Lump Sum Upfront Rental Payment

I am fortunate enough to have a decent amount of money set aside in my savings, but not enough yet to afford the downpayment required for the type of co-op/condo I would like to purchase. Since it is pretty rare in the current market to be able to negotiate down rent, does it make sense to offer to pay the owner the first six months or year of rent in exchange for a small reduction in the monthly... [more]

I am fortunate enough to have a decent amount of money set aside in my savings, but not enough yet to afford the downpayment required for the type of co-op/condo I would like to purchase. Since it is pretty rare in the current market to be able to negotiate down rent, does it make sense to offer to pay the owner the first six months or year of rent in exchange for a small reduction in the monthly rent? For example, if the asking monthly rent is $5,000, then I could offer to prepay the first six months of rent, $30,000, upon signing the lease in exchange for a 5% reduction in my monthly rent through the term of the lease. This would be attractive to an owner looking for the cash, and is good return on my money since the $3,000 I save in rent over the course of the year in exchange for the $30,000 prepayment represents a 10% annual return. That's I lot better than I could get if invest the money in a CD or savings account, which is where I would keep it otherwise. Is this a good negotiation strategy or a waste of time? [less]