How to Negotiate with Your Landlord to Lower Your Rent

Improve your life through negotiation.

Now that the economy has changed, everything is negotiable - including your rent - and renters have the upper hand. Your landlord does not want to lose you! If you are a good-paying tenant, and you make a good case, you may be able to reduce the amount you pay for rent.

Things You'll Need

• Have your facts at hand
• Telephone
• Patience
• Persistence

Instructions

1. First, do your research. Check the rentals nearby, and see what their rates are. Are the other rentals cheaper? Do the other complexes have freebies for new leases (free month's rent, free internet, whatever)? Do they offer better amenities (pool, clubhouse, etc.)? Get all the facts at your fingertips before you call your landlord.

2. Call your landlord. Make sure you are speaking to someone who has the authority to negotiate. It is fine to ask that directly. You want to speak with the rental manager, or property manager, not with an assistant.

3. Then, explain that you've always been a good tenant, always paid your rent on time, but times are tough and now you are struggling. You like the apartment, and you'd like to stay, but you hope your landlord could reduce your rent so that you can better afford the apartment. Otherwise, you may have to move (hint, don't threaten). Be calm, polite, persistent.

4. If your landlord says no, then, bring out your facts. But, complex ABC has these rates; complex XYZ has these amenities. Do you think you could match that.

5. If your landlord says yes, have the rent in mind that you would like to pay. The landlord may ask you what you can afford, or may make an offer to you. From the research you did in step 1, you should have a good idea of what you can get at a different apartment, so you will be able to tell if you are being offered a good deal.

6. Then, make your decision! Hopefully, you will now be saving some money every month.

Tips & Warnings

• If you decide to move, keep in mind moving expenses - the costs you incur moving will offset a cheaper rental rate.

Resources

• Dear Penny Pinching Mom
• Dear Pinchy Tip of the Day: Lower Your Rent!
• How to Beat the Recession! Ten Tips for Saving Money in Your Social Life
• Pay Down Credit Card Debt