Rent Increase - how to negotiate?
Started by altitude27
almost 16 years ago
Posts: 2
Member since: Mar 2010
Discussion about
Does anyone have any great tips about how to go about negotiating a rent increase? My lease will be up soon and the mgmt company wants to raise my rent from 1140 to 1300. Granted, it is a renovated apartment in Kew Gardens, Queens but it is still a studio and definitely not worth 1300 a month. Especially when we are still in a recession!
Altitude, the best approach is to do a little market research. TREGNY has a quarterly rental market report; I don't know if it includes Queens, but it's worth looking at. If the company has listings online, see if they're advertising any incentives and what current ask for rentals in your building are. Then calmly approach your landlord and make your case in a logical and nonconfrontational manner. Often all you have to do is ask, but if you can present a reasonable case that the apartment isn't worth that rate, often you'll get what you want.
And if your landlord fails to see reason, be prepared to move.
Evnyc - thank you so much!
that seems very high rent for a studio in Kew Gardens. i would search on the web approx 60 days prior to expiration of the lease for similar apartments in that area as well as Forest Hills, Rego Park, etc. once you have what's out there, present it to your landlord. most don't want to have new tenants all the time and would prefer a person who is already there and pays on time.