Although Dubai’s current rental climate favours landlords, as a renter, you can cut costs through clever negotiation and smart budgeting. Remember that while you can request for a rent cut, you need to offer some value in return for the discount as well. Here are reasons your landlord might consider giving you a rental concession.
You always pay your rent on time – All landlords want tenants who pay their rent on time, take care of their property and keep noise levels down. So, if you’ve exhibited a spotless rental payment history and have maintained the house well, make sure you mention it to your landlord. Or, you could consider signing a longer lease to avail a discount. Your landlord might agree to a rent cut knowing he will have an occupied unit for another year.
You can pay several months’ rent upfront – If you can afford to pay a full year’s rent in advance, use it to negotiate a lower rental rate. Even a landlord has bills to pay, so he will need cash flow. Making cash payments upfront will help you save money in the long run and eliminate the hassle of remembering to pay your rent each month.
You have done your research – Find out what rents other landlords in your neighbourhood charge for comparable units and what the vacancy rate is in your building and in other buildings owned by your landlord. Go in prepared with the numbers when you present your case so that you have an argument for your landlord.
You are reasonable – Don’t go overboard. While you can certainly ask for a discount, starting out with a completely unreasonable request can offend or put off your landlord. Do your homework so that you’ll know the rent value worth aiming for.
Look beyond negotiation – If you’ve exhausted your options to secure a reduction in rent, there still are other ways you can save money each month.
- Downsize – Is a smaller unit is available in your building? If not, then look around for properties in neighbouring communities that will cost you less.
- Go green – Be conscious of the energy you consume. Turn out lights when you don’t use them and unplug appliances when they’re not in use to save money on your energy bill.
- Cut other important costs – Look at how much you spend on parking, cable, groceries, transportation, dining out and entertainment and check the list for savings. Buildings that offer free gyms can save you membership costs and properties close to public transportation links can save you thousands on commuting costs.