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How to Re-Negotiate Your Rent

How to Negotiate Your Rent When Re-Leasing an Apartment

As a renter, it's important to realize that your landlord will probably raise your rent year-to-year due to inflation, rising market value, or higher demand. However, you can always try to negotiate your lease, especially after you've received notice that your landlord plans to raise prices. No need to panic or immediately make plans to move out. There are a lot of factors in your favor to help persuade your landlord. Try out these tips.

Be a trustworthy tenant
If you've paid your rent on time, had no bounced checks, and didn't cause any damage or trouble during your lease, your landlord will probably be more willing to keep you around than take a gamble on a new tenant. Plus, it's an expense for him to repaint, clean, and repair the apartment for a new tenant.

Check out the supply and demand
Chances are if there are several empty apartments in your complex or around your neighborhood, you'll have more authority to veto the rent increase. Look around to see how many apartments are empty in the complex or in your areal. Take note of it, and mention this to your landlord.

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Read on for more tips.

Show them their competition
Many complexes will raise prices to stay competitive with other neighborhood complexes. If you feel your landlord is asking too much, create a list of other apartments with similar prices, square footage, and amenities.

Be friendly and professional
Money can often bring out strong emotions in people. When you decide to approach your landlord, remember to stay calm and breathe no matter what direction the meeting takes. Come prepared with your notes and reasons, and clearly express your reasons why your rent should remain the same. Emphasize your happiness living in the complex and reasons why you are a great tenant.

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