Rent question...

[blueyes]

I just found out that apartments in my complex which are identical to mine are now renting for nearly $300 less than what I'm paying now!! :mad:

I know this is b/c the management is having a difficult time leasing (and has been since shortly after I moved in) - is there ANY way to work this to my advantage come time for the lease renewal? B/c, honestly, if I don't either get a decent raise or work out a deal with the management, I'm going to move b/c the rent is too big a drain on my finances.

[old_school_soul]

I just found out that apartments in my complex which are identical to mine are now renting for nearly $300 less than what I'm paying now!! :mad:

I know this is b/c the management is having a difficult time leasing (and has been since shortly after I moved in) - is there ANY way to work this to my advantage come time for the lease renewal? B/c, honestly, if I don't either get a decent raise or work out a deal with the management, I'm going to move b/c the rent is too big a drain on my finances.

Tell them you are going to leave unless they lower your rent by $200.

[AshleyJordan]

When it's up for renewal, play hardball. I'd ask for $300 off-- they'll haggle and that should get you about $150 off, when all is said and done.
There's a woman who's lived above me, in an apartment that is waaaaaaaaaay worse than mine (I visited,) for about 20 years, and she pays more than me. I got a very good deal when I signed my lease in December of this year because my mgmt. company was having a hard time getting tenants, and I had good credit. It sucks, but it's all timing.

[mishl982]

Are you in a lease? If so, you probably can't have it changed now, but like Ashley said, try and haggle when it's time to renew.

Maybe it's just a short-term special to get new residents? Like they'll jack up the rent to normal rate after 3 months or something?

[EmberMae]

This happened to me once. I basically said I was not renewing my lease unless they lowered the rent to what a new person pays. I told them it would cost them more to get a new resident--having to paint, clean, replace carpets, etc, as well as not having continuous payments, and considering I was a responsible tenant it was in their best interest to give me the same rate as they would give a stranger off the street. It took some hemming and hawing, but they agreed to it.

[winneythepooh7]

This happened to me once. I basically said I was not renewing my lease unless they lowered the rent to what a new person pays. I told them it would cost them more to get a new resident--having to paint, clean, replace carpets, etc, as well as not having continuous payments, and considering I was a responsible tenant it was in their best interest to give me the same rate as they would give a stranger off the street. It took some hemming and hawing, but they agreed to it.


This is a good angle to go.

[redav]

This happened to me once. I basically said I was not renewing my lease unless they lowered the rent to what a new person pays. I told them it would cost them more to get a new resident--having to paint, clean, replace carpets, etc, as well as not having continuous payments, and considering I was a responsible tenant it was in their best interest to give me the same rate as they would give a stranger off the street. It took some hemming and hawing, but they agreed to it.
It's even simpler than that:
- End your lease.
- Sign a new lease.
Then, you are exactly identical to a new tenet--any offers they get, you should, too.

There really isn't much the apt management can do to deny you the lower rate assuming the lease is up.

[analogman]

Negotiate the new rent amount before you renew your lease. They might not lower it to what a new person pays because they figure it costs you something to move so there is some incentive for you to stay as well. All this assumes they still have vacancy issues when your lease is up.

[blueyes]

So I talked to the management office - nothin'. It was sort of amusing, though - another resident was in the office while I was there talking to someone else about how he's moving out...because the rent's too high. The woman I was talking to even commented on how 'a lot of people are saying the rent is rather high here'.

I wanted to say, "THIS is your wake-up call!" :rolleyes:

She was pretty unhelpful, as far as the rent goes, so I'm going to start looking in June for a new apartment. Which sucks, because - ridiculous rent aside - the management is responsive and I'm left to my own devices and my neighbors are tolerable. Oh, well. Their loss.