In today's recessed economy, many people find themselves unable to pay their bills. Paying the rent can be a challenge. Negotiating a rent decrease may be your next step.
Considering a discussion with your landlord about a rental payment decrease can be intimidating. Knowing how to approach your landlord to begin a dialogue is key.
Landlords and management companies always know it is better to lower the rent of an old tenant rather than to spend more money on tenant screening. You might also find it much more useful, practical and safe to negotiate a smaller rent rather than starting to look for other rentals you cannot probably afford given the circumstances.
Especially in times of recession, landlords tend to get more flexible and more willing to come to an agreement with their tenants in terms of lower rents. So don't be afraid, as a tenant, to ask your management company for a renegotiation of your rent.
If you need to get a lower rent, be honest with your landlord as to your situation. Explain that you have had an income loss due to your job or business loss. During recessions landlords are very likely to understand your situation and work with you.
Of course it would be helpful to take some time and inquire about the price of rentals in the neighborhood you are currently living in. being able to so some comparisons you can then present to the management company's representative can always be of great help.
Proving other tenants pay lower rents in your areas is a strong argument that might smooth your way towards getting a lower rent. The management company isn't willing to lose any tenants, so they will be more flexible.
Be sure to negotiate directly with your landlord. If the complex uses a management company, negotiate with the highest ranking person available to you. Have proof available as to the reason your income is reduced and be sure to remind them that you have always paid your rent on time in the past.
Considering a discussion with your landlord about a rental payment decrease can be intimidating. Knowing how to approach your landlord to begin a dialogue is key.
Landlords and management companies always know it is better to lower the rent of an old tenant rather than to spend more money on tenant screening. You might also find it much more useful, practical and safe to negotiate a smaller rent rather than starting to look for other rentals you cannot probably afford given the circumstances.
Especially in times of recession, landlords tend to get more flexible and more willing to come to an agreement with their tenants in terms of lower rents. So don't be afraid, as a tenant, to ask your management company for a renegotiation of your rent.
If you need to get a lower rent, be honest with your landlord as to your situation. Explain that you have had an income loss due to your job or business loss. During recessions landlords are very likely to understand your situation and work with you.
Of course it would be helpful to take some time and inquire about the price of rentals in the neighborhood you are currently living in. being able to so some comparisons you can then present to the management company's representative can always be of great help.
Proving other tenants pay lower rents in your areas is a strong argument that might smooth your way towards getting a lower rent. The management company isn't willing to lose any tenants, so they will be more flexible.
Be sure to negotiate directly with your landlord. If the complex uses a management company, negotiate with the highest ranking person available to you. Have proof available as to the reason your income is reduced and be sure to remind them that you have always paid your rent on time in the past.
About the Author:
This writer has been publishing commentary pertaining to negotiation for the previous four years. Moreover, this writer is fond of blogging regarding New York neighborhood subjects, like Fort Greene apartments for rent and Prospect Heights real estate.
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