5 Tips to Avoid Rent Increase

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Landlords always try to increase the price. As rising costs of owning a building or an apartment increase, they have to balance the need to raise rent and still keep the apartment rented. Here are some tips to avoid rental increase:

1. Multi-year Lease

Some tenants prefer to stay for more than 1 year, so If you want to stay in that apartment for a couple of years, negotiate with your landlord a multi-year Lease. A lease for more than 1 year, you and your landlord can agree on a price you know you are comfortable with, and you won’t have to negotiate again after 12 months.

2. Research the market

If your landlord tries to raise your rent, do some research to find out what’s going on in your neighborhood and your building. If prices in your building or neighborhood are not in line with yours, kindly let your landlord know. Most chances your landlord will think again before he raises rent.

3. Know your rights

Laws vary from country to country, so if you relocated, make sure you know what your landlord is legally allowed and not allowed to do. Find out what are the laws about increasing rent and by how much it can be increased.

4. Offer your skills

If there are things you can do to reduce the landlord’s costs, your landlord will see you as a valuable tenant. Offer to make small improvements to your apartment, such as painting or fixing things around the house. It saves the landlord from trying to find someone else to do those things and pay him.

5. Be a good tenant

The majority of landlords always look for good tenants that will make their lives hassle free. That’s why they don’t want to lose a good renter. As a good tenant, its more likely your landlord will avoid increasing your rent. Make sure you pay your rent on time, avoid from requesting unreasonable changes to your apartment, and be nice. This will make you an attractive tenant.

Rent increases are a normal part of the rental market. Some landlords will raise the rent a little bit every year and some will choose to avoid a rent increase if they know they have good renters.

MLS Acobir, is the most preferred property list in Panama. Please contact us for all of your Panama Relocation and real estate needs.



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