How To Get a Fair Residential Lease

You’ll naturally have a lot of questions when negotiating a new lease. What can you do to get on a landlord’s good side? And how does a lease agreement work in the first place? In this article, we share seven tips for getting a fair rental deal.

 

Check Nearby Rental Rates

Look into the property market in your area. You might find out the place you have your eye on is charging more than the average. This is a great starting point for your negotiations. For a higher price, you might be able to ask for special features or free upgrades.

Alternatively, looking at these prices can help you keep your options open. You should be ready to walk away from an overpriced property — even when your goal is to negotiate. Many of these owners know their rents are too high, but they also know someone desperate will still pay.

 

Ask About Special Perks

A fair lease is about more than just a fair price. It also means being able to make the most of the property. What perks will the landlord include in your lease agreement? Can they guarantee free parking? And are they willing to be flexible on their current pet policy?

It’s even possible to have your rent cover at least some utilities. Some landlords will be happy to make minor changes to the property so it suits you better. Ultimately, if you don’t think the rent is worth it, you can always ask for more to justify it.

 

Get Everything in Writing

A landlord might make a claim or promise that sounds too good to be true when negotiating with them. Every term the two of you iron out should be in the lease document. They might refuse to follow through while also leaving you with no proof of whatever they promised.

Negotiating over email means you’ll have a paper trail for every discussion. If face-to-face works better for you, you may have to ask them to put their claims in writing. Never sign an agreement unless you have records of every detail you and the landlord agree upon.

 

Use a Lease Template

A pre-made lease comes with terms that are fair to both you and the property owner. It sets out the main expectations for each side. You can even find one for your specific state. For example, Alabama agreements highlight a landlord’s obligation to return deposits within 60 days.

With an online template, you can guarantee your lease is legally binding. These documents are also a great way of quickly getting to grips with your rights as a renter. If an owner doesn’t agree with the template’s terms, the rules they have in mind probably won’t be fair.

 

Prove Your Worth as a Tenant

Showing your landlord that you’re a model renter will help you at every stage of your tenancy. A talk that shows your maturity could convince them to overturn pet-free clauses, for example. You might even get lower rent prices if they trust you to keep the property safe.

You can prove yourself through strong references, including one from a previous landlord. If you can’t get this for one reason or another, put your all into the application process. Make sure your documents are in order, and consider writing a statement that helps your personality shine.

 

Consider a Longer Lease

Similarly, you can make yourself a valuable renter by agreeing to a longer lease. If you know it’ll be a while before you move out, this works for both sides. Long-term stays take a lot of pressure away from landlords. Many will appreciate not needing to scramble for another tenant.

As an added bonus, most fixed-term agreements don’t let owners change rent prices before the contract is over. With the rental market as unstable as it is, this can be a great comfort. A longer lease can effectively save you from the rates going up for quite some time.

 

Don’t Settle

The pressure to find a place as soon as possible is always hard to beat. This is especially true if your current contract is coming to a close in the coming days or weeks. Every day, tenants rush into unfair agreements just to put an end to their search.

However, you still shouldn’t sign a lease you’re not entirely sure about. If your situation isn’t too urgent, keep looking at other places. This alone can be a good negotiation tactic. Some owners (though not many) will lower their prices if they want to keep you on board.

 

Conclusion

Lease negotiations can be a nightmare for any renter — even the experienced ones. However, if you have the drive to get a fair deal, you’re sure to get a great place.