Certainly, one of the major issues faced by middle-class individuals while looking for flats is the skyrocketing rental price. Some people have budget limitations and they struggle to pay high monthly rent prices along with other daily family expenses. Considering current market scenarios, if a person is planning on taking flats for rent in Delhi, he must be aware of the term reasonable negotiation for rental increase.
Well, the landlords have an absolute right of deciding rent considering the market conditions. He can also revise and send the notice of the same to the tenant. However, the tenants also hold the right to effective negotiation in such a way that it does not harm the landlord and tenant relationship.
The following are some tips that would make negotiations reasonable on the part of both parties:
Do thorough research about the market-
The tenant before making unrealistic negotiations about the rental price must do thorough research regarding the average rental prices being running in the market. The easiest way of doing market research is by browsing the internet portals. Such portals would help in having clear insight about the rental prices being charged for the neighborhood properties. Brokers and neighbors could also be a great source of information for market rates. Therefore, the individual must collect required information about the rental flat rates considering the type of property that they are interested in.
Have a clear idea of how much is the worth of your flat-
Another most crucial thing that the tenant must look after is the worth of the rental flat that they are considering. For this, the tenant has to check if he gets enough value of the property for which he is paying a hefty rental amount. If he realizes that he is not getting enough value of the property then he can demand other available options. Another factor that plays a significant role is the rental charge paid by the previous tenant for the property. In such a case, the tenant is obliged to pay at least the same amount that the previous one was paying. Also, the tenant can surf the internet and check rental laws and guidelines regarding the increments in the rental amount.
Put forward for appropriate conditions-
Sometimes the tenant can also put forward certain conditions in exchange for an increase in rental charges. If the tenant was not getting any kind of amenity, then he could stay in the advantageous position and ask the landlord about the provision of the same. For example- If the landlord is not ready to decrease the rent amount, then the tenant can request some repairs against the price increments. However, the tenant is a part of the negotiation and can not be forced upon the landlord. Upon healthy discussion between the two parties, a conclusion will be brought forward.
Proposal for the extension of rental agreement-
Another best thing that the tenant can do is put forward his proposal of extending the rental agreement for a long period. Since it is not sure that the landlord would immediately get new tenants after the existing ones leave. Therefore, the landlords usually accept such proposals as they are reassuring. The rental agreements are generally signed for a specific period which can be extended as per the request made by the tenant and accepted by the landlord. However, if the tenant is planning to relocate to a new place such a proposal would be of no worth.
Be a worth tenant-
No landlord wants to give his place to a bad tenant. Having a bad tenant will only cause trouble and cost more. Hence, you are somebody who always pays rent well on time and keeps the rental flat intact, and contributes towards the maintenance of the same, then you would be in a better position in negotiation with the landlord. Additionally, the tenant can also propose to contribute towards repair and maintenance expenditure of the flat or pay the certain rental amount in advance. Such acts will prove that the tenant is worthy of making negotiation and the landlord will take his ideas seriously and reach out for the conclusion.
These are the few tips that make reasonable ground for negotiation with the landlord. These negotiations should be discussed healthily with the landlord so that it does not lead to any kind of dispute. Upon the discussion and acceptance by both parties, the final decision will be taken. Henceforth, both parties should take this task seriously and reach out to the decision that complements the interests of both.
If you are a student and an unmarried individual looking for single rooms on rent in Delhi, then also these points would help you in attaining better deals.