Negotiating a lease as a tenant

Hey guys,

I'm 24yo and own 9 properties so I've got a bit of experience being a landlord but never rented myself before!! I'm looking to rent an apartment with a mate and have a couple of questions. Location will be in the Inner West, Sydney.

1) It's better for me to not go on the lease, and he is happy to go on the lease and I will then pay him. I assume that property managers/Landlords are okay with this and there's no issue telling them this is what we want to do?
2) When there is a fixed price shown, is it common to try and negotiate this price, or do tenants generally always pay the asking rental? Would I be frowned upon if I try and negotiate the price down?
3) Some ads show something like 'By Negotiation $470-540/week' with a ridiculous range. What are some things that could work in my favour when negotiating the price? Perhaps offering to pay 2 month's rent in advance? I'm on a high income but that won't mean anything to them if I'm not going on the lease so I can't really use that to my advantage...

Any advice would be appreciated! Also if anyone has a 2bdr unit in the Inner West I'd be happy to chat!

Cheers

 

Would you pay your rent on time, look after the property, and treat the neighbours, some who are elderly, in a quiet block, with due courtesy, assuming that you would expect the same from each and all of your tenants?

 

Contents Insurance on rented properties don't often extend when an "insured" tenant is sharing the property with other unrelated people (whether named on the lease or not). Just be mindful, if this lease scenario eventuates for you, on how it may affect any contents insurance you may require. (Presuming you want contents insurance cover for your possessions).

As for not being named on a lease, if you disclose this any prospective LL will probably raise an eyebrow. They may presume you have a criminal record or bad previous rental history etc.

 

If the area you want is in high apartment oversupply then you should get a good deal

I moved to Brisbane for a contract and signed up for 6 months

A periodic lease suited me as didn't know if I wanted to extend contract or move to another role so I managed to negotiate that with no increase

If you prove you are a good tenant in an oversupplied market landlords will bend over backwards to keep you

 

Just get your mate to put the application in for himself and his 'partner', without disclosing - a good agent will push for all adults to be on the lease (& bond form).

 

Thanks for your responses.

We ended up securing a unit - my mate is on the lease by himself and he made it clear that I would also be living there - agent had no issues with it. Also speaking to other agents they didn't seem to mind.

We ended up paying the asking price for a unit because we really liked it, but on other properties, agents were inviting us to make offers below asking prices which I thought was interesting.

Hope this is helpful for anyone else in my situation...

Cheers

 

If you would live there, you need to be on the lease if it were put to me, mainly for insurance reasons but also so your responsible as well.

On negotiating, if it shows a range, I would, if your already a landlord, you probably know what rent you should be getting, so how would you take an application that is trying to lower the rent ? I would look at it if asking top dollar and something special about you, or you were going to perform extra maintenance maybe.

 

All adults living in a property are required to be on the lease agreement

 

Required by who?

 

By office policy to protect landlords interest.

 

OP, your the same age as me but with 9 properties. Congratulations!

 

So I couldn't rent through your agency if my application was successful but my partner was away from home when I was required to sign the lease or moving from interstate but I came to lease the property without them?

 

Taking into account context as well. The comment was a general position and with everything in life circumstances context is taken into account. I do hope this offers more clarity ..