ALONG WITH THE LANDLORD
I’ve seen many tenants make this mistake, thinking that their landlord likes them and will give them a good deal. They think that because they were a great tenant for a long period of time with no complaints who paid on time, they will get rewarded for that. This is far from the truth. None of that means your landlord will give you a good deal or do you any favors. Landlords are business people first. You are part of their investment. Chances are you aren’t their first tenant and you may not be their only one. The good ones are savvy, especially in tenant relations. They may like you as a tenant, but they won’t let it interact with their business and what’s best for their investment. Don’t think you are special because you were a good tenant. If you are friends with the landlord, don’t expect any favors either. They cannot make money off their investment by cutting their friends slack.
DON'T BLINDLY TAKE THE RENE AKE THE RENEWAL CLAUSE IN YOUR LEASE
Chances are there is a renewal clause in the original lease you signed. Many tenants will blindly just accept it once the time comes, locking them in for a few more years. While in some cases that can work and be a good deal, that’s not always the case. Negotiating this clause into your original lease is one thing, but the market changes rapidly and possibly will look a lot different when it comes time to renew. Tenants can pay over the top prices with this clause. They often accept this without realizing that the price has risen above market
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