Updated over 2 years ago on . Most recent reply
Reducing rental price for prospective tenants
Hello!
I have a multifamily property and would like to know if agreeing to a request from a prospective tenant to reduce the rent after showing the property would expose us to any liabilities? For example, if we advertised the property for $2,000 per month and then agreed to rent it for $1,850. For example, could someone else reasonably claim discrimination. If so any steps to mitigate this? Any thoughts?
Thanks
Most Popular Reply
Richard F.
#4 All Forums Contributor
#4 All Forums Contributor
- Honolulu, HI
Aloha,
Are you negotiating blind, or have you already done your background and credit check on the applicant? There is no good reason to reduce the rent just because someone is waving hundred dollar bills at you. Next they will want to change the due date. Then they want to paint a bedroom. It never ends. Better to stop them now. If you feel you are over priced based on responses, change your ad prices, or upgrade the unit to be competitive.
Are you negotiating blind, or have you already done your background and credit check on the applicant? There is no good reason to reduce the rent just because someone is waving hundred dollar bills at you. Next they will want to change the due date. Then they want to paint a bedroom. It never ends. Better to stop them now. If you feel you are over priced based on responses, change your ad prices, or upgrade the unit to be competitive.