Phil Spencer says everyone should be negotiating on their rent

Bartering on price isn't just for home buyers

As a renter, it may never have occurred to you to question the rent that pops up in the corner of the screen on Zoopla. If it is within your rent budget filter you'll take it. But according to Phil Spencer, you should always be negotiating on rent.

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On his podcast Move IQ, Phil Spencer shared his sharing his top tips for renters who have yet to make it onto the property ladder. In one of the latest episodes the podcast, the presenter explained that it isn't just house buyers who should be negotiating on asking prices, but renters should be negotiating on rent, too.

Negotiating on rent

'I think people are aware that you try to negotiate an asking price of a house when you buy it, but actually, it seems that tenants go, "well that's the rent, it's not the asking rent",' explains the Location, Location, Location star.

men with checked blue shirt white wooden roof bunting

(Image credit: Jeff Spicer/PA Archive/PA Images)

'In a competitive marketplace, that is certainly the type of image and feeling that a letting agent will try and give you,' Phil Spencer adds. 'And sometimes it is absolutely like that – that is the rent, do want it? If you don't, the next person will have it.'

However, it is always worth asking if the landlord would be willing to take a little less in rent. 'You want to have a discussion about the price. You want to do your own comparable research. Using the internet to find out what a fair and reasonable price is,' says the Love it or List it presenter.

wooden table chair with white window and laptop

(Image credit: Ti-Media)

If you can't get your landlord to drop the rent, consider negotiating a deal on other parts of the home. Phil Spencer suggests looking around the flat to see if there is anything you can ask for in lieu of paying less for the rent. For example, if you want the wall painted, carpets cleaned or even new storage built in, it doesn't hurt to ask for it.

'You're well within your rights to say: "I like the house, but in order to pay that level of rent can you give it a coat of paint",' suggests Phil Spencer.

room with white curtain fruits and white dishes

(Image credit: Future PLC /Brett Charles)

So before you get swept up in the excitment of finding a dreamy home to rent, and a rate you are happy to pay, take a minute and consider if you could negotiate a lower rent or change of wall colour.

Related: Phil Spencer reveals his top tip for snapping up the best rental properties

Remember, you don't get if you don't ask.

Rebecca Knight
Deputy Editor, Digital

Rebecca Knight has been the Deputy Editor on the Ideal Home Website since 2022. She graduated with a Masters degree in magazine journalism from City, University of London in 2018, before starting her journalism career as a staff writer on women's weekly magazines. She fell into the world of homes and interiors after joining the Ideal Home website team in 2019 as a Digital Writer. In 2020 she moved into position of Homes News Editor working across Homes & Gardens, LivingEtc, Real Homes, Gardeningetc and Ideal Home covering everything from the latest viral cleaning hack to the next big interior trend.