I love my apartment complex and want to renew my lease. However, I am wondering if they will try to charge me more, or if I am in a position to try and get my rent lowered, or if I should expect them to renew my lease as is. Anyone with personal experience in this situation, your advice would be appreciated!
2007-03-11 07:28:23 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
JT is correct that landlords LOVE a good, clean, prompt payer tenant! but that doesn't mean that you can negotiate your next rent downwards.
in most cities and states, the landlord must give you the new lease 30 days before your old lease expires for you to make a decision and sign it.
well, that gives you time to negotiate to keep it at the same rental price, correct? if you are shy, get a friend used to negotiating, like a real estate broker, to call the leasing/management agency or the landlord on your behalf. if so, make sure you tell them that he/she is acting for you before they call.
the reason why your rent may increase, and increase much more than you think it would, would be if the reassessment by the county hit your area, therefore raising the real estate taxes substantially. the cost of the raise in those taxes will be divided amongst all tenants.
if your complex has many newer tenants, usually they, not you, would pay the greater share in terms of higher rent for the same type of apartment.
yes, i have had a lot of personal experience as well as professional in living in and managing buildings, in my career, below.
2007-03-11 08:12:04 · answer #1 · answered by Louiegirl_Chicago 5 · 0⤊ 0⤋
If you are on good terms you should be able to renew your lease. There should be no rate increase unless it also increases on all apartments in the same building OR there has been improvements made to your unit OR you have been notified that there would be a rate increase . Normally you should be able to expect to be able to renew as is. A rate reduction is doubtful, but you could ask the landlord.
Read your present lease carefully as it may state the answers to most of your questions.
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I'm a landlord but rules may be different with yours and where you live. Hope this helps.
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PS : Landlords like to keep good tenants!
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2007-03-11 07:44:31 · answer #2 · answered by J T 6 · 0⤊ 0⤋
Usually when you renew youre lease it either stays the same or goes up but not by much. You can ask them if theirs anyway you can pay less rent if you have always payed rent the day its due then they migh lower youre rent Good Luck
:-)
2007-03-11 07:33:21 · answer #3 · answered by Anonymous · 1⤊ 0⤋