How to Negotiate Rent on an NYC Apartment
Over 800 languages are spoken in New York City. This means that NYC is one of the most linguistically diverse cities in the world.
So, if you’re speaking one of those 800 languages and are planning to live in this concrete jungle where all your dreams come true, we have something important to tell you!
Unfortunately, in a city where “streets will make you feel brand new,” apartments and their prices won’t!
Research shows that almost ⅔ of New York apartments are rented.
Want to live in a good apartment without paying much?
Then it is time to master the art of negotiations through the tips we prepared for you in this article.
Tips for negotiating rent on an NYC apartment
While you may think it’s impossible to bargain a bit on the rent in a big city such as New York, we still have a few tips you can follow for a better outcome.
Tip 1: Come Prepared
The main goal is to find a suitable tenant ready to pay the price to live in the city of dreams.
So, if you don’t want to be another ordinary renter who’s looking for an apartment, be prepared to negotiate the price Search for rooms for rent NYC beforehand so you can get a clearer view of how much you would have to pay for them within your budget.
For this, you need to conduct market research before you move to New York to find out more about the prices of apartments in a particular area.
So, for example, if the average cost in the neighborhood is $2,500, you can quickly negotiate the price with a landlord who wants you to pay $3,500 for a small apartment.
Moreover, you can go through the reviews left by previous renters.
Then, if negative thoughts don’t turn living in that apartment into a disaster, you can use them against the landlord by telling them that despite all the flaws their apartment has, you are still ready to pay for it…as long as they agree to lower the price!
Tip 2: Find Out Their Weak Points
Let us help you with this! Almost every NYC landlord has a significant problem finding a renter for their apartments.
Because the pandemic has turned the tables without any warning! Now, landlords beg people to rent their apartment, which is the card you need to have up your sleeve.
This means that they will be ready for any reasonable price you offer, so be creative and come up with a price you won’t regret. You can start the negotiation process with confidence because landlords need you.
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Tip 3: Consider the Apartment’s Characteristics
As you may already know, there are two types of apartments in NYC – furnished and unfurnished. This will also significantly ease the process of negotiating the price due to two reasons:
- Furnished apartments in New York City are always more expensive than those without furniture. So, if the apartment you’re looking for does not have anything in it, you can lower the price.
- However, if you still want to have a furnished apartment that will make the moving-in process more manageable, you can estimate the quality of the furniture, condition of the equipment, and so much more. So, for example, if the previous renter had a dog who chewed chair legs, you can quickly force the price down.
In any case, if you want to simplify your life and have everything ready once you move in, furnished apartments in New York City are an excellent thing to consider.
What If This Doesn’t Work?
Despite all the difficulties that landlords face, some of them are too stubborn to lower the price. In such cases, you can still bring to the scene all your negotiating skills and make your landlord replace, for example, the furniture or equipment of the apartment.
Some people even succeed in convincing the landlord to pay the utility bills: so don’t give up.
The other option is negotiating with a landlord to pay the rent bills half and half.
Considering the trust issues, you can suggest the landlord prepare a contract that will approve the two sides’ agreement with clear conditions and fixed dates.
You will pay the price two times a month, but you won’t feel the difficulties as the price will be divided into two parts.
With the tips provided in this article, you can certainly start the negotiation process.
Remember that recent events have affected the renting industry, which puts you in a favorable position.
Now you can start looking for an apartment to wake up every day in the iconic city that never sleeps and is full of adventures.
You always have a big opportunity to choose the apartment appropriate to your requirements with a comfortable price and good conditions.
And never underestimate the power of negotiations, and if something bothers you, just talk with the landlord and try to find common ground.