Negotating Rent Prices

[Precious Thompson]

Is it common for a landlord to negotiate the cost of rent to a tenant , For example say if a landlord has a property on the market for $700 and the tenant asks can the rent be reduced to $650 will a landlord consider changing the monthly rent cost?

[Matt Devincenzo]

Common...not really, is it tried yes. Personally my rent rate is the rent rate, if you try to negotiate it that tells me you're likely to continue to negotiate throughout your tenancy and may be difficult to work with. 

I do allow for SOME understanding though. My recent tenant asked about the pet rent policy ($250 deposit and $25/mo per pet). I explained it to her and she said "I have 6 hedgehogs could we work something out". I understand that $3000 in deposit and $300/mo in addition to the $2200 first/last/security is not really feasible in a $750/mo rental. The spirit of my criteria is to keep from ending up with a menagerie of animals being moved in damaging my property. So I told her that since they are caged animals I would consider them a single animal and just do the $250 deposit and $25/mo. 

For my base rental rate though there'd be no negotiating. I'm priced slightly below median rent rate and my home is one of the nicest in that rent class, that is the consideration I'm giving not a reduction in rent.