With rent prices surging, did you know you can negotiate a lower monthly cost?
MINNEAPOLIS -- You don't need us to tell you that everything is getting more and more expensive. The housing market is no exception, leaving many people no option but to rent.
The average rent is just over $1,500 a month in the Twin Cities, according to Zillow. Mike Kaeding, CEO of Norhart, shared some tips on how you can save some money if you're renting.
He says negotiating a lower rent might, in fact, be a possibility.
First, target large new buildings. These buildings have investors who want to fill the building quickly. Leasing agents are under pressure to give out excellent concessions rather than to leave a unit empty.
Secondly, time your move. In many markets, landlords are desperately looking for new renters during the winter.
Lastly, don't accept your landlord's proposed lease renewal. If the landlord fears you may move out, they'll likely extend deals to you that normally reserved for new renters.
Understanding how landlords think will help your audience obtain better deals.