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Negotiate Your Rent

By Tony and Libby Kelly

Real Estate Agent with Keller Williams Realty Portland Premiere

January 26, 2009 10:10 AM

It seems that economic crisis has caused an opportunity for some. (besides buying up cheap properties) Apartment vacancies are on the rise putting people in a mighty good bargaining position.

Managers are starting to get desperate to get and keep people in their buildings all across the country. The Portland OR area is one of the biggest rent drops of -3.2%. So if your lease is up, now is the time to talk to your landlord about a new longer and cheaper lease.

http://finance.yahoo.com/real-estate/article/106480/Rents-Drop-Nationwide-as-Vacancies-Spike

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Margaret Oscilia

Creative Concepts-Home Staging and Contracting, Salem Oregon - Salem, OR

Home Stager, Salem Oregon

I would have thought that since people are downsizing or losing their homes that rentals would be more in demand and prices remaining stable. Interesting statistic - thanks for sharing!

Jan 26, 2009 11:35 AM

Bo Hussung

Bell Title /Triserv LLC - Nashvle, TN

Tony and Libby,

Nice post for the consumer. Great article reference and community tie in

Thank

Jan 26, 2009 02:16 PM

Dale Chambers

Exit Realty Professionals - Portland, OR

Hey Tony, Is there any way (easy way) to discover what the going rate is in an area other than just calling the various complexes? I'm on a month to month right now, but wouldn't mind renegotiating a lower rent. Is there a resource that would give appropriate vacancy rates for the metro area? Thanks.

Jan 29, 2009 05:45 PM

Pangaea Interior Design Kitchen & Bath Design, Remodeling

Portland Oregon - Portland, OR

Wow, this was surprising to me. I thought that because people are having a much harder time qualifying for loans in order to buy, that renters were becoming extremely plentiful. Many of the sellers I have staged for have pulled their properties from the market and put them up for rent instead. Is that why this is happening? More properties available for rent?

Feb 03, 2009 02:56 AM

Karen Cooper

Karen Cooper | Sr Mortgage Loan Originator ! NMLS # 223305 | First Federal Bank of Florida, Ocala, FL - The Villages, FL

Helping Homeowners w/Home Loans in 27 US States

Hi Tony & Libby - we'd like to negotiate the rent on the commercial building our businesses are in! Rent seems pretty high having gone up with the July 2008 CPI increase due to energy prices!

Feb 04, 2009 07:53 AM

Lara O'Keefe

North Texas Home Finders - McKinney, TX

That's great advice. I would not have though to take advantage of that. Or they could just buy a condo or home from you :-)

Feb 07, 2009 04:27 AM

Negotiate Your Rent

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Tony and Libby Kelly

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