How to Bargain Shop for Apartments

Looking for a new apartment can be exciting, but it can be tricky as well. You have an idea of the type of place and amenities you want or need, but then of course there’s your budget. So how do you bargain shop for apartments? Rent prices keep increasing nationwide, but you need to find a place that doesn’t break the bank, without compromising your safety and security. To help you in your apartment search, we’ve gathered the best tips for how to effectively and safely bargain shop for apartments.

Know Your Local Rental Market

While you have your vision of what you want your future place to be, it is crucial to know the local rental market of where you’re looking to live. Rental prices can vary greatly from place to place and town to town. Even within a community, rent can differ depending on which area of town you’re looking at. By knowing the local rental market, you’ll have realistic expectations and requirements of what you can and cannot afford as you bargain shop for apartments.

Don’t Be Afraid to Negotiate

As you bargain shop for apartments, you may wonder if you can negotiate rent prices with a landlord. The answer is, it depends on the situation, as some landlords and property management are willing to negotiate, while others, not so much. Therefore, if a landlord is open to discussing lowering rent, the key is in selling yourself as a great tenant: make the landlord want to have you as tenant!

Offer Something in Return

It’s one thing to be a tenant who is quiet and non-disruptive, but if you’re looking for lowering your rent, offer something in return. In other words, as you bargain shop for apartments, offer a bargain. For example, offer to water and look after any plants or flowers on the rental property grounds, shovel snow and clear walkways of debris, clean the laundry room, etc. Responsible landlords dedicate much of their time to the upkeep and maintenance of their rental properties, so offering to help is a great tool in negotiating for lower rent.

Sell Yourself As A Great Tenant

Landlords want to quickly fill vacant units, but not just with anyone. They want responsible tenants who they know will always pay rent fully and on time, while maintaining the peace and security of the complex and other tenants – a bargain of it’s own. So, if you’re looking to discuss lowering rent, sell yourself as a great tenant. Firstly, a good credit score and list of references can make you stand out from other interested parties. Secondly, have a rental reference letter from your previous landlord, praising and recommending you as a tenant. If you’re a first-time renter, you can have employers, family and friends as references who can attest to your character and responsibility.

Be Willing to Compromise

In your mind you have your dream apartment, with the perfect price. But as any renter knows, as you bargain shop you have to make compromises when it comes to your expectations and budget. Your dream apartment may too expensive to afford at the moment, so what are you willing to go without, in order to save? For example, you may have to go without having a cat or dog, to save on the monthly expense of paying to have a pet. Moreover, be honest and ask yourself what you are willing to go without, to get a better bargain.

Have a Roommate

You may be set on living on your own, but if you’re desperate to save on rent then having a roommate is a surefire way to do so. Depending on where you’re looking to live, having a roommate may be a necessity, especially if you’re looking to rent within a metropolis. As with your apartment requirements, make a list of what you’re looking for in a roommate.

Keep Safety a Priority

As you search for a new place, don’t compromise your safety. Rental scams are prevalent. Trust your gut, and exercise best judgement when viewing a potential place.

Watch Out for Deals That Look Too Good to Be True

If a rental price seems too good to be true, that’s because it probably is. If you have any reservations about a place or lease agreement, trust your gut. Your initial instincts can save you from overpaying for a place that is poorly maintained and/ or in an unsafe neighborhood.

Never Rent a Place Sight Unseen

This seems like a no brainer, but renting a place sight unseen happens, especially when there is a lack of rental properties within a community, or you’re pressed for time when it comes to finding and moving into a place. For example, you may come across a great deal online for an apartment, and sign immediately so as not to lose out to someone else. However, renting an apartment sight unseen is extremely risky. Photos of the property are not indicative of the property’s condition, and they may not even be pictures of the actual place itself. Visiting and walking through the property is the best way to fully observe and ask questions, to know the property’s true value.

Go See the Place in the Day and Night 

While visiting a property during the day may seem sufficient, visiting during the night is a smart idea as well. Your initial daytime impressions may be positive, but a nighttime visit is a great way to verify such impressions. For example, do you feel safe while visiting the apartment at night? Is the building and neighborhood well lit and visible? What security measure are in place, such as alarms, cameras, security guards, etc.? Is your car easily accessible to you, or do you have to park in a dark alley? Therefore, consider all these questions, and how they factor into your requirements, and the apartment’s price point. If an apartment is safe at all times of day and comes with security measures, then it might be well worth paying more for rent, rather than living in a cheaper place and compromising your safety.

Talk to the Neighbors About Any Suspicious Activity

While a listing may give glowing reports about a rental, chatting with those who actually live in and around a place can reveal truthful insights. So, if possible, talk to current and past tenants, and to neighbors about any suspicious activity. For example, are there any issues with trespassers? Theft?

Research Area Crime Rates

Above all, your safety should be a priority as you bargain shop for apartments. Therefore, it’s important you research the crime rates of any potential areas before you sign any lease. For instance, crime rates do affect rent prices, in that usually the more crime, the lower the rent prices. To discover crime rates in an area, there are plenty of websites with data and interactive maps, such as ADT’s Security Interactive Crime Maps, AreaVibes, and National Sex Offender Public Website (NSOPW). Also, chat if you can with any tenants, neighbors, and locals, to get a vibe of a potential place.