Lower Your Rent

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By chefspecial


Negotiate With Your Landlord

Landlords are in the business of making money. They raise the rent whenever their expenses go up. What is a poor tenant to do when the rent increase exceeds the amount he can afford to pay? Find a new place. You don't have to move to it, but find an apartment or house that is cheaper. When your lease is up, you are free to go. Landlords are betting that you will pay a little extra to stay put. That is the reason that you see so many "move-in" specials. Apartment complexes are willing to take a slight loss for the first couple months to get you hooked on the apartment. Once you've accumulated a lot of stuff in your place, moving it is not appealing and often you are willing to pay an increase in rent. If it has been a year, most likely your income has gone up a little to be able to afford that increase.

Landlords do not want to lose tenants. They will negotiate to keep a reliable renter. If the rent increase is too high, tell your management that you can't afford to stay there. They will most likely counter with a lower rent adjustment that would still make them profit and fit your budget. Remember, the only way landlords make money is if tenants occupy the place. Make sure there isn't a waiting list before you tell them you plan to leave. This can be as simple as calling the leasing office and asking if there is availability. If they have apartments to fill, you are in a better bargaining position.

Find a new apartment. Whether you plan to move or not, do your homework. It could be that the market has gone up and you have the best deal in the neighborhood. That piece of information is key to negotiation. Landlords want to provide competitive rates for housing. If one complex is raising the rent, others will likely follow suit. However, this is not always the case.  Research what the going rate is through mynewplace.com.

It may be that the neighboring complexes have roaches are cheaper because they have problems with rodents. There may be security features or ammenities that your apartment community has that the others don't. Make sure that if you present your landlord with information about comparables in the area, that it is accurate and you understand the pricing.

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