How to Negotiate with a Landlord
My landlord is asking for a 50% increase in my rent. However, my contract caps the increase to 10%. He's not budging. After the first negotiation, he went down to 40%. What are the next steps I should take?
1. Offer him $10,000 if he will give you a year lease
2. Offer him $20,000 for a two-year lease
3. If he says no, then offer to buy the building from him
4. I suggest these three steps because they are all real life things I've done in my life
5. The first step is important because you are offering him cash up front
6. The second step is important because you are upping your ante and making it clear that you are willing to invest more in this relationship than he is (which means he will probably give in)
7. The third step is important because if he says "no" again then you can use the cash from the sale of the building to buy another building down the street or even one across town if need be
8. Negotiating with a landlord is like being married but without any sex
But at some point, one side has to compromise or else both sides get hurt financially and emotionally (if there was emotion involved)
9. In marriage, sometimes people get divorced because they can't compromise anymore on certain issues (or maybe just one person can't compromise).
10. When negotiating with a landlord, try not to get emotional about things like "I've been here five years". Because landlords don't care about that and they know people move all the time anyway so why should they care?
11. They do care about their bottom line though so find ways to increase his bottom line while staying within your budget (i.e., 10% increase) and also finding creative ways to decrease your bottom line by increasing his bottom line (offer hi
12. Sometimes landlords will negotiate with tenants who live month-to-month versus year-to-year leases since those tenants may move out sooner if negotiations go poorly so it's easier for them to evict such tenants quickly when needed.
13. But once again
Don't want everything all at once or else neither side gets what they want and everyone gets hurt financially and emotionally (if there was emotion involved)
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