Negotiate rent increase with rental properties
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.
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.
Apartment complex
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.
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.
Threaten to move out. Apartments in San Jose are subject to rent control.
Rent control in San Jose allows up to 5% increase/yr.
How much you're paying? That will give a better picture of the increase
Current rent is $3050 for 2B2B.
So it's 8% increase that's too much
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.
Very similar situation
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.
Inflation is almost zero why the increse? Just greeed
They were very greedy.
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.
How do you negotiate? What do you even say?
Exactly, what do you say to negotiate. Do you point out any issues in the house/ community which causes you inconvenience?
Negotiate your TC
Honestly, don't count on it. They'll likely be able to get more from you refusing and moving out.
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
A good landlord would have factored turnover into their equation