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How To Get The Best Rental Accommodation In The Area By Using Your Capital
My report is for you to use your power to negotiate, not only a reduced weekly cost of accommodation, but also to get the best accommodation available in the area in which you wish to live. Hello Colm Dillon here ... Market conditions will effect the final outcome. Irrespective, a good negotiation, following these guidelines, will save you money. Get to know the state of the market before you commence. Determine how much you can afford to pay and then go higher. For example if you can afford $200 per week, start looking at a figure of say $250 - $260 per week. If you fall into a higher bracket; say $400 per week, start looking at $500. Go to several real estate agencies and ask them what they have on their books at the amount you nominate. Also tell them your preferred areas. Go through the normal selection process and pick the best place in which you would be happy living. Confirm the weekly/monthly rental with the agent and the length of the lease term i.e. 6 months etc Confirm with the agent that you really like the place, although there are a few others you like as well. Don't say which ones, just give the impression that their agency is not the only 'cab on the rank.' Note: Final selection by you will be made on the basis of the landlord attitude, as you intend living in the property for a 'while.' Start The Negotiation. Ask the agent to find out how much the landlord would accept for a 12 month lease. He will probably reply by stating the same amount back to you as you would pay for a six month term. Start ramping up your approach by enquiring about a 2 year term. At this stage you should be getting the agent to phone the owner and coming back to you with a discount. You could leave the agency for a hour or so ... allows time for the agent to see that you are giving serious consideration to the other properties, as well as theirs. Don't be to automatic in your process. "Time" is a wonderful tool in negotiation. Generally talk a bit more to the agent and raise the question of what discount the owner would accept for a 3 year lease term. Again a phone call to the owner should take place. If the agent is making all the decisions without calling the owner, you should insist, as h/er does not have a big latitude in rental decision making. The owner is the agent's 'boss.' You should expect a further discount from this latest approach. The agent may start to feel as though the negotiating should be coming to an end. Don't worry, you are about to bring out the 'Big Guns.' Confirm again that you are warming more and more to the property, but there are a few other things you want to raise. Tell the Agent that you would consider pre-paying 12 month rent in advance, if the owner would come to the party on the rent. Emphasize, the lack of risk to the owner; a large one off payment in his hand now that could be used to buy more property, etc etc. Expect a reduction and Get It. Depending on how your are going in the reduced rental stakes, in approaching your target base rent price, you may have one further go and offer 18 months or two years rent payment in advance. You may hold off with this final offer by leaving the office after the last response. The agent and owner have given ground on the rent so they may be feeling a bit tender. Let them 'marinate' for a few hours; maybe even over night, then put the last proposal of the 18 to 24 month prepayment of rent. Once again, only you can judge how the negotiations are going. Most people want to 'do a deal' quickly and do not have the patience for a long term, several hours, negotiation. By adding a more and more enticing offer you are making yourself more desirable as a tenant ... you will start to surround yourself with a "Golden Glow" of desirability. When the final deal is done on rent and before you sign any Lease, you can now raise any property questions you have; i.e. carpet shampoo, condition, painting, plumbing, door locks, blinds etc etc. Take photographs on a dated film of every aspect of the property (2 copies) one for the agent, one for you. You sign the back of the photos you give the agent and they sign the back of the copies you keep and it is noted in the lease. When all these actions are taken, you will have accommodation, that you want, that is better than the original $xxx per week would get and you are secured for 3 years. Finally, from these negotiation processes, both the owner and the agent will hold you in high regard, because most people admire a good negotiator. Happy renting Note: There is a financial mathematical formula called Discounted Cash Flow (DCF) which can be described as a means of calculating the 'Present Day Value' of 'Future Cash Flows.' So what does that mean? Let's say that you have got the $250 per week rent down to $230.00 before you start offering to pay rent in advance.OK? In making the decision to pay in advance, you are giving the owner an amount of cash that they can use to make other buying investment decisions. What this means is that the money you give them can earn them an amount of money, and we'll call that 'interest' - just like the bank. This is just one concept I want you to lock away. That concept has been given to you so that you can see, or understand, my next concept of DCF. Imagine writing across a page a whole string of $230, $230, $230 etc for every week you would normally have to pay that rent; 52 times or 104 times. Now imagine discounting the 52nd $230 by an interest rate of whatever; say 5% for 52 weeks. Then the next $230 is discounted by 5% for 51 weeks and so on until you get back to zero weeks. Having done all these calculations and then add them up you arrive at a $value of all those Cash Flowed $230's for 52 weeks or for any other period. I have not done the calculation for you because individual circumstances vary so much. However it is this discounted amount of money that you offer to the property owner. Now going back to my first concept, you can see how the owner can invest the money. If they were to earn say 5% they would almost get back to the figure we started with i.e. 52 x $230.00 except of course the investment would also have gained in capital value. I hope this brief explanation helps you understand why you should expect a discount for the Pre-Payment of rent or any other purchase you make where payment over time is the deal. Last Point: If you were to leave your pre-paid rent in your bank account you would pay Tax on the interest you earned. The Discount you get off your rent is Not Taxed and so is much more valuable to you and in effect you are getting a better return on your money invested in RENT. This Article Shows You How To "SAVE MONEY & GET WEALTHY" by Renting & Using You CAPITAL.
MORE RESOURCES: Batman’s Office and Secret Bathrooms—These Real-Estate Agents Have Seen It All The Wall Street Journal Real estate expert warns socialist mayoral candidate could trigger massive NYC exodus - Fox Business Office real estate wide open in Denver as vacancy rate hits 36 percent Colorado Public Radio Altadena’s rough real estate market: Slower sales, lower prices, lottery winner plucking up properties Los Angeles Times Erie County real estate transactions Buffalo News Real estate magazine reports Les Wexner as Blue Heron buyer The Martha's Vineyard Times 'Married to Real Estate' Stars Get Huge News after HGTV Cancellation Country Living Magazine NAR Real Estate Forecast Summit National Association of REALTORS® 20 Worst Housing Markets Facing Biggest Price Crash or Correction by 2026 Norada Real Estate Investments Residential lending shifts: Local credit unions gain ground, banks lose volume The Business Journals Real Estate agent speaks out as sheriff’s investigators search for missing foster mom fox5sandiego.com How Trump’s personal aesthetic is redefining White House décor: 'I picked it all myself' USA Today Central Mass. real estate transfers, Sunday, July 20 Worcester Telegram Future of malls: Arizona's retail centers evolve as customers' habits change The Arizona Republic Neal Communities to celebrate Palmera at Wellen Park grand opening on July 25 Sarasota Herald-Tribune Don’t Skip This Moving Day Step: What to Clean Before Handing Over the Keys Better Homes & Gardens I Tried Zillow’s New Aerial 3-D Search Tool, And I'm Obsessed Country Living Magazine Real Estate Property Transfers Spring Hill for June 23, 2025 Williamson Source Old Family Dollar demolished in Quincy Center. What will take its place? The Patriot Ledger New report documents that it's harder for Columbus and other Ohio residents to make rent The Columbus Dispatch Couple in California surrogate case also faces two lawsuits over real estate business practices NBC News International Buyers Purchased $56 Billion Worth of U.S. Homes from April '24 to March '25 National Association of REALTORS® Canadian psychologist Jordan Peterson sets up shop in the Valley, records show The Business Journals Real Estate Transfers ~ June 25, 2025 The Bedford Citizen Top Real Estate Stocks Fast Growth Stock Alerts - Explosive earnings growth Autocar Professional ‘Taken advantage of’: Real estate agent ripped off friends, church, and federal government WSOC TV New Hampshire the latest state to ban right-to-list agreements Real Estate News by RealEstateNews.com July Economist Snapshot: What Will the Big Beautiful Bill Mean for Commercial Real Estate and Housing? Urban Land Magazine Top Stocks for Real Estate Investment Premium Investor Signals - High-velocity capital appreciation Autocar Professional Florida Real Estate: The Hidden Opportunity Amid Market Crash Concerns Norada Real Estate Investments Best Real Estate Stocks Group Insights For Smart Investments - Overwhelming profit margins PrintWeekIndia OT Real Estate Spotlight of the Week: 3234 KY 140 East The Owensboro Times Is Wheeler Real Estate Investment Trust Inc. a good long term investment - Rapid-fire capital growth PrintWeekIndia Real estate sales for Summit and Portage counties the week of May 27, 2025 Akron Beacon Journal Why these homeowners say the 15-year mortgage is the most underrated offering in real estate right now MarketWatch A New Perspective: Here Comes the Groom | Real Estate Insights Piedmont Exedra Tuscaloosa County home listings asked for the same amount of money in June – see the current median price here The Tuscaloosa News ‘Making more money than ever before’: Las Vegas real estate agents using loopholes to charge higher commissions Las Vegas Review-Journal RNR Real Estate Briefs – Texas & More Realty News Report Real estate transfers: 7/16 Toledo Blade How much did that house sell for? Deed transfers in Ocala/Marion: May 19-25, 2025 - Ocala StarBanner Top Stocks for Real Estate Investment AI Stock Forecasts - Free Investment Case Studies Autocar Professional Real estate agent goes viral with racy jokes, Trump impersonations Business Observer Bitcoin Is Draining The Value Out Of Real Estate Bitcoin Magazine Top Stocks for Real Estate Investment Free Market Trend Analysis - Lightning-fast capital gains PrintWeekIndia Founding Father John Hancock's home is on the real estate market in Boston. Take a look The Patriot Ledger Best Real Estate Stocks Trusted Expert Guidance - Overwhelming financial success Autocar Professional Top Stocks for Real Estate Investment in India Premium Financial Forecasting Tools - Unmatched market performance PrintWeekIndia Top Real Estate Stocks Fast Growth Stock Alerts - Phenomenal capital gains Autocar Professional Eric Adams Is Raking It in From Big Real Estate New York Magazine Real estate sales in Peoria, Tazewell and Woodford counties for July 19, 2025 Peoria Journal Star Mediterranean-style mansion in The Woodlands among priciest home sales week of July 6 (PHOTOS) The Business Journals New Valley mansion near Billionaire's Row lists for $13.5M The Business Journals Best Real Estate Stocks Expert Backed Stock Investments - Superior portfolio returns Autocar Professional Real Estate’s Big Gains From AI Morgan Stanley Bard College hires real estate advisor and broker to sell Simon’s Rock campus - The Berkshire Edge HGTV’s Egypt Sherrod Shares Cryptic Message After ‘Married to Real Estate’ Cancellation tvinsider.com Scammed, Shamed and Deepfaked: Real Estate Agents Speak Out on the $15M Crypto Con National Association of REALTORS® Best Real Estate Stocks Smart Trading Moves - Explosive earning power Autocar Professional |
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