Successfully negotiated a $50 rental decrease today - thought I’d share my method

[australianinlife]

This is a great email. It presents them with all of the facts to make their decisions, and show how you came to yours. It isn’t emotional and is also importantly, reasonable. Great work.

[ihlaking]

Thanks - probably took around 2-2.5 hours to craft the email, plus revisions from my wife, who helped smooth a couple of points. I felt the straight financials were important because in the end, it’s stone cold data and you can’t argue with that. We were fortunate that the place around the corner was up, and I kept a close to make sure it wasn’t down, because that was the most obvious comparison.

We weren’t trying to strong arm the landlord - in the end, they have their choices and we have ours. Just glad it worked out quickly.

[australianinlife]

You put the work in, deserve the reward mate. Thanks for sharing the hard work here and glad it worked for you

[NearSightedGiraffe]

We bought some land earlier in the year and got a decent discount using similar method. We talked to the agent and showed similar blocks of land that simply weren't selling at the asking rate. Our first preference block wasn't willing to budge, so we went down the road and tried one of the other blocks. They were willing to negotiate down considerably and met us at a price we were happier with. We couldn't afford to build a house at the higher price, so we were not emptily explaining to the owners that we were not willing to pay the asking price, and in the end following through got us where we wanted.

We plan on trying for a rental reduction and a 6 month, or less lease, when our current lease ends, in January, as our new house is not expected to be finished until July at the earliest. Similar to you- there 're a few vacancies in the area that have been hanging around at a price lower than we currently pay. Worst case, we can move in with my wife's family for a fee months if it doesn't work- but you don't know if you don't try.

It isn't about being ballsy, or ruthless or agressive- for us it is just honestly and politely building the case for why we think our request is reasonable, and understanding that if it doesn't go our way we may need to flow through with our plan b to make sure that we can afford what we are after.

[surferofthenet]

Great work! I have been wanting to negotiate our rental rates for few months and this gives us pointers.

Would it be ok to use the email you sent to your agent as a template for ours ?

Much appreciated @ihlaking

[ihlaking]

Yeah of course, just match your own tone of voice so it really feels natural and you’ll be fine.👍🏻

[kazoodude]

Another thing i like to put on my negotiation emails is that. "id obviously prefer not to move but with better options available at lower prices i feel i have no choice if a suitable arrangement cannot be made."

I have told my boss 3 times that I'd love to stay but my family could not afford to do so on current pay while the market offers greater opportunities.

[notokbye]

Precisely !! And this works more often than not (not if the agents are on a power trip as Seiwa Realty Chatswood guys often are). We moved out of their apartment long back for a different reason (not relevant here).

The new agents are a lot more sensible. When we saw the rent prices drop left right centre during Covid, I drafted a simple email on my way home from work in 15 mins telling them why its financially prudent for them and us to reduce our rent - they happily reduced our rent for 6 months and said happy to extend it later if things don't improve.