- Assess your situation
Take into careful consideration the offer you are receiving and the current state of the market. How likely are you to get a better offer? How much time has your property spent on the market? Is it a competitive market? Is the offer at fair market value? These are all important questions to ask to gauge how much bargaining power you may (or may not) have.
- Be confident and courteous
Remember, this may be your future tenant! You want to start off the relationship on a good note and they will most likely be more open to negotiations if you build a good relationship right off the bat. Don't be afraid to tell the renter a bit more about yourself and what kind of landlord you will be.
This one may seem obvious, but it's worth saying. Work with the renter to see from their point of view and make fair concessions. Try to be flexible and accommodate when you can for the renter, for example if they would prefer an earlier move-in date or longer length of tenancy. The more appealing and easier the tenancy will be for them, the more likely they are to accept an offer.
Don't be afraid to let the renter see from your point of view either and understand your reasoning behind the offer. The more of an understanding both parties come to, the quicker you can both come to an agreement.
- Be patient
Don't be afraid to walk away from an offer and not accept the first offer that comes your way. If you are confident in your listing, more offers will come.