Everywhere we look, news everywhere is flooding with information regarding the recession we are in. People are continually talking and discussing how the recession as impacted our economy and individuals within it. Many have lost jobs, housing prices have tanked and many have lots thousands in declining stocks.
I do not wish to argue the fact that many have been faced with very difficult circumstances. I would like to, however, look on the brighter-side of thing.
The economy has impacted almost every industry, including the multifamily industry. This means property managers are competing more for your business by lowering prices and offering more. Property managers are trying to avoid losing additional money by having you fill their vacancies.
Now, more than ever, properties are needing to fill vacancies, which means residents have the ability to negotiate. When looking for the lowest price, use the internet to quickly compare. Internet Listing Services (ILS) post apartments, allowing you to access thousands instantly.
While researching, always track the basic information (price, square footage, number of bedrooms, etc.) along with amenities. This will help you accurately compare apartment communities. Also, when doing walk-through, take detailed notes to help you remember the pros and cons of each apartment you see.
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Also, as you’re researching different apartments, look at apartments that are slightly more expensive. Although it may seem a strange suggestion, you’ll be surprised what you can make work. Look for differences between the slightly more expensive apartments and compare with apartments more within your budget.
If there aren’t any large differences, talk with the leasing agent of the more expensive apartment community. Tactfully bring up similarities of neighboring communities, while letting them know your situation and need for a lower cost. Often, agents will discuss and negotiate to meet your needs.
During the negotiating process, keep in mind that property managers want stable residents. Talk with them about your desire to rent for a few years and not just a few months (but only if that is really the case). Remember, always be honest, and for now, enjoy one of the few benefits of the recession.
About the author: Henery Drake is available to help you if you are looking at Lowell MA Apartments. If Massachusetts is where you are moving, check out the lowell apartments, it may be the last place you have to look.