A520.2.3.RB_FogartyShawn

Conflict resolution, my wife and I relocated to Savannah, Georgia last summer from Honduras. The housing market and house rental market in the area was complicated to say the least. Due to the economic recession and bursting of the housing market bubble the majority of home owners and rental property owners were asking much higher prices than the properties were worth in an effort to cover costs of their investments.

My wife and I realized that a rental home would be best suited for our situation as she may be relocating for her next job assignment and I would be deploying again within the next 16-20 months. After a week of house hunting we located two properties we really liked but the costs were more than we we're willing to pay.

The two properties are located in one of the premier neighborhoods of Savannah adjacent to a reputable golf course. Both properties have been listed for sale or rent and have been on the market for over 6 months. The cost of each property was around $2000 dollars per month and had a similar size and layout.

I played the role of the frugal renter, the listing real estate agents were the middle man, and home owners played the role of the home owners. The second property's listing real estate agent was not willing to negotiate or entertain our concerns about the price. The unwillingness to establish a negotiation process allowed us to dismiss them from the equation. The first property's real estate agent, the property my wife preferred, was willing to listen to our offer and concerns and forward them to the property owner for consideration.

My knowledge of the area, housing market and being rental property owner myself aided throughout the negotiation process. I expressed sincere interest in the property but offered to rent at a reduced monthly rate for 12 months, $300 less the advertised price. The owner denied our initial offer, and informed us that the previous tenants had not taken care of the property and several costly maintenance repairs had to be preformed. Reducing the cost would not allow him to recoup and lost revenue.

After learning of the owners concerns, revenue and household maintenance, I made a second offer. I still required a reduction of $300 per month to the rent, but offered to extend the lease term to 18 months providing longevity. Additionally, I offered to complete routine household maintenance but the owner would have to pay for the material costs. I also informed the owner I was a rental property owner myself and knew simple but unexpected maintenance repairs can add up fast. The home owner accepted the second offer made by the frugal renter which addressed the concerns of both parties involved. The frugal renter and his happy wife went on to live happily ever after.