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Tips on negotiating lower rent?

Posted by spoatyoaty (My Page) on
Sun, Jul 3, 05 at 13:28

My lease will be ending on July 31st, and I would like to negotiate a lower rent. A little background info, I am paying $548 for my one bedroom, and looking on, I see similiar rentals down the street going for 450-510. I live in a huge apartment complex, with at least 50 buildings. I'm not sure, but I think there is a high vacancy rate. My building has 12 units, of which only two are occupied, one being myself, and the other being my upstairs neighbor who is moving at the end of the month. I think there might be some leverage there, as me and that same neighbor moved in on the same day on August 1st 2004. During the past year, we only had had one extra neighbor who lived there a little over a month before she was evicted. I learned her rental rate was $424. To tell the truth, I would be perfectly happy paying around $500. Besides the fact I wish I had more neighbors who would make some noise:-) I'm content with my my apartment. I would like to stay on here as a resident for another year while I save for a house, but I am not above calling their bluff if they cant work with me as I've been a very good tenant. I plan on going to the leasing office on Tuesday to speak with them. Can anyone provide any tips or advice? Thanks in advance!

Follow-Up Postings:

RE: Tips on negotiating lower rent?

I say, call their bluff. Go look at other apartments, and pick one you like, one you'd genuinely be willing to move to if you had to. Get the lease to take home and think over, if you can, so you can show your landlord you're not joking, or if not, get an ad that tells the rent, as well as features.

Then call the landlord and say, "My lease is up in a month or two, and I'm thinking of signing a lease on another apartment in the area, because the rent I'd pay for the same or similar space is $xxx. But moving is a pain, of course, and I've been happy here. I'm wondering if you can match their rent. I'd really rather not move, but that's a big difference in rent."

RE: Tips on negotiating lower rent?

Most people don't think about the cost of moving. Will it equal to the rent increase or be more? With high vacancy, you should be able to deal, unless of course the manager quotes "fair housing"...then you're sunk. Do for one, they must do for all.

RE: Tips on negotiating lower rent?

okay. you seem to be at an advantage. So go down well before your lease is up and talk about extending your lease.
see what they say when you say "i'm paying too much.

the earlier the better.

RE: Tips on negotiating lower rent?

I just wrote a letter once saying I had been a good tenant, paid the rent on time, had no court costs, etc., etc. The manager's assistant suggested I do it, but said "don't tell them I told you to do this." I went in to her saying I can't afford what you want me to pay (which wasn't really true) without showing a lease for another place. Anyway, it worked and I ended up paying $710 a month, which was a $5 increase over my previous monthly rate and $15 less than what they were asking.

I'm thinking of doing it again, even though I've gotten a big raise since then. I know they have a lot of vacancies now, plus it pisses me off how new tenants get the rent breaks, trash the place, then move out in the middle of the night.

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