Negotiating rent for the right tenant

[Colleen F.]

I have had a number of people look at a current rental and the ones that apply have been rejected so far. They are really borderline candidates, not terrible but with a couple of items put together smoker no rental history well they just weren't strong. I did have two candidates that looked good , one in particular that did not apply but I see is posting that they are looking for a place with slightly less rent. Would you follow up and feel them out on a negotiation? How would you do it? I know the post is her as it is a small area and she is a woman veteran with two kids and the details match. She wants to stay in this town. I liked this candidate and she suggested during the time she was there that she could mow the lawn (which is currently included due to no storage for lawn mower). I was thinking of suggesting less rent for lawn mowing on this and the adjacent property as we have a ride on mower. Since she only came not long ago I could just followup with an old email or call back which I normally don't do. I can wait for another candidate and the price would be better but I am tired of the nit wits,I think she would be a good candidate if interested, and moneywise if we she will mow I think I am about the same.

[Jon K.]

I base rent on market rate and property condition/upgrades.

I never would negotiate rent with a potential tenant. They'll think you're desperate, and they'll think you're a pushover. Once they break your first "rule" (rent amount), they'll want to break rules right and left (smoker, pets, whatever). Credit score might be negotiable, pets might be negotiable.

I don't let tenants do anything to discount rent. They either won't do it at all or won't do it well-- or worse, will "try" to do it, get/fake an injury, and sue. Most likely they'll simply take the discount and not do the work at all.

If the tenant likes your property and wants to live there, they'll pay market rate rent. If they're not willing to pay or don't qualify, don't accept them.

Research comparable properties in the same condition as yours and find the real market rate. Or look at your rental criteria. No evictions, rental history, no smokers, and verifiable income should still be a must.

Try advertising in other places, getting better photos of the property, changing up your ad description. "Cute home" or "Great 2 bedroom in convenient location." Rotate the ads you post daily on Craigslist. Put a sign in the yard too.

It's slow season. Most people don't want to move over the holidays. A property sitting empty a month is better than a nightmare tenant who pays less than market rate rent and causes headaches all year or has to be evicted.