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    This Couple Shared How They Renegotiated Their Rent And It Is So Smart

    Literally going to write an email to my landlord right now.

    If you've been following the Sydney property market recently, you'll know that rental prices have been going down.

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    This is usually framed as a bad thing — you know, because people who actually own houses are losing money on rent.

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    If I owned an investment property, I'm sure that I, too, would be crying into my smashed avo.

    HOWEVER, one very smart couple has seen what most of us could not — that renters now have some leverage to renegotiate our lease agreements.

    NBC

    Paridhi Jain, owner of SkilledSmart, a money school for adults, saw the falling rental market as an opportunity to save some money on her weekly rent.

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    "Most people don't realise that you can actually negotiate your rent. Landlords need good tenants who will take care of the property, and will hopefully stay for a long period of time. So if you've been a really good tenant, and the market is a little damp, then you could try your luck with negotiating your rent."

    Here's how Paridhi and her husband managed to negotiate a $20 reduction in their weekly rent.

    Paridhi Jain / SkilledSmart

    Which I am going to save and refer to in the future.

    If you want to employ the tactics they used to negotiate your own rent, here are a few things you need to do.

    CBC

    First of all, you need to prove that you're a tenant that a landlord wants to keep around long term.

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    Paridhi's email states that she and her husband have been in their home for a few years, have never missed a rental payment and have kept the apartment in pretty good knick — which are all qualities landlords and property managers look for in tenants.

    Next, research similar rental properties in your neighbourhood so you get a better understanding of how much less you could be paying.

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    If you're living in a two bedroom house with one bathroom and a garage spot, search for other properties in the area that have similar offerings. If, on average, they're $20 cheaper per week, that will give you a market-backed figure to negotiate with.

    Finally, state your proposed terms for the renegotiation — making sure to point out what's in it for the landlord.

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    Paridhi's email not only states how much they'd like to reduce the rent by, but guarantees the landlord an additional six months on the lease — because remember, looking for new tenants is often painful for landlords.

    Remember that saving as little as $20 per week in rent will save $1040 over the course of a year, which is money you could be spending on a holiday or car rego — or even a healthy dose of avocado toast every weekend.

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    And if you want more tips for how to save money, check out these 19 clever money hacks.

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