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If you are a lessee, the market may be changing with your favor.
According to RealTor.com’s new report, as of December, the median rent price in the United States decreased by $ 1,695, down 0.5 % or $ 8 from November.
The latest rent price has been 1.1 % lower from a year ago, $ 18, down 3.7 % from peak altitude in July 2022.
We call it a lessee market.
Daryl Fairweather
Redfin’s Chief Economist, an online real estate agency
According to DARYL FAIRWEATHER, the Redfin chief economist, the rental price has been improved for the new apartment in the pandemic apartment.
“From the project started in 2021 and 2022, there are still units that are currently online,” she said.
Experts say that some real estate managers are considering lowering the offered prices to attract tenants because more new units are available.
This means that this means that the lessor should have more negotiations in terms of lease conditions.
“We call it a lessee market. I think it will continue next year,” she said.
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Indeed, the amount of newly built apartments is concentrated in some areas than in other areas, and rent prices are faster in specific areas of the country.
According to red fins, in December, Austin, Texas, which has a median of $ 1,394 in December, has seen some of the highest -level multi -house housing construction in the past few years. The numbers decreased from $ 1,482 in August, when the median levels of the previous year dropped by 17.6 %.
Experts say Austin’s rent is likely to grow as supply grows and to balance demand.
What you can use as a lessee depends on what is happening in the current market and where you live.
Here are three important steps to take into account if you are in the rental market this year.
1. Find what other units rent in that area
You may live in an affordable area. To find it, compare what other units in your neighborhood are renting. Fairweather said that in negotiations with your landlord and real estate manager.
“If your real estate manager is trying to raise your rent, you can bring information to them to show you should not increase your rent,” she said. “In some markets, it should go down.”
If you live in the same unit for several years and pay rent on time, try to negotiate monthly rent using that history, RealTor.com’s advanced economist, Joel Burner said.
The good point of negotiations is to show your landlord that the rental price is similar in property, but you do not want to move unless you can save money elsewhere.
The tenant turnover rate may be expensive for the landlord, especially if there is no real estate for several months.
2. We will negotiate additional charges to pay
In the memo, Fairweather said, considering other costs in addition to rent. These can be accessed to parking space and other amenities.
According to the apartment list, the price of facilities such as parking garage, shared community space, on -site fitness center, or bicycle storage is a limited price of $ 200 to $ 200 to $ 500. is.
If other real estate shows advertisements calling for concessions such as exemption from parking costs and amenity reduction fees, make sure that the landlord is pleased accordingly.
3. Consider buying a team with your house mate
On the other hand, if you still live in an area that is still “really expensive to rent,” the burner said that you should consider splitting a larger unit with others.
Having a roommate or house mate is a proven way to reduce housing costs. He said that the cost of a large -scale unit at some places is more effective because it has not grown as fast as a small unit.
“Maybe you can find a pretty good amount in an apartment in the three -bedroom and split it with others,” he said.
