Can you negotiate a rent lease renewal? The complex I’m in raised my rent $150 per month.

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I’m in NYC. They sent a renewal at the same rate and I asked for a reduction. They offered 2 months free on 2 years, and I countered with 2 months free on one year. I also sent them screenshots of places advertising cheaper rents in the neighborhood. Waiting for a response, and looking at other places in the meantime. Your best bet is to research comparable places and figure out what rent you would move for. Then ask for that.

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Rent mostly goes straight to the bottom line. The apartment purchase/construction is a sunk cost, as are property taxes. Now, with rent, the landlord has to just cover additional maintenance and tenant administration expenses like billing.

Guaranteeing 10 months of rent (12 month lease with 2 months free) vs the risk of 0 rent if no full-price tenant is found is a very routine kind of dilemma.

Almost everything in life is negotiable.

likefunny

I knew we would have a lawyer jump in and that's why I qualified by saying Almost."
😀

funny

Yes, you can. The rental market in major urban cores is still slow, so negotiate or leave. Provide examples of comparable or better places for less $$. Remember to account for moving costs if you decide to move.

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For sure, especially in this market is wild that any place is raising rent. What city are you in

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Yep I live in Seattle which currently doesn’t even allow landlords to raise rent, but even with that, there are crazy deals that are being offered like 3 months free

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What is a rent lease renewal

Leases on a rental apartment are usually one or two years. After it expires, you renew the lease.

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