Posted by
demerzel
14 yrs ago
How low can I go with my offer? and how firm can i stand? for example if an apartment is 45k can I offer 35k? Is it too low or do i have a chance? I'm not negotiating with the landlord but with a management company.
Thanks
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If it is 45k I doubt you can get 35. Maybe maybe 40.
Another tactic is to keep it at 45k and ask for a month or two rent free. That way the landlord need not lower the sticker price.
Or even ask for some furnishings to be thrown in.
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Thank you axptguy,
Would you think maybe 10% off then would be reasonable? something like 41000 or 41,500 with some furniture maybe? I'm not keen of having someone's furniture to look after but could do with some bits
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It really depends. You can try but some landlords just don't budge.
Remember they like their sticker price. So if you can keep it nominally the same while getting a free month, you get your discount but they didn't technically discount. HK rental logic.
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Hahaha, that's really funny! You must be a landlord...
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If the OP's firm is paying the rental, maybe their HR person can get a better price, because landords will be assured of regular payment, that is what my husbands firm did, always worth trying.
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Thanks Susie, but they've left us to fend for our selves. It's the first time that we have to get our own accommodation so we're kind of new to renting. I was told that you can offer 20% less of the asking price, although it seemed kind of a huge discount so I wanted to double check and not make a fool of myself or loose the apartment we like by standing too firm on the discount.
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You can always try but I doubt there is much room for negotiation at the moment - particularly with a company. I'm a landlord and I have given cheap rents and free months for the past 2 years because of the financial crisis. The next tenancy is up at the end of June. I shan't be offering free months or discounts but the rent will be reasonable (say 10% back from the market) for a good tenant. 'Sticker levels' are deemed to be important because the rental supposedly affects the value of the property. However, if you buy a place with a tenancy it's worth seeing if any rent free periods were included earlier. I
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Check if there are other units in the same bldg available, that usually gets you some bargain room. Also your move in date is important to them. The closer the better as they don't loose as much money with an empty flat.
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merm
14 yrs ago
If possible, rent from a landlord who already owns the place and is not paying mortgage. The new landlords tend to be tight with money and a lot less generous and easy to deal with in general.
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It works both ways in my opinion. You can lowball and hope the agent passes your offer through. Some will not even bother if they know the landlord will reject.
You can lowball, get your offer accepted and then when it comes to renewal, you will get no leeway or landlord does nothing to help you fix things, etc. In my experience, offering a fair price is best. If you can't afford the place then look elsewhere.
Generally, if you have something to offer - company signed the lease, no kids, non-smoker, no pets, willing to pay for some renovations, work for a big company like HSBC/Catay or not SE Asian (I hate to say this but I have heard some landlords will not rent to SE Asians) then there is room to talk. But now is a landlord's market, especially in the expat market, so very little room for movement.
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