Landlords Lowering Rents to Keep Tenant Eyes from Wandering

Painfully aware that they no longer have the upper hand in the bargaining process with renters, more and more landlords are taking the inevitable step to keep the tenants they have from looking for unbelievable Craigslist deals and simply cutting their rent—sometimes voluntarily. The Times talks to landlords who admit that they've been sending out new leases at renewal time with unexpected discounts since they've seen so many tenants eager to jump ship to test a buyer's market. After a big spike in new rentals this spring after a tremendously slow first quarter of the year, one president of an appraisal firm tells the Times, “There’s a confusion between more activity and rents rising. I think the spring saw more activity.” Making things worse is the fact that 14,000 new units are expected to come online in 2010 alone. While some renters are getting unsolicited price cuts, one Williamsburg resident had to make an offer he had his doubts about. Not only was it accepted, he didn't even have to renew his lease. He tells the paper, “After I got my rent lowered here, I started negotiating with everyone. I got my cable bill lowered!”

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By Billy Parker in News on August 9, 2009 6:31 PM

Comments [rss]

Bubba

Well, the evil scum at Samson Management of Rego Park won't cut any breaks at all.

[mis]inheritance

Finally, the consumer/renter is able to have some say over the bills they pay without getting a crazy look.

It's easier to talk down anything nowadays. I've heard that some things can even be negotiated at department stores like Best Buy.

corbindallas

as a landlord my rents have always been whatever my costs. not trying to make a profit. Just paying down my property. have the same tenants for 4 years now.

[mis]inheritance

WHOA! Plus one for altruism. The world needs landlords like you.

Tpooh2

Then you are one of the good ones and your tenants should be thankful for having you :-)

downer

I got mine down 10%, but if things get worse, I won't hesitate to work him a bit more.

Cautious Pessimist

Hell yeah. I just renegotiated my lease for 15% less than last year. I was blown away that my landlord accepted that.

Take em for everything you can, you won't get many opportunities like this ever again.

downer

how did you negotiate that, goodcow?

goodcow

I got Verizon to give me six free months of DSL.

cool

i blame lower rents on evil mike and his developer friends

theendofirony

Weirdly enough, you CAN negotiate your cable bill lower. My friend did it when he moved, simply claiming, "oh, i used to pay less at my old place."

[mis]inheritance

Finally, the consumer/renter is able to have some say over the bills they pay without getting a crazy look.

It's easier to talk down anything nowadays. I've heard that some things can even be negotiated at department stores like Best Buy.