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LOWERING YOUR DEPOSIT FEE

Being an adept negotiator can help at many stages of your apartment renting process, but particularly when it comes to lowering your deposit fee. The time surrounding your move from one location to another can prove an exciting, a stressful, and an expensive period of time. You most likely have incurred costs above and beyond your day-to-day living, whether these extra expenses have stemmed from hiring movers, taking time off from work to apartment hunt, or perhaps traveling from your old hometown to the new city in which you will reside, spending nights in hotel and eating meals out in restaurants. All of these measures can add up to have a substantial impact on your wallet. For these reasons and more, you should attempt in any way that you can to bring down the deposit fee associated with your desired rental property.

The most important thing that can be done in this regard to is know your information. Landlords know the ins and outs of standard rental agreement negotiations, naturally, and you will go a long way by displaying the fact that you are likewise familiar with typical lease stipulations, standard fees, and standard practices regarding rental applications. When you have compared multiple properties and conducted your own research, your confidence will show. This will increase your chances of negotiating the desired result; in this case, a lower fee.

Ways to Lower a Deposit

The deposit fee is, in essence, a landlord's safety net. Because you will be residing in a property that the landlord will still own after you leave and will rent out again, the landlord has a vested interest in making certain that no substantial damages are visited upon the apartment. Requesting a deposit fee is one way that landlords and property management teams attempt to lessen their own financial gamble pertinent to your residence. Based upon the reasoning behind it, you may have already gathered that one way to potentially lower your fee involves proving yourself a trustworthy tenant.

Often, credit checks are performed to give a property management team an idea of how reliable a tenant you will be. When your credit history thus far reflects timely payments, low (or no) credit card balances carried over from one month to the next, and judicious credit habits on whole, you will naturally make a more attractive renter than someone with a poor credit score and blemished credit history. Even if minor missteps are reflected in your credit rating, however, there are other benefits you can present to a potential landlord in hopes of lowering your deposit. One of these involves recommendations from a previous landlord. Because this references can hold significant weight, you want to make sure you always leave a rental situation on good terms if at all possible. Having several positive references from the past will especially help.

Lowering your deposit fee can also involve matters such as the application fee. For instance, in many rental scenarios, the property management team charges an application processing fee that can range from approximately twenty-five to sixty-five dollars. This charge is meant to compensation the property management for charges issued to them upon processing your credit and other information as part of the application. Because it could quickly get costly to apply at multiple places, you will probably want to only spend the money a rental property that embodies your list of preferred checkpoints. To help justify the application fee expense, some apartment hunters request that, if they are approved and choose to proceed with a lease agreement, that the application fee be deducted from their deposit fee.

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