Rent reduced for new tenants-should we ask for reduction?
We live in a 2-bedroom/2-bath apartment which costs $655 per month (water and electricity not included). For me, coming from California, this is a great bargain. I moved in a year ago, and my fiance has been renting this apartment since August 2003.
After looking around the area, we seem to be living in a renter's market. Great deals abound, but we'd prefer not to move as my fiance is a graduate student and is very busy. I have learned that new tenants in our complex are being offered 2-bedroom apartments for only $540 per month--more than $100 less than what we're paying, and we've been here awhile! $525-$600 seems to be the average going rent for comparable units in the area.
Would it be appropriate to ask the management for a rent reduction? Would any of you do this? I've never seen anything like this before; seniority usually means you pay less rent than newcomers.
Thanks for any comments/advice.