Renovating is all well and good if you’re a homeowner, but if renting is more your speed, your updating and customizing options are going to be limited, courtesy of your landlord. It is, however, still possible to get the rental of your dreams. You just have to know how to negotiate.
Here’s a quick guide to convincing your landlord to led you renovate.
Take another look at your rental contract
Before you talk to your landlord, pull out your lease agreement and read it through. Most contracts will have a section that outlines what sort of repairs you can and can’t make to the place without your landlord’s approval. Most of the big stuff will be on the naughty list, but landlords are increasingly open to allowing tenants to paint these days, so long as they re-paint the walls again before they leave.
Upgrades your landlord is likely to go for
Landlords aren’t all the same, of course, but for the most part, you can count on them having similar goals: to attract good tenants, to keep good tenants, and to maximize their potential rental income. Keep these three things in mind when going over your wish list, and look out for these sort of projects:
Upgrades that will keep their property competitive. It’s in a landlord’s best interest to keep their property positioned in at least the middle of the rental market. This can mean you luck out on anything from high-speed internet and new air conditioning to investments in energy efficient upgrades.
Low-cost cosmetic fixes that tenants will appreciate. Landlords like cheap ways to keep their tenants happy. Think the sort of things that you could afford to do yourself, but really shouldn’t have to, like new toilet seats
Projects that won’t harm their likelihood of attracting future tenants. If you’re one of those aforementioned good tenants and have a positive relationship with your landlord, your odds of being able to talk them into allowing changes like addling ceiling fans, new counter-tops, and extra electric outlets are fairly high.
Remember, though, that if the upgrade won’t pay out anytime soon or is specific to your tastes, you’re going to have to pay for it one way or another, be it upfront or through increased rent.
How to convince your landlord
Once you’ve figured out what exactly you’re allowed to do according to your lease agreement, it’s time to make a case for the stuff you aren’t allowed to do.
First, time it right. Landlords have a greater incentive to negotiate on cosmetic upgrades around when you first sign your tenancy agreement and when the time comes for you to renew.
If payment becomes the big issue, here are a few strategies you can take:
- If you’re handy, offer to provide the labor if your landlord buys materials.
- Offer to chip in to get higher-quality appliances (versus builder-grade).
- Offer to pay for the upgrades yourself, and receive a discount on your rent each month in return.
- Find comparable apartments with the upgrades you want and show your landlord how much more they could charge. Just be prepared for them to up your rent unless you address this issue with them too.
Easy to remove rental updates
If convincing your landlord was a complete bust, you’re not completely out of luck. There are plenty of ways to upgrade the look of your apartment without risking your security deposit.
Swap out fixtures. Light and sink fixtures are all easy enough to change with the help of a quick Youtube tutorial and they can have a big impact. The same goes for drawer pulls and handles on kitchen cabinets. Just make sure you save all the originals so you can switch them when you move out.
Make the most of contact paper (and removable wallpaper, washi tape, etc). There are all sorts of temporary peel-and-stick options out there to cover up everything from ugly counter-tops and tiles to the dreaded rental beige walls.
Get some new shades. Most rentals come with cheap plastic blinds that block light and detract from the space. Remove them (and save them to put back up later) so you can put something up that looks better.
from Total Mortgage Underwritings Blog http://ift.tt/2bGsIk9
No comments:
Post a Comment