If you have ever tried to rent an apartment before or you simply know someone who has then you should already be aware of the idea that apartments can be volatile when it comes to the overall economy. A landlord not only wants to generate a profit, but they may need to continue paying a mortgage on the building. However, when certain things happen in the economy you could seek out a new apartment because while the rest of the economy is taking a dip or a dive, you may be able to score a solid property when landlords are desperate. Make sure you look into the following to have the best chance.
Know Where Job Dips Are
As a Calgary Buzz article states, when the rental rates start to weaken and vacancies rise, then the prices and rents of those apartments will drop like a stone in water. The most interesting thing about rents is that while you may be avoiding a mortgage by paying to live in an apartment, someone still needs to own that building. And, if a landlord hasn’t paid it off, then it means he or she will most certainly need to figure out how to get cash flowing through the door even if the economy is bad.
This can mean that as long as you hold onto a job during periods where the economy takes a dip, you can get far more bang for your buck. The owners of apartments will start to drop their prices in order to make sure their units are full, and then at the same time they will be able to offer you a much nicer place that would originally be above your price point for rent, just because others are starting to move out.
Constantly Searching
If you are trying to find the perfect plot in the perfect area, then all you need to do is find the best apartment for sale by using PropertyGuru Malaysia as your main search tool. There are a tremendous number of properties listed on a search tool just like this one and it means instead of having to create new searches, new parameters, and go through all of the filters each and every time, you can just stay up to date. There are a significant number of opportunities to look at properties as well when you are using a search tool you can trust. And, because it is all online then you can get instant information updated constantly and continuously. Plus, you don’t need to spend more than a few minutes at a time searching because the user functionality is so simply to use.
Move Where Friends Are Moving
Even though you may not want to fully live with your friends, you can at least go to the same neighborhood as them. On the one hand you should be able to be close to the people you like and the people you spend time with anyways, so there is at least one plus to moving to a general area with them. And on an additional note, if you surround yourself with like-minded people then you could wind up seeing a community of others who are in the same boat as you. It’s never bad to be surrounded by many people in the same positions and jobs, living the same morals and ideals, and even being close to those who have the same financial expectations. If you can understand the types of people you will be living by, then you can all go in the same direction together with respect to property maintenance and landscaping, doing projects and renovations, and even as far as general home value. Plus, even if the economy does turn sour for a bit, at least you will know your neighbors and everyone can keep an eye on one another for the time being.
Additional Opportunities at Renewal
When you think about the number of landlords who will do almost anything to get people through the door when the economy is slowing down, there is also a tremendous amount of opportunity to put the same level of leverage on your current landlord in bad times. Obviously he or she doesn’t want to just drive tenants out the door, so you may just want to take the time and talk to them about what would make sense for them to be able to keep you. After all, if they were going to offer a discount to other tenants to move in and fill the rooms, why you should be stuck paying full price as a loyal tenant?
Being able to negotiate your rent is a very simply step and it should be one of the first you do before spending time looking for another place to live. Always have a backup plan just in case your property manager gets upset at you asking for a discount, but another way of looking at it is you are thinking about leaving and before you do you would like to help them by offering them a chance to keep you. As Lifehacker says, make sure you know your facts in case you already have a great deal. But, if you approach it in a calm way then you may just get a discount moving forward.
Whatever the case may be, there are a tremendous number of opportunities for you to be able to benefit even in a down period. Just make sure you have a plan and look to capitalize when you get your chance.
