This recession has taken its toll on nearly every sector of our economy, and it’s no secret that there are some really good deals out there if you are planning to buy a home. But, what if you rent? I took a look at that, and yes there are some deals to be had in the renters market if you know what you are doing,
The first thing that you need to do is study your market. You want to create leverage when you walk into the rental office. Shop around and find out what other rentals in the market are going for, and make a note of all comparable units that have lower rates than you are paying.
The web is your friend when it comes to this. Several sites can help you find these comp’s including craiglist.com and rentometer.com which are the two most popular sites. All that being said, if you google “comparing apartment rentals”, there are more sites than I have room to list that can help. I found a new one this morning that is in beta testing called zilpy.com. The bottom line is get thee to the internet and do some research.
The next thing that you need to know is that you have the leverage in this market. There is more supply than demand so remember the my mantra shop for the deal not for the need. If you are currently locked into a lease find a deal out there and go tell the salesperson in your rental office that you are going to take it if they do not lower your rent to match or beat it.
Finally, be brave enough to walk away from something that is not a deal. In the world of negotiation this is your ace-in-the-hole. But, you have to be disciplined enough to use it…chances are you’ll get more than you think possible as a result….
