Negotiating rent for long-term rental

[BAwithkids]

If we rent a place for a year through the "tourist"/furnished market, how much should we look to get the posted monthly rent reduced?

Thanks!

 

[citygirl]

Depends on the owner and how the place is priced and whether it's a top building or not. Some aren't really that interested in negotiating (they can make as much if not more having shorter term rentals at a higher price and with less wear & tear on the apt). Others will negotiate just to have a guaranteed tenant.

Just an FYI - 6 months is the maximum legal length for a contract for a furnished, short-term apt (one that doesn't require a guarantia).

If it helps, I offered about 13% less than what the owner of my apt was asking. She accepted. However your rents can increase after 6 months when the contract expires. Mine increased 10% after a year and another 5% or so in the next year due to rising costs in the building.

 

[BAwithkids]

If it helps, I offered about 13% less than what the owner of my apt was asking. She accepted. However your rents can increase after 6 months when the contract expires. Mine increased 10% after a year and another 5% or so in the next year due to rising costs in the building.

Thanks. I don't think any "top buildings" will be in our price range! I had heard 20-30% lower for the guaranteed income, so your example is helpful. And I should have said for the six-month lease (my thought was that a landlord, knowing someone was likely to request a second lease after the first six months, would be even more open to reducing the rent).

 

[ghost]

Thanks. I don't think any "top buildings" will be in our price range! I had heard 20-30% lower for the guaranteed income, so your example is helpful. And I should have said for the six-month lease (my thought was that a landlord, knowing someone was likely to request a second lease after the first six months, would be even more open to reducing the rent).

Your first world logic does not apply here in BA. Landlords here will let a place sit empty and not even worry about logic or economics.

 

[dr__dawggy]

Your first world logic does not apply here in BA. Landlords here will let a place sit empty and not even worry about logic or economics.

Or raise the price in an attempt to make up for lost income while the apartment has been empty.