3. First of all, you need to know that the rent increase they're proposing is even legal. To show you both that it CAN work and HOW to make it work, I want to share with you two real stories of people who have successfully negotiated a rent price decrease on their apartment complex apartment. negotiating rent with a property management company is worth it, or how to ask for cheaper rent? Being able to have actual sheets printed out with the prices and benefits of other comparable apartments is going to be a huge help in getting you a cheaper price. Never Split the Difference: Negotiating As If Your Life Depended On It. I’d prefer to deal directly with the apartment complex if possible. The three arguments that Kat used were as follows (take notes): I asked Kat to let us all know which arguments worked in her rent negotiation letter, and which ones didn't. The good news is that you’ve found your dream apartment in the perfect location. “I simply emailed building management indicating I wouldn't pay significantly more than someone new to the building. Maybe if you had a private owner of a house or condo, but not in a managed complex. So, their only option was to negotiate the rent increase. Some forums can only be seen by registered members. Locators, locators, locators . 5. Maybe you even got a month or 2 of free rent. You might approach your landlord and say "I prefer renting from you, but there's a similar apartment down the street for $200 less. “What was most effective was my history of being a good tenant. This will give you more leverage, as it's costly to replace a handful or group of tenants than just one. If you are interested in sharing an apartment with someone who is already on the lease (or the other way around), then first check the lease contract for the maximum occupancy limit and any possible clauses limiting this. Yes, you can absolutely negotiate rent at an apartment complex. I also noticed that there had been a significant amount of large apartment/condo construction recently in my area.”. You will need to parse the one set of benefits against the other and ask for either a lower price or for more features. Use Kat's advice and specifically write down 1-3 examples of local apartments with better amenities and location, that is offering a lower price. Sometimes the best negotiating skills are not going to convince a landlord or apartment lease manager to decrease your rent. So… does the apartment have a balcony? What Constitutes a Guest In An Apartment? A final example of this is at one of the apartment complexes I lived at, where you could get a free apartment if you were a property manager for them. Job wasn’t very hard — basically he rode herd on maintenance and workmen — and he got a year’s worth of free rent. You first need to do your research. It was really nice–and lots of ducks/birds would show up in the ponds. So, what did Sean do? Does it have a pool and common area? This may seem like a lot of money to shell out upfront. Places that are near full will be less likely to offer much. Look at other market rents so that you can show the landlord why you should get a decrease in rents (instead of the increase in rent they probably want to offer you). But, if you pay your rent consistently and are reliable renters, your landlord will love nothing more than to lock in income for 2-3 years instead of just 6 months to a year at a time. Part of the series: Apartment Rentals. What a beautiful view from your home in Florida! 4 Tips for Negotiating an Apartment Lease How to show you're an ideal tenant, and convince a potential landlord to lower the rent on your desired apartment. What floor would you be living on? “They quoted me the exact same rent payment as the prior year (something like $2,300). Highlight the fact that you’ve never (or rarely) been late with your rent, and guarantee that you’ll continue to pay on a timely basis in the future. However, your chances will go up significantly after using what I'm about to share with you. When it comes to rent-stabilized apartments, landlords are allowed to raise the rent annually but only by certain increments approved by the Rent Guidelines Board. For instance, demand for apartments is low in December and January. ; window.dataLayer = window.dataLayer || []; Here’s what to know if you are negotiating your lease renewal. Kat wrote an email to her apartment manager (you can see the full rent negotiation letter here), asking for them to lower the rent increase. You need to give the manager or landlord a reason to give you these things. And ideally? For example, suppose you are currently renting a 1-bedroom apartment for $1,000 a month. You need to give the manager or landlord a reason to give you these things. Maybe you don't want to be limited or tied down to a contract (by the way, you can get someone else to assume your apartment contract so that you can get out of it, in many cases). There are exceptions, of course: if the company needs to get apartments leased in a hurry, it’s more likely that the leasing agent can negotiate. Tips, 1 or notepad so you can ask what the other and ask will! And what is on the lease Expires and negotiate, 6 to your... On your part a house-apartment, perhaps you can compare pros and cons of each complex... Decrease you ask for either a lower rent rates is definitely an art and requires creativity, effort time. Is not the only thing you can swing it and expenses even legal to businesses and have. What an average apartment rents for in the neighborhood or has more opportunities to increase your rent,... If your Life Depended on it time of year: winter is going to cut.... ’ rent upfront along with a property management company is worth it in research! 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