Renting an apartment in Nigeria, particularly in Abuja and Lagos can be a bit challenging due to the high cost of living in these cities. For instance, the average annual rent for a one-bedroom apartment in Abuja can range from N700,000 and above, depending on the location and amenities available.
The high rental costs can put a strain on your budget, especially if you’re on a tight budget or have other financial obligations to fulfil. However, you can take proactive steps to negotiate the rent and potentially save some money.
Here are some tips to help you negotiate the rental price of an apartment:
Do Your Research
Before you start negotiating the rent, you should do your research on the current rental market in Abuja. You can find this information by checking online property listing websites or by contacting a real estate agent. This research will give you an idea of the average rental prices for one-bedroom flats in the area you’re interested in. Armed with this information, you’ll be in a better position to negotiate fair rent for your one-bedroom flat.
Start Early
It’s essential to start negotiating the rent early in the process. When you find an apartment that you’re interested in, don’t wait until the last minute to start negotiating the rent. If you start early, you’ll have more time to negotiate and will be in a better position to secure a lower rent.
Be Prepared to Walk Away
If the landlord or property manager isn’t willing to negotiate the rent, you should be prepared to walk away. There are plenty of one-bedroom flats available for rent in Abuja, and you don’t want to get stuck paying more than you can afford. Walking away from a property may seem like a difficult decision, but it’s better to find a more affordable option than to struggle to make rent payments each month.
Consider Long-Term Lease Agreements
Long-term lease agreements are a great way to negotiate a lower rent for your apartment. Landlords and property managers are often more willing to negotiate the rent if they know that you’ll be staying in the property for a longer period. If you’re able to commit to a two or three-year lease agreement, you may be able to negotiate a lower rent.
Highlight Your Positive Attributes
When negotiating the rent, it’s essential to highlight your positive attributes as a tenant. For example, if you have a stable job or a good credit score, you can use this to your advantage. Landlords and property managers want tenants who will pay their rent on time and take care of the property. If you can demonstrate that you’re a responsible tenant, you’ll be in a better position to negotiate a lower rent.
Offer to Pay Rent in Advance
If you’re in a position to do so, offering to pay rent in advance can be a great way to negotiate a lower rent. Landlords and property managers are often willing to offer a discount to tenants who pay rent in advance. For example, if you offer to pay six months’ rent in advance, you may be able to negotiate a lower monthly rent.
Be Flexible
When negotiating the rent, it’s essential to be flexible. For example, you could offer to sign a longer lease agreement in exchange for a lower rent. Alternatively, you could agree to take care of some maintenance tasks around the property, such as painting or gardening, in exchange for a lower rent. By being flexible, you may be able to negotiate a lower rent and save some money.
Get Everything in Writing
Finally, when negotiating the rent, it’s essential to get everything in writing. Make sure that you have a written agreement that outlines the terms of the rent, including the rent amount, the length of the lease agreement, and any other conditions. This will help to avoid any misunderstandings or disputes in the future.