When your lease ends and you want to renew it, you have to be ready
for the possibility that you might be paying a higher rate this time around.
The good news is that you don’t have to feel forced to get used to this fact.
Because your landlord opened up the idea of you renewing your lease, you can
say that he thinks you’re a great tenant. If this is so, he might be open for a
negotiation, but you shouldn’t go into it unprepared or he might shoot down your
proposal right away. It takes a well-crafted proposal to get a great response,
and you can use these guidelines to help you make your argument work.
1.
Research on the current rental market –
Don’t talk to your landlord about what you want until you have substantial
information about the rental market to present to him. Search your area for
other apartments for rent, inquire
about rates and the amenities included and show all the data to the landlord.
Avoid making your proposal sound like a threat (“If you don’t agree, can live
somewhere else”); just have him know that these apartments offer more
comfortable rates for your current financial situation, but that you’d like to
know if he is willing to make a better leasing deal with you.
2.
Emphasize your great rent payment record
– Landlords need to pay the rental’s mortgage and other expenses on time, so
they like it when tenants make a habit of never handing their rent money late.
If paying on time and never having a bounced check is something you can claim, then
by all means, let the landlord know about it. Have him understand that you can
easily keep up this habit if he will give you a discount on your rent. If
there’s no talking to him about the rent, find out if he will be amenable to
reducing or eliminating your other costs, such as parking.
3.
Stress your maintenance history – While
the landlord is responsible of maintaining the apartment, they are really
grateful to tenants when they’re not called over for the smallest issues. But
what they’re even more pleased about is if you summon them to repair a
particularly sizeable damage so it won’t get worse. If this had been the way
you treated maintenance and repair issues in your rental, make sure he
remembers it. The landlord may agree to postpone (or at least lower) the rent
increase if you promise to look after the rental well because it will mean less
money and effort spend from their end.
4.
Offer to stay for longer than
his proposed term – Look at your living situation (the neighborhood, the apartment complex, the neighbors,
etc.). Do you see yourself living there for a long time? If your answer is
“yes”, then take advantage of lease structures; if the landlord’s renewal offer
is only for six months, tell him you‘re willing to sign a lease for one year as
long as the rent stays the same.
Rent almost always increases when a tenant’s term comes to an end,
you shouldn’t assume that this rule is set in stone. Using these tips, you
might be able to craft a great argument for not getting a rent increase without
damaging the relationship you and your landlord have.
