Negotiating Rent? ...Help!

[lys]

THe management/ownership changed during your lease period. The new rates are higher and most likely began for all new renters at the time of the change -- you enjoyed a "reduced" rate (your lease rate) until the lease expired. Your new lease will be at the higher rate.

Can you negotiate? Depends on the housing demands of your area - and specifically the demand for your apartment complex. If there are many others looking to live there , the chances are poor. In my area, you would have little to no chance -
They will want to know WHY they should give you a better rate than the other renters will receive - so you need a good answer for how this benefits THEM to have you as a tenant who pays less.
How do the new rates compare to the going rates locally?

[v]

Totally depends on what's reasonable in your area. Do you know how much rents have gone up generally in your area in the last year? Are there any comparable homes that you can look into that would give you a sense of how much a place like yours goes for this year?

[msmerymac]

To clarify, you are now on a month-to-month lease? By "last May" you mean May 2013? I find it odd that you've gone through 2 rent increases in 2 years, and not every 12 months to boot, so I'd look into local laws about the percentage that rent can increase (in my old city it was tied to inflation, so usually 2-3% per year), and if management can increase rent when a previous lease is already in place.

The fact that a new management company came in and raised your rent while you were still under an old lease seems odd, at best, but I've rented in some really renter-friendly areas, so I could be wrong.

[ohyouknow]

First, if it's a form letter that says you'll be paying the same rate, why are you responding at all? Am I understanding correctly that you want to pay LESS than your current rate? i.e. "How low should I go, percentage wise, compared to what I'm currently paying?" and you alsoyou state there is no change in rent.

If they are keeping your same rent, I would let it go and keep paying the same rate. I don't think you'll have any luck reducing your rent, IMO.

[msmerymac]

If it's going month-to-month, but you're willing to sign an 18 month lease at a reduced rate, then yeah, I think it's worth the effort. Just to guarantee they won't have a vacancy to fill - reducing your rent by $50-$60 (maybe more, depending on what you pay) would likely be better than leaving your apartment vacant for a month next spring, with only 30 days of notice.

[scout8]

If they didn't raise your rent, I would probably leave it alone. Are the current vacant units in your complex going for less? If that is the case, then I would point that out and see if you can get a reduction. If they aren't any cheaper, then I doubt you will get very far with getting them to reduce.

[v]

When the rental market crashed here in 2009, people were definitely negotiating lower rent.  I wouldn't try that in a good market because it will go nowhere.

We always try to negotiate our annual rent increases down. This is the first year that we had no luck on that (granted, in the past we didn't do all that well either -- it's been along the lines of 10% reduction in the increase).

I can't find our old rent negotiation emails, but here's one that my friend has sent (we used it for inspiration)

Dear [name],

I live in Apartment [#] of [buidling], and I just received my lease renewal notice. My rent has gone up an additional $[  ] this year. When I add this to the $[   ] increase I had last year, my rent has gone up $[   ] in just two years. This is higher than what I understand to be the average rental increase for Manhattan, so I am writing to see if there is any chance of reducing the increase this year to $[way lower number].

Thank you very much for your consideration of this request.

They met her higher than half way, but she got something like $100 taken off the increase.

We usually also throw in that we've been long-term good tenants, and that if we moved out they'd have to have the apartment sit vacant for about a month and perform renovations... not sure if that applies in your situation.