How to Renegotiate Rent

Savvy Community: Any Tips to Renegotiate on Rent?

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This anonymous poster in our Savvy Confessions group needs tips on how to get a lower rent when renewing a lease. Help out and leave your comments and suggestions below.

Hi guys! So my lease is going to be up soon and because we got a discount for the first year, our rent will be higher if we renew our lease — the discount doesn't apply anymore. Do you have any tips on what I can say or do to have it stay the same price as the first year or get an even bigger discount? My roommates and I might have to pay about a $100 more.

Share your own career- and finance-related questions anonymously in the Savvy Confessions group for a chance to be featured on SavvySugar and advised by fellow Savvy readers.

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CommunityRentingSavvy Confessions

2 Comments

The challenge here is that generally, rents are rising nationwide. If your landlord is an individual, you might have some luck with "we are taking great care of your house and paying on time or early every month," if both of those things are true. The best way to do it is find some similar, cheaper, comparable options and present them to your landlord. Tell them you're willing to move (and mean it) if they can't match the price. If you aren't willing to switch, then don't expect much movement. If you can't find any cheaper comparable units, then you really don't have much leverage, so you just have to hope that you get lucky and ask while they're in a good mood!
brilliance13 brilliance13
I'm interested to know as well... I live in a Chicago highrise and they just flat out said "NO"
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