Magnolia Property Solutions, LLC

Real Estate Investing


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Renters Be Aware

With the rent rising and the popularity of renting still in it’s booming phase, it’s going to be a tough market to get the living space you are looking for.

There are a few smart tips to go into this market with that might be beneficial for you in this process. With the prices rises, it might be smart to consider sharing the rent.

If that’s not an option, know your rights! It’s important to know the rules for fees and deposits and to protect yourself from those landlords who aren’t as reliable or trustworthy.

Anticipate extra fees and costs. Expenses can rise with parking, insurance, and amenities. Never go to your maximum budget because there will always be something extra you aren’t taking into account for. If you are one of those lucky ones without any hidden fees, you’ll appreciate that extra income later on.

Be prepared to negotiate. Since renting is on it’s rise, the competition can get rough. Keep all your information needed for an application ready so there is no wasted time, and accept that you might be fighting with others for the same space.

Be willing to compromise. You are not going to get what you used to pay for. ¬†Accept the fact that you might need to live with less and be reasonable. Renting is stressful enough, you don’t need any extra stress added onto it!

Be prepared. Be ready to negotiate. Be open to different possibilities.


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Are You Negotiating?

When most people sign lease agreements they may not realize that some things are actually negotiable! Most assume that everything is set in stone and they just have to take what they are offered. Here are a few things you might want to consider talking about during your next lease agreement:

Apartment Building CASP 74 / Bach Arquitectes

Rent!

Your rent price is set by your landlord on what they think it is worth. That doesn’t always mean that it is what it is actually worth! Take a look at other options and come ready to let them know what the true value of their space is and what you are willing to pay.

Classic and Elegant Townhouse

Amenities!

Most amenities come with additional fees. Gyms, pools, parking and add more than you were hoping for in your monthly bills. You can negotiate these to be put into your monthly rent or ask for one time only payments! Don’t want all these amenities? Ask to only pay for what you’ll use.

Primrose Hill - dream place to live really

Pets!

Some places have a strict no pet policy and most of them choose this option because they have been burned before by previous tenants. If you have a certain size, species, or just a really well behaved quite pet – you might be able to swing getting them in with you! This might include an additional fee, but it may be well worth it in the end.

Pet Friendly Home Tour: Jess Lively & Franklin | Pretty Fluffy

Deposits!

Didn’t know deposits could be negotiated? Have you been renting for a while and have a great record and some contacts to prove so? Do you have renters insurance to cover any damages? If you are able to prove those things you might be able to lower the deposit cost or have it taken away altogether.

What are you thinking about negotiating?