Housing

Negotiate rent increase with rental properties

Intel rochelle
Feb 2

Has anyone tried to negotiate rents at the time of lease renewal? What arguments did you make and did they make any difference? How much reduction did you see in rent?

The current rent increase they are asking for is $250+ / month.

Location : san jose.

comments

Add a comment
  • Veritas / Other13Jija
    I do it every year and here is what I have gained.

    2016- Increased by $320. Negotiated and Net increment was $225.
    2017- Increased rent by $350. Negotiated hard and net increment was only $10.
    2018 - Increased by $350. Negotiated and net increment was $150.

    You should negotiate increment. It’s your money. Even if you are able to bring down by $100. It is like $1200/year. This can be your 1 month loan payment of Pre owned certified Lamborghini.
    Feb 26
    • Salesforce Heimer
      How do you negotiate? What do you even say?
      Feb 3
    • Intel rochelle
      OP
      Exactly, what do you say to negotiate. Do you point out any issues in the house/ community which causes you inconvenience?
      Feb 3
    • Cisco / Design
      nasdaq

      CiscoDesign

      PRE
      Intel Corporation
      nasdaqmore
      Just say the real reason.
      Feb 3
    • Veritas / Other13Jija
      There are multiple ways of negotiating the rent increment.

      1) Check rent of other apartments in your community and surrounding communities. If they are less than the total price after increment then negotiations are simple.

      2) Build a story around for how long you are living in the apartment, nobody has complained about you, you love the community etc.

      3) Check how many apartments are empty in your community. If the count is large then you have an upper hand. Management doesn’t want high vacancy rate. After a certain vacancy rate number, there is an extreme pressure on them to fill the apartments.

      You have to have thick skin. Build good reputation with management and workers. Lastly, losing a tenured tenant is a loss for the apartment.
      Feb 3
    • Google 1234-/:;(
      Curious - why is losing a tenured tenant a loss for the apartment if they can just charge someone else the increased rent amount? Some grandfathered tenants pay way below the market rate
      Feb 3
    • Veritas / Other13Jija
      Google 1234 - It is simple Sales & Marketing logic. Acquiring new customer is always expensive than maintaining/negotiating with existing customer.
      Feb 3
  • Microsoft BcrX06
    I tried to negotiate an unfair increase at my old apartment in Bellevue. The manager didn't get back to me in time and now their apartment has been empty since December 6. Sucks for them.
    Feb 23
    • Inflation is almost zero why the increse? Just greeed
      Feb 2
    • Microsoft BcrX06
      They were very greedy.
      Feb 2
    • Collective Health pear
      Literally everyone is greedy. Stop acting like landlords are something special. They simply made a miscalculation and were too aggressive. If they had not raised the rent it wouldn’t have been out of ungreediness but rather because they want to play it safe and keep the money flowing it. That is still greedy.
      Feb 2
  • Clover Health / Engdoenfh
    Honestly, don't count on it. They'll likely be able to get more from you refusing and moving out.
    Feb 22
    • Fitbit YrOPremium
      They likely will want to avoid you moving out though, even a one month turn around for rerental can cost them a years worth or more in the difference in rent they will get from new tenants vs you
      Feb 2
    • New DuQvV7x
      A good landlord would have factored turnover into their equation
      Feb 2
  • Intel jul_kass
    Negotiate your TC
    Feb 20
  • How much you're paying? That will give a better picture of the increase
    Feb 22
    • Intel rochelle
      OP
      Current rent is $3050 for 2B2B.
      Feb 3
    • New MrPutin
      So it's 8% increase that's too much
      Feb 3
  • Microsoft zDce41
    They asked for 220 increase. Agreed on 115. The reason i gave was the rents have remained constant over the year. After couple of days they agreed on 115.
    Feb 21
    • Cisco / Design
      nasdaq

      CiscoDesign

      PRE
      Intel Corporation
      nasdaqmore
      Very similar situation
      Feb 3
  • Cisco FXzH34
    I negotiated 110 increase down to 60 a few months back. Irvine company apartments
    Feb 30
  • Intel / Engonerhief
    North San Jose - Irvine Company Properties? You need to let them know that you will move out if they don’t budge. Also check to see if they have a few other apartments in your building/community showing up as available. More than a few and we are not talking abt the summer - They will likely give in. But if there are none - then tough luck. They may also comprise to a smaller increase.
    Feb 20
  • Amazon / Engtylium
    Threaten to move out. Apartments in San Jose are subject to rent control.
    Feb 21
    • New DuQvV7x
      Rent control in San Jose allows up to 5% increase/yr.
      Feb 2
  • Facebook FbkEr
    Are you renting from an apartment complex community or an individual owner? For individual owners, you can request them to not increase rent while signing a little longer term lease.
    Feb 21
  • TD
    _Canadian_

    TD

    PRE
    IBM
    _Canadian_more
    Mention with examples how good and low-maintenance of a tenant you are. Talk about how you always paid your rent on time, how you never damaged anything and how convenient you are for the landlord. Reiterate that you two have a great relationship and that such a large increase of $X would be detrimental to your well-being and that a rate of $Y would be fair for both of you.
    Feb 30
  • Microsoft goattit
    If your landlord is a big company you can forget about it, they would rather have you leave, and the people working there have zero leverage they can only offer whatever the machine tells them.
    Feb 30
  • New DuQvV7x
    I ask what the market can absorb.

    I’ve never had anyone try, but they have no leverage. So, I would simply decline if they did.
    Feb 20

Download the app for more exclusive content.