Profile picture for hopelarsen173

Will an apartment complex negotiate rent price?

I live in apartment complexes over apartments that are individually owned by a landlord. Will apartment complexes negotiate their rent price? 
  • March 18 2014 - Bedford
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Answers (5)

Profile picture for MountJuliet
Rents are based on supply and demand but also know that the owner needs to keep the rents high for valuation of the property for selling or loan purposes. Investment properties are valued based on the income from the property.  If you want to know more about investment properties, google CAP RATES.

If you're looking to achieve a discounted rent, try to get a monthly credit towards the rent.  Credit for cleaning the parking lot or similar.  Credits do not affect the valuation as much as discounting market rents.

Best,

Bob Sorey
  • March 18 2014
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Sure, if units are privately owned by individuals, like in a coop or condo....
Those big luxury buildings never budge!!!!
  • March 18 2014
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Profile picture for wetdawgs
Maybe.  If they are having problems finding tenants, they are more likely to negotiate.   If the list of possible tenants is a mile long, the probability of negotiating is much reduced. 

  • March 18 2014
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If an apartment complex is privately owned, they may negotiate but within certain guidelines.  The owner has to be careful not to violate fair housing laws and offer one person a lower rent than someone else who is interested in the apartment.  There can be very significant fines if they do so. With that said, it doesn't hurt to ask but respect their answer if they tell you they can't.

If it is a corporate owned apartment complex, the rent range is usually defined by the Owners or by the Management Company. The Manager and/or Agents are only allowed to offer specific rents on specific dates, usually in relation to the current availability. Hope that helps!
  • March 18 2014
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It can't hurt to ask. My guess is that it depends on how much demand they have there.
  • March 18 2014
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