You will have to present your case, which means you’ll need to do some research.
I received my lease renewal in the mail just a few days ago. It came with a modest but significant increase. The average rent in the United States rose 14% over last year. financial predictions have been warning for months about additional increases during the first half 2023. Rent increases are a pain, but they’re a part of renting.
Is it true? It’s not always possible to avoid an increase in rent, but there are ways to minimize it. Here are some tips on how to negotiate a lower rent increase before you sign a new lease.
Your landlord is a real person
You may only need to ask. When I told my landlord that I could not afford to pay the rent increase, he responded by emailing me back. You may not see your landlord very often, but even if rent is automatically deducted from your bank account each month, you can still appeal to the better nature of your landlord.
experts at Trulia say that you can negotiate with your landlord directly, up to a certain point. But you need to know how and what to negotiate. If the rent increase is not egregious, it’s more expensive for the landlord to find another tenant. The landlord doesn’t care much about you, but he does care that you don’t leave. They will lose rent, and incur other costs such as cleaning or painting your unit and paying for a realty broker to find you a new tenant. DoNote in your first email that the rent increase could impact your ability stay in the apartment and that you would like to start a negotiation.
Provide evidence that you are a good landlord
You should prepare to meet with your landlord by preparing evidence that shows you have paid rent on time. This is similar to preparing for a meeting where you would gather proof to show your superior employee status. If you haven’t been a major hassle to your landlord, such as causing damage to the apartment that was your fault or receiving a lot of complaints about noise, you should make sure to show how easy it has been to work with you.
You can also show proof of timely payments and any other evidence that you’re a model renter, such as proof that you reported a problem in your apartment promptly to prevent further damage. Trulia says that presenting documentation to prove your trustworthiness shows them you are “committed” and not just a random tenant.
Another option is to agree to a longer rental agreement on condition that the rent does not increase. Longer leases are popular with landlords, as they prevent the costly and time-consuming search for a new renter for several months. Both parties want a stable income and dependable housing. You can both benefit from this deal, as long as you are willing to stay in the area for at least two to three years. Trulia suggests that you pay more upfront if possible, as this is another way to demonstrate your reliability. If you are unable to do so, you have other options.
Compare comparable rents
Does the rent that you’re being asked to pay compare to the other units around? Visit a rental website and search for all nearby units. Make a list with the most similar units to yours in terms of size, location and amenities. Then, create a spreadsheet that includes their prices. This information should only be given to your landlord if the rent increase you are proposing will significantly put you out of line with other apartments in your area. You’re more likely to get a negative reaction if you accuse them of overcharging. So only do this if you are truly out of line with your local average.
Do not forget to talk with your neighbours. It’s a sensitive topic, especially if your neighbors and you aren’t close, but it’s important to get along with them in order to achieve a fair rate. Brick Underground, an organization that helps consumers make informed real estate decisions, recommends asking your neighbors about their lease renewal processes in order to gain a better understanding of the negotiation style and the accommodations and exceptions the landlord is willing to offer. Ask your neighbor if they have a similar sized apartment. If the vibe is right, you can ask them what they pay. You may even find that they are paying more than you. This will help you themnegotiate with future landlords.
Be nice
Avoid being rude or aggressive towards your landlord. If possible, try to negotiate with your landlord in person. Maintain a calm demeanor. You might not be seen as someone wants to keep in the unit if you behave badly. You can have an honest conversation with them if you approach them directly but in a level-headed way. Prepare all the documentation and decide in advance if you are willing to accept a lower increase or sign a longer lease.
You can make a strong case if you have proof of your good character and rents in the area. But you should start your search well before the lease expires so that you will have enough time to negotiate and find another apartment, if necessary.
