Do apartment rental's bargain monthly rent ?

[mahi2020]

Hi,

If I am renting an apartment, do they negotiate on monthly rent ?

i.e they are quoting : 1480CAD

is it possible to reduce it by 100CAD i.e. 1380CAD ?

 

[steaky]

In markets where there is limited supply and huge demand such as Vancouver area and Greater Toronto area, landlords in general will not agree to lower than asking price.

In case there are multiple offers, you might have to bid higher.

 

[scylla]

Hi,

If I am renting an apartment, do they negotiate on monthly rent ?

i.e they are quoting : 1480CAD

is it possible to reduce it by 100CAD i.e. 1380CAD ?

Not in Toronto. In Toronto you would offer more.

 

[Mohtasim]

In general not, but in case of increasing rent yearly, you can contact city department for reducing the increase in rent. But when renting a new apartment, landlord is the master. as if you do not take someone else will take in high price.

 

[canuck78]

In general not, but in case of increasing rent yearly, you can contact city department for reducing the increase in rent. But when renting a new apartment, landlord is the master. as if you do not take someone else will take in high price.

Just want to clarify that there is a yearly stated increase in rent allowed in each province when living in the same place for over a year. Your landlords is not allowed to go over that without special permission.

As specified before you are unlikely to be able to bargain in areas where there is more demand than supply of rental places. There may be flexibility in some circumstances to barter a bit like shovelling snow, yard work, etc for a small reduction in rent. If in a higher end market or for full homes you may get a slight decrease if you are willing to sign a multi-year lease.

 

[NetMecca]

Unlikely.

 

[steaky]

In general not, but in case of increasing rent yearly, you can contact city department for reducing the increase in rent. But when renting a new apartment, landlord is the master. as if you do not take someone else will take in high price.

That's a provincial matter; not the city's.

 

[Mohtasim]

That's a provincial matter; not the city's.

Yeah... Provincial that is Ontario in Toronto .... for 2019 it states 1.8% increase

 

[YVR123]

Not sure where OP is trying to rent.
In any big cities with high demand for rental, the offers will only be higher than asking. Not "discounted".

 

[jomz]

Just want to clarify that there is a yearly stated increase in rent allowed in each province when living in the same place for over a year. Your landlords is not allowed to go over that without special permission.

As specified before you are unlikely to be able to bargain in areas where there is more demand than supply of rental places. There may be flexibility in some circumstances to barter a bit like shovelling snow, yard work, etc for a small reduction in rent. If in a higher end market or for full homes you may get a slight decrease if you are willing to sign a multi-year lease.

With the exception of Alberta (cant speak for other provinces). In Alberta once the fixed lease term ends the landlord can increase rent for the same tenant as much as it wants. It’s not regulated. A few years ago I have seen rent increases in Calgary of more than 100% for a continuing tenant.

 

[Copingwithlife]

With the exception of Alberta (cant speak for other provinces). In Alberta once the fixed lease term ends the landlord can increase rent for the same tenant as much as it wants. It’s not regulated. A few years ago I have seen rent increases in Calgary of more than 100% for a continuing tenant.

That would be because it was # 1 a unregulated market place , # 2, the demand for rental units was greater than the supply . You know , supply & demand . I’m thinking of moving to Alberta and just by browsing the rental market in Calgary they now offer incentives to lock in long term tenants . There you might be able to offer a reduced rental amount, in GTA, more than likely not

 

[jomz]

That would be because it was # 1 a unregulated market place , # 2, the demand for rental units was greater than the supply . You know , supply & demand . I’m thinking of moving to Alberta and just by browsing the rental market in Calgary they now offer incentives to lock in long term tenants . There you might be able to offer a reduced rental amount, in GTA, more than likely not

Was responding to canuks comment which incorrectly stated that each province regulates increases. Oh I’m quite aware of what the market is like), rents have come down in some places (not all neighborhoods though).

 

[canuck78]

Was responding to canuks comment which incorrectly stated that each province regulates increases. Oh I’m quite aware of what the market is like), rents have come down in some places (not all neighborhoods though).

So every province except Alberta has an allowable increase in the rent if you remain in the same apartment.