How to Renegotiate a Lease
Although not thought of as something open to negotiation, you can renegotiate tenant leases if you approach the landlord with the proper information. With a little planning, you can successfully renegotiate your lease. Here are steps to follow to accomplish your goal of saving some money.
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Instructions
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Determine the cost of comparable space in the neighborhood. Make sure you are comparing apples to apples; requesting a reduction in rent because a 1 bedroom, 1 bath is going for less than your 3 bedroom, 2 bath apartment is not a good negotiation technique.
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Commit to a long-term lease. Landlords do not like spending the time nor expense of advertising for new tenants. If you are willing to commit to a long-term lease, your landlord may be willing to shave a few dollars off of the rent for the added stability, provided you have a proven track record of reliability.
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Examine your utility bills. If your landlord originally swayed you to rent the apartment by underestimating the utility costs, you may have something to renegotiate.
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Provide your landlord with a list of the substantial improvements you've made to the property. Installing new carpet, painting and installing new closet doors may warrant rent abatement.
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Keep an open mind. If your landlord suggests that you cut the grass in order to the lower monthly rent in your lease, consider it.
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Tips & Warnings
If your landlord did not give you prior approval to make some of the home improvements, it might backfire on you.
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Comments
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Heather Lamborn
Jan 15, 2010
As a landlady I don't want my tenants to make "improvements" to the property. I want to do all my painting and carpet replacement because work done by tenants is usually unsatisfactory because of poor workmanship, wrong color choices, etc. Tenant work usually means more work for me when they move. Heather
