Apartment lease

[ludawg23]

So, I was leaving my apartment building this morning and saw that the management company has put up a "for rent" sign on the door. It's a similar apartment to the one I currently live in, a one bedroom apartment right outside of Manhattan.

I decided to call them up and pretend to be interested in it and asked them how much the rent was. Come to find out, it's a whole $350 per month cheaper than what I'm paying now.

Has anyone ever negotiated a lower rent? My gf and I have been at this place for 2 years now and our lease ends in 2 months. We've always paid in full, on time and have been great tenants throughout our stay. What's the best way to go about this?

[mikejet]

The best way would be to tell them straight out what you were offered and that you would leave at the end of your lease if they didn't match it. Are you close to the end of your current lease?

[ludawg23]

Originally Posted by mikejet

The best way would be to tell them straight out what you were offered and that you would leave at the end of your lease if they didn't match it. Are you close to the end of your current lease?

2 months.

I'm hoping they will. I asked a few friends and they told me the landlord would rather negotiate with good tenants rather than spend the money to re-rent the apartment. Hopefully that's accurate.

It would be awesome if we could knock our rent down by $200-250

[mikejet]

I would wait then before trying to negotiate. Do it when there's 1 month left. Are you willing to sign for longer than 1 year?

For my wife and I we were able to secure no increase and as a bonus we have the ability to break the lease at any time. This year though we might upgrade to a two bedroom(trying to have kids) so we will see what happens.

Being in good standing with the complex and at least being courteous to the landlords helps too. Everyone in the office at our complex knows both of us pretty well.

[Teabaggins]

dudes, how hilarious would it be if OP contacted them about the rent reduction and they replied, "uh, we had to ask for a lower rent because of you...your surround sound is killer"

[ludawg23]

Originally Posted by teabaggins

dudes, how hilarious would it be if op contacted them about the rent reduction and they replied, "uh, we had to ask for a lower rent because of you...your surround sound is killer"

lol

[Lord_Stewie]

I have a feeling the only reason that Apt. is cheaper is because of the economy and the current housing market. I am sure the landlord is struggling to find someone at a higher rental fee. Like Mike said to you earlier it will be a good idea to meet the landlord and negotiate a monthly fee cut, that would add more pressure into the situation against the landlord and he/she may end up giving you what you want.

[Steve]

My wife and I have negotiated lower apartment rent in the past. It does help a lot if you're a good tenant.

[ludawg23]

Originally Posted by fireman325

My wife and I have negotiated lower apartment rent in the past. It does help a lot if you're a good tenant.

awesome, may I ask how you guys went about this?

[Teabaggins]

contact them and say:

1) I am a good tenant, I have been here for blank amount of time, pay on time, don't murder kittens, etc
2) my lease is almost up
3) I have found similar property for less money in equal or better neighborhood, or a place more convenient to your work
4) I like where I live and if you can match it I will stay
5) if they give you some BS, then bring up the point that you noticed they are offering a similar place for less in the same complex and "wtf is up with that? when you lower the price for the newb renters you will attract a lower level of tenants etc"

[Psychonaut]

I used to negotiate my rent. Although I never got them to lower it, it stayed the same and usually I got the first two months free.

[mikejet]

Originally Posted by Psychonaut

I used to negotiate my rent. Although I never got them to lower it, it stayed the same and usually I got the first two months free.

That's technically lowering is because you can spread the savings from the two free months equally across the 12 payments and think of it as a reduction.

[Steve]

Originally Posted by ludawg23

awesome, may I ask how you guys went about this?

You need to be polite about it, but basically the steps teabaggins listed are pretty much dead on.

[torres546]

Originally Posted by Teabaggins

contact them and say:

1) I am a good tenant, I have been here for blank amount of time, pay on time, don't murder kittens, etc
2) my lease is almost up
3) I have found similar property for less money in equal or better neighborhood, or a place more convenient to your work
4) I like where I live and if you can match it I will stay
5) if they give you some BS, then bring up the point that you noticed they are offering a similar place for less in the same complex and "wtf is up with that? when you lower the price for the newb renters you will attract a lower level of tenants etc"

Defientley emphasize the no murder kitten part. Landlords love a clean and no smell apartment from their tenants; not so much from themselves.

[Beta Man]

I'd do it sooner than later...... tell them you'd consider moving to their "other" apartment (if it really is similar) or you'll look to see how rent is in other buildings around the area..... if they think they'll lose you all-together, they'll be more likely to negotiate.....

Whatever you do, don't push them though.... just subtle hints at it..... you don't want them to not-renew your lease.

[mikejet]

Originally Posted by torres546

Defientley emphasize the no murder kitten part. Landlords love a clean and no smell apartment from their tenants; not so much from themselves.

In fact, when you go to talk to the landlord bring a kitten with you!