Dec 1, 2023

How to renegotiate your NYC rent

How to renegotiate your NYC rent

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Green Box | Capital City Bins

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Life in NYC is pretty expensive. Probably the most expensive part of living in this city would be paying the rent for your apartment. Nowadays, you cannot find even a small apartment under $1000 per month. For this reason, many people are already looking to rent packing supplies from Capital City Bins and hire movers. Still, if you want to continue living in NYC, you can try doing something about your rent. Here is how you can try to renegotiate your NYC rent with your landlord.

Check your lease

First of all, it would not be wise to try if your lease isn't up. This is probably one of the most important parts of renegotiating. The problem is your lease. Your lease basically acts as your contract. If you are in the middle of your contract, you cannot suddenly change the rules of it. You will hardly find a landlord that will agree to decrease your end in the middle of your lease. Usually, people try to renegotiate their rents once their lease is up. For this reason, do not start looking for green moving boxes and planning your move if your lease is still not over. On the other hand, if your lease is about to be over, it is time to start planning your strategy. First of all, you should find 3 similar apartments in your vicinity that are going for less than you are paying. This way, you will have these three apartments that can support your argument and reasons why you should pay less. If you like your apartment, it would be quite hard to organize your relocation, especially if you set up a home office and decorated everything the way you like.

person looking at the screen

See when your lease is going to be up.

Make a strategy to renegotiate your NYC rent

In order to be successful, you need to have a good negotiation strategy. First of all, you should bring up the best qualities of the apartment. Name all the reasons why you would like to re-sign, why you enjoy living in your apartment. However, make sure to emphasize how other apartments with the same facilities are cheaper. Try to be calm and patient while listing all the reasons. You will not renegotiate your rent if you lose your composure. In addition to this, you should also remind your landlord why you are a good tenant. Make sure to emphasize the fact that you always pay your rent on time, keep the apartment in good condition, store your items in a storage unit using green storage bins in order not to make a mess in your apartment, and so on.

two people shaking hands

Remind your landlord why you are a good tenant.

What if this does not work?

  • Try to be flexible and consider your landlord's offer
  • You can start searching for a lease takeover posted by a landlord
  • Try to request a reduction

Usually, landlords are not willing to renegotiate your NYC rent. For this reason, if your first attempt is not successful, you should consider the previous options.