[HKbuddy]

Hi,

Does anyone know what's the usual negotiation rent rate in HK? Is it 30% down meaning if the agent askes the price for 25k, standard to give a return price as $18k? Also, is it normal to request landlord clean the apartment before tenant moving in?

What are some of the techniques would you recommend in terms of rent negotiation? I am not sure how to negotiate with the agent and your opion is greatly appreciated.

[gilleshk]

There's no standard, I've seen flat owners that will hardly budge from their price depending on interest and how quickly they want to rent and the state of the apartment. If it's been newly renovated for example, it's less likely to go down a lot...

On the other hand, I got the flat I'm currently in for about 20% less than the asking price by offering to repaint the apartment myself.

As in any negotiation, you have to be prepared to let the deal go by in order to get the best price. I remember another flat where I let a month go by and when I saw it wasn't rented I went back and again got it for about 20% less than original asking price.

I've also lost flats that I wanted because the landlord wouldn't budge more than a few % below his asking price.

[limepickle]

We got 6% off our rent but the landlord refused to pay for our flat to be cleaned (it is a new flat though). I think the rental market is still quite buoyant so it's not easy to knock them down too much.

Originally Posted by HKbuddy

Hi,

Does anyone know what's the usual negotiation rent rate in HK? Is it 30% down meaning if the agent askes the price for 25k, standard to give a return price as $18k? Also, is it normal to request landlord clean the apartment before tenant moving in?

What are some of the techniques would you recommend in terms of rent negotiation? I am not sure how to negotiate with the agent and your opion is greatly appreciated.

[saphireruby]

We got 5% off our apartment a year ago. There are quite a few Landlords that will take a discount and you should always ask.

[DanielandHayley]

I 'negotiated' to pay around 8% MORE than the asking price in exhange for putting down 1 months deposit instead of the usual 3...there were no agents in involoved()

[shilo507]

One other trick I came across 3 or 4 months ago was the agent at the last minute (just as the contract was about to be signed) claiming he had received a better offer and upping the rental by 10%. Needless to say I walked away and the agent spent the next two days calling me as obviously the better offer did not exist.

Given the problem I had previously in another apartment with a very difficult landlord and the agent doing nothing to attempt to resolve the matter I will now not use agents and prefer to go direct.

Best advice I can give is to not be afraid to negotiate. There are some distressed owners out there at present and you never know when you can get a bargain. Good hunting!

[AndyFitz]

any advice on what statements to use when negotiating rent?

I'm usually a sucker who takes the quoted price to be the honest price.

The agents I have used here do not seem to deliver anything above what I've found on the net.

[Football16]

Originally Posted by AndyFitz

any advice on what statements to use when negotiating rent?

I'm usually a sucker who takes the quoted price to be the honest price.

The agents I have used here do not seem to deliver anything above what I've found on the net.

Although I believe honesty is the best policy I will negotiate something like rent by saying that I am seriously considering a cheaper offer which meets my needs. Or ask for furnishings or something as part of the deal. Only did this once in HK and I think we got a fair deal for both parties. It is not a big lie as you are likely considering a cheaper option - you just haven't got it lined up yet - but that is not their business and you don't have to disclose this or they will use that against you.

As the other poster notes, there are some investors hurting right now and our clue with our landlord was that he accepted our lower price and our furnishing demands IF we rented the place from the very next day and didn't disclose the rent to the other expat tenants he has in the building across from us in the complex that he felt we'd meet in the club house as he had disclosed their approx age, sex, occupations and countries of origin which narrowed down who they are considerably. That told us he had a mortgage payment issue but he was more than willing to furnish the place with new stuff albeit it Ikea type as long as we took it immediately which for us was no big deal as it gave us time to move in without detracting from work.

[gilleshk]

Another thing to keep in mind is that agents receive a commission based on the rental price(half months rent) so they are not working for you but for the owner. Don't expect them to do you any favours though some can be very nice and helpful.

[Claire ex-ax]

Originally Posted by DanielandHayley

I 'negotiated' to pay around 8% MORE than the asking price in exhange for putting down 1 months deposit instead of the usual 3...there were no agents in involoved()

And is the interest/income earned on the two month's deposit greater than the 8% additional rent, over say a year?