Best way to negotiate rent on new rental property in Melbourne

LTheStabiloBoss on 07/03/2021 - 14:59

I'm currently looking for a 1 bedroom apartment in Melbourne and it seems to me like there's a lot of places currently up for rent, having seen prices drop a fair bit as well as seeing apartments stuck on the market for months at a time. I am very keen to negotiate a lower rent and it feels like a good time to do that however am not really sure what the best tactic is.

Should I try to get an application approved and then negotiate down, or call the agent before applying to see if they're receptive to a reduction in order to lease the property? Or is there another way people have found success bargaining rent lower?

I'm also a freelancer with a flawless 10 year rental history (no bond claims or late rent) so no real impediments there.

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Comments

  • deme on 07/03/2021 - 15:02
    +7

    Just offer under

    • djones145 on 07/03/2021 - 18:05
      -2

      wait u mean if they want 100 u offer 200????

      too confusing br0
      I might just order 400, just to make sure I get it

      • Muzeeb on 07/03/2021 - 18:16
        +2

        too confusing br0

        Look who's talking 😆

  • kanmen on 07/03/2021 - 15:12

    Have heard of agents telling prospective tenants to put in low ball offers into places in or near the CBD

  • Azrael169 on 07/03/2021 - 15:13
    +5

    If you get a application approved and try and negotiate down, your wasting everyones time and the LandLord/Agent wont appreciate it. Especially if another person submitted a application and was willing to pay the listed rent and you got the property for some reason.

    Just put your offers in with the listed rent your hoping to pay. If the properties are taking a while to fill someone may accept a lower rental value.

  • mskeggs on 07/03/2021 - 15:44

    Most landlords would rather give you some weeks free rather than drop the rent, or a mix of both. Free weeks is better for you if you aren’t planning on staying there too long.

    • thatonethere on 07/03/2021 - 16:45
      +2

      Especially for landlords insurance and bank refinancing

  • MITM on 07/03/2021 - 16:55
    +1

    Do you have enough to pay 6 months up front ? Cash is king.

    • Muzeeb on 07/03/2021 - 17:52
      +2

      Why give up all that cash to save $20 a week on rent in a renters market?

      • Cheeper on 08/03/2021 - 12:48

        Because it will make / earn him more than just sitting in the bank making .001% interest.

        • Muzeeb on 08/03/2021 - 13:11

          Why have all that cash sitting in a bank making .001% interest?

  • JimmyF on 07/03/2021 - 17:03

    Best way to negotiate rent on new rental property in Melbourne

    its easy as putting in a offer. Agent will say yes or no.

    If no, move on to the next one.

  • Moneyinthebank on 07/03/2021 - 23:17

    I've seen some ways to negotiate online but I'm not willing to go there

  • csad on 07/03/2021 - 23:47
    +1

    I went through the process recently. I would usually ask the agents straight up during the inspection whether the price was negotiable - it was generally a resounding yes, as it is a strong renters market in Melbourne at the moment. Most apartments in my area have been sitting on the market for months.

    They mostly suggested that we just submit the price we wanted on the application and they would negotiate from there with the landlord. Our application was pre-set with the advertised price but you could adjust the price on the form. That said, I personally like talking to the agent before because it puts a face to the name and gives them a heads up.

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