At your lease renewal time, you should try to negotiate with your landlord for lower rent, new appliances or other benefits. Merely singing your lease without negotiating may result in your not receiving the best lease terms possible.
Make it Clear You Want to Negotiate
When you sit down to speak with your landlord, make it clear that you are there to negotiate. Tell him that you like the apartment and his operation of the premises, but that you have done some research and found better rental deals. Then ask him if there is anything he can do to make his offer comparable to other apartments with cheaper rent or better appliances. Don’t threaten your landlord by saying that you will move out if he does not do what you want, but merely tell him that you have found other places and that they may work better for your financial situation, but that you would like to see whether you and he could agree on better lease terms.
Refer to your Payment History
One of the best ways to negotiate with your landlord for different lease terms is to refer to your continuous timely rent payments. All landlords appreciate timely rent payments because it allows them to pay for the bills necessary to run the property and pay the property’s mortgage. Pointing out to your landlord that you have an excellent payment history may induce him to lower your rent or offer other benefits, such as providing you with reduced or free parking.
Refer to Your Maintenance History
Another important thing you can do when negotiating is to remind your landlord that you have kept the property in good condition either by making the repairs yourself or contacting him anytime you believed something needed repair. This will show the landlord that you are a responsible tenant concerned with the quality and state of the apartment. If a landlord believes that you will help in to maintain the current good state of his apartments, he may be willing to reduce the amount of rent. This is because the landlord would understand that there is less likelihood of your apartment being damaged and needing repairs when you vacate the premises. Therefore, he would need less money to maintain his investment.
Refer to your Excellent Tenant Status
While less tangible than the previous two reminders, you should also refer to your excellent, overall status as a tenant. Hopefully, during your lease you have created a good relationship with your landlord and neighbors. Often, having a well-behaved, friendly apartment complex is worthwhile to the landlord. This may result in his lowering rents or waiving any lease renewal fees.
Ask for What You Want
If your landlord doesn’t suggest ways that he can change your lease so that it is less expensive, you will need to tell him exactly what you want. Don’t be shy, and be polite, but state exactly what you are looking for in your new lease and why you believe that you are entitled to your request. If you are willing to stay for another year or longer, tell your landlord that to further emphasize that you will continue to be a reliable, stable tenant.