things. Look for a place that isn't that well furnished it would cost much lesser than a place that comes fully furnished. You can buy things on your own as per your need. Just think why would you pay for amenities that are of no use to you. 

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Ask for extra services

If you come across a place that you find is too good to leave but your landlord won't negotiate on the rent request for some extra perks. For example, have your landlord state in the contract that any repairs in the apartment will be taken care of by him. If you are paying extra you might as well gain some extra benefits out of it. 

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Look for roommates

Try and find a roommate, it will help you reduce the burden considerably. The rent price of the place will not change whether you stay there alone or with 2-3 other people. Hence, finding a decent roommate could help you a lot in reducing the burden of rent. Together you also have chance at renting a much better and more spacious place at quite a reasonable rate.

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Be confidant while negotiating

Lastly but not the least, be confidant while negotiating a deal. If at any time you feel the things are not working out don't sign the final agreement. And once the final agreement is drafted read it and go through it very carefully. Make sure that you are in agreement of all the points stated before you sign the contract.

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