The recession has hit many people hard and one of the toughest areas for people nowadays is rent. Frequently, people who have been laid off or have taken a pay cut will look to negotiate lower rent so they can survive.
In order to do this effectively, you need to evaluate the apartment you live in. Is it managed by a company or an individual? Chances are if it is run by an individual person, you will be able to get a better deal.
Therefore, to begin with, before you start negotiating you need to find out who you should talk to, and be positive that the person you do talk to has the power to actually drop your rent.
After this, you should look around your area. Find out what the going rate is, as this will give you some power in the negotiations.
Rental rates rise and fall overtime, but in a recession period, the rates will be lower. This is your secret weapon when negotiating rent, for you can simply tell the landlord outright that you will have no difficulties finding a cheaper apartment. Be prepared with numbers on rates nearby, this will ensure the best deal possible.
Also, you should tell them that the motivation for you trying to get a lower rent is that your financial position has changed. Emphasize what a good tenant you have been and how well you have maintained your unit.
In doing this, you will show them that the best option for them is lowering your rent, rather than them having to find a new tenant. They know that this can be a time consuming and difficult process.
Lowering the rent for a good tenant is usually a preferable option to having a vacant apartment. In the end, it is better for both parties.
The writer has been blogging on negotiation for the last six years. Additionally, the individual enjoys blogging with respect to New York City neighborhood subjects, like Battery Park City apartments and Murray Hill apartments.