Las Vegas

How to negotiate your rent in the market

LAS VEGAS (KLAS) — New knowledge about the housing disaster is exhibiting that rent is climbing and house stock is low.

According to Rent.com, house rental costs are up about 3 to 4% for one- and two-bedrooms nationwide.

“I don’t think that this is sustainable in long run, these rent prices being up so high. Prices for one bedroom are relatively flat, a little bit down by 4%, but two bedrooms are up 14%,” stated Brian Carberry with Rent.com of the Las Vegas market.

Last year, rent throughout the nation went up by 26%.

In scorching markets like Austin, Texas, individuals are paying 80% greater than final year.

“They’re paying almost $1,000 more now than they were at this time last year,” he stated.

Carberry stated he believes that costs are nonetheless growing, however at a slower tempo.

Regardless of the place you reside, everybody might use slightly assist negotiating their rent. But is there room for that proper now?

“A lot of landlords aren’t willing to negotiate because the demand is so high, and competition is so fierce,” Carberry added.

Here’s how to negotiate house rent for your subsequent lease:

  • Ask if there may be wiggle room in rent value (that is extra favorable if the landlord is aware of you)
  • Ask to signal a 24-month lease as opposed to a 12-month lease to lock in at the moment’s month-to-month value
  • Parking areas can typically be negotiated again

“See if you can negotiate that parking back, parking is one of the top amenities that people are looking for, especially families that have multiple drivers. If you can give that back to a landlord, they may be willing to cut a little bit off your rent price, and market it to someone else and get that money from another renter,” Carberry urged.

To see all rental tendencies in southern Nevada, visit this link.

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