Author Topic: Negotiating lower rent - possible?  (Read 1790 times)

OmahaSteph

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Negotiating lower rent - possible?
« on: January 12, 2016, 11:55:33 AM »
Sooooo, I have a crappy 3-bedroom apartment for which I'm paying through the nose. I went online and discovered they are now charging $200 LESS per month than what I'm paying for the very same apartment. Same amenities. And I'd wager that mine is in shabbier shape. 

I don't have the gift of negotiation, so I'm wondering, is there anything I can do/say to get them to lower the rent? Am I locked in because of my contract? Are there any specific points I can bring up that would have an effect?

Please and thank you!

(I get sick thinking of the ways I could put that extra $200/month to good use...)

AZDude

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Re: Negotiating lower rent - possible?
« Reply #1 on: January 12, 2016, 11:58:14 AM »
If there is a contract, yeah you are screwed. Negotiate when it ends. You could also negotiate an extension in return for lower per-month rent. Stability can be important for some landlords... (s)he might go for it.

jda1984

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Re: Negotiating lower rent - possible?
« Reply #2 on: January 12, 2016, 02:06:17 PM »
Yeah, you're locked in until your lease is up.  If you have a break lease fee built into the lease (some do, most don't), for $200/mo it might be worth breaking the lease and moving someplace else.  If you place is really as poorly kept as you make it sound, you may have a case that the landlord broke the lease by not maintaining the property fit for the intended use.  Either way you play this (besides waiting the lease out), you don't get/stay in the good graces of your landlord.

ooeei

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Re: Negotiating lower rent - possible?
« Reply #3 on: January 12, 2016, 02:07:50 PM »
Sooooo, I have a crappy 3-bedroom apartment for which I'm paying through the nose. I went online and discovered they are now charging $200 LESS per month than what I'm paying for the very same apartment. Same amenities. And I'd wager that mine is in shabbier shape. 

I don't have the gift of negotiation, so I'm wondering, is there anything I can do/say to get them to lower the rent? Am I locked in because of my contract? Are there any specific points I can bring up that would have an effect?

Please and thank you!

(I get sick thinking of the ways I could put that extra $200/month to good use...)

If you looked online and saw that they were currently charging $200/month MORE than you're paying, would you let them negotiate your rent up even though you're in contract?  I'm sure the landlord could think of ways to use $200 more a month as well.

mskyle

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Re: Negotiating lower rent - possible?
« Reply #4 on: January 12, 2016, 03:55:31 PM »
I guess we're assuming your "contract" is a yearly lease? If you're month-to-month or something, then absolutely you can try to renegotiate.

But the fact of the matter is that the price of an apartment has as much to do with market conditions as it does with the condition of the market, and if, say, midwinter is a difficult time to get the apartment rented, or the bottom has dropped out of the rental market since you signed your lease, the landlord may well be willing to take a lower rent just to get someone in the building.

OmahaSteph

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Re: Negotiating lower rent - possible?
« Reply #5 on: January 13, 2016, 08:01:17 AM »
I guess we're assuming your "contract" is a yearly lease? If you're month-to-month or something, then absolutely you can try to renegotiate.

But the fact of the matter is that the price of an apartment has as much to do with market conditions as it does with the condition of the market, and if, say, midwinter is a difficult time to get the apartment rented, or the bottom has dropped out of the rental market since you signed your lease, the landlord may well be willing to take a lower rent just to get someone in the building.

Yes, this is what I figured. I moved in the middle of summer from across the country (site unseen). And I do plan to be out of there as soon as the lease is up. It's run by a large company, not an individual landlord, so there are probably piles of corporate policy, as well.