Most people looking to rent an apartment or house will come upon many apartments that they like but that are out of their price range. This often gets many people wondering if it is possible to negotiate rental costs in order to make a rental more affordable. The short answer to this question is yes, but that answer will not apply to every situation.

The best chance a renter has for lowering the rental costs of an apartment or home is to rent from an individual. This would be a person who is renting a property that he or she personally owns, not an apartment owned by a leasing company. Apartments owned by leasing companies usually have set rates for each apartment, usually based on size, and are rarely, if ever, changed for a specific person. With individually owned properties, however, the owner can decide what he or she thinks is fair for the apartment , house, or room in question. Often times, if the owner likes or knows the potential renter, he or she will be willing to lower costs or to add in extras to make living in the apartment more affordable.  Popular situations or events that allow for a negotiation in rental price including the renter being willing to do work on the property or to perform some type of service, such as nannying or housekeeping, for the property owner; renting a property that has not been rented for quite some time, often because the asking price is too high; and renting an apartment or house that one later intends to buy. The only way to find out if a particular rental unit has a negotiable price is to talk and haggle with the owner. Potential renters should always be sure to do this in a friendly, practical manner.

In some cases, apartments or homes owned by leasing companies will agree to lower or negotiate the rent on the space. This is especially true if renters are in the process of renewing their leases, rather than starting out an entirely new lease. When renters renew their leases and have a verified history of having been a good tenant and paying rent on time, rental companies often do not want to see these tenants leave, so they will reduce the price of rent or keep the rent at the same price rather than raising it after the initial lease’s expiration. Maintaining a good relationship with the landlord or person(s) in the leasing office, paying rent on time, and generally striving to be a good tenant are smart steps to follow If one is planning on asking for a reduction in rent. As above, renters should be courteous and polite throughout the negotiation process.

 Finally, rent can be negotiable on just about any structure if that structure is having problems securing tenants or is in need of some degree of work. In today’s tough economy, this applies to many, if not most, rental units, so it is always a good idea to try and work out a fair deal with the landlord or leasing company.