Renegotiating with Landlord?
I pay $1,475 a month for a nice and newly renovated by small junior 1 bedroom in Greenpoint. I’ve been here almost 2 years – my lease is up at the end of June. But I was laid off last month and am living off of my severance and unemployment for now, and I called…
I pay $1,475 a month for a nice and newly renovated by small junior 1 bedroom in Greenpoint. I’ve been here almost 2 years – my lease is up at the end of June. But I was laid off last month and am living off of my severance and unemployment for now, and I called my landlord to let him now that I would need to break my lease early and was planning on moving out at the end of April. I thought 2 months notice was fair, and it is silly for me to pay so much when I could move into a 2 bedroom in the area with a roommate for less than $1,000 a month, probably even around $800 a month for a decent place seems possible now. My landlord took it well, but suggested that he might be able to drop the rent so I can stay for the duration of my lease, and he asked me to call him back soon. I am not sure how much of a decrease I can reasonably ask for, or if he could go low enough that it would be worth staying. Does anyone with experience in the market now have any insight? Thanks!
That’s great and good luck to you with your job and housing.
Just to update you all – we spoke again and he was willing to go down to $1300, but I think that will still be too much for me, so I am still planning on moving at the end of April. He said it was fine as long as I allow potential renters in to see the place closer to my move date, and we also discussed that he might have some 2 bedrooms opening up in the next couple months that would be more affordable for me to live in with a roommate. He was very reasonable and understanding of my situation (I’d recommend him as a landlord if anyone ever asked for those types of recs). Thanks for all the advice!
I am a landlord and in this market having a steady tenant who you know for less rent is better than one u don’t. Depending on when your landlord bought the place..he/she could be getting alot of cashflow monthly and can afford to take a big cut…either way I agree with others who have said tell them exactly what you can afford to pay.. If it’s not enough then move out as planned.
Good luck!
quote:
(think about it – does Con Ed let you off the hook if you dont pay the bill due to unemployment? – or do they just shut off your electric?)
actually, ConEd does have a program that gives you a waiver for a few months if you cant pay you bill (im serious). you just have to go thru a bunch of people on the phone to finally get to someone who will authorize it. it’s a little well known fact of how utility companies work. lol dont try it with the cable company tho, it wont fly.
*rob*
I read this post yesterday and babs’ comment irked me so much that I had to come back and comment on it.
First of all:
You make it sound like a tenant who is looking for some flexibility in order to find the right place for them or their family to live (for potentially YEARS)is somehow this underhanded person trying to get one over on you and their landlord.
Second:
Do you know how completely arrogant it is for you to say that a person who may have two or three months leeway in their move in date is “wasting your time”? They are asking you to show them an apartment because they want to rent one. That is your job. If they don’t like the apartment or aren’t settling in desperation then they are a waste of your time? Isn’t your job to help people find the right home for them, even if it means showing them multiple apartments over a period of time? Is this not what these same people are willing to pay you THOUSANDS of dollars for? You just want to show someone an apartment that has two weeks time, turn the key, flip the light switch and say “did you bring your checkbook?” “you really should put a deposit on this it’s gonna be gone tomorrow” “you’re not gonna find anything like this at this price” etc etc etc…and collect your $2600 fee. And why shouldn’t you? These are just renters..they don’t have the right to waste your time being picky about their home.
FSRQ, while you are right in theory, it costs a lot of money time and effort to enforce a lease. That’s why it’s generally easier for a landlord who has some common sense to negotiate.
I would take it down a notch. Both parties here seem like they are being reasonable. I certainly wouldn’t attempt to enforce a lease on a tenant that is recently laid off and trying to be responsible about their finances. I think that sucks. Because I paid a pretty high price for my house, I don’t think I would try to negotiate to keep the tenant–I couldn’t afford it. But if this landlord can afford it, it does make sense to.
Contracts are substitutes for trust, and are not always able to accommodate the reality on the ground. I think it’s great that both parties here seem to want to use trust and common sense to come to the best possible mutual outcome, instead of relying on the letter of the lease.
Anyone know a good collection agency?
You are getting some bad advice – you do not hold the cards here and I seriously doubt the LL will take a 50% reduction in rent in perpetuity. Frankly you can’t just walk away from the apartment – you are legally liable for the full term of the lease – and while Landlord Tenant Court may not evict, even if you never pay your rent – getting a civil judgement against you for the remainder of the lease term is relatively easy – especially since a collection agency will likely handle it all for a %. Not to mention that any LL/Tenant Court action (or civil judgement) will show up on checks by future LL’s and you’ll be blackballed from all but the worst run buildings.
You should just tell the LL what you can afford for now, and see what he says – if he has a higher number in mind (likely) ask him if he’d take the amount you can afford if you can bring him a qualified applicant at his agreed rent before the lease expires. This he may agree to because the lost rent after you move can build quick. Then work your ass off finding someone for the spot.
The reality is – you signed a contract; a non-contingent contract at that….therefore any negotiation the LL does is simply out of the goodness of his heart and/or to avoid the hassle and potential loss of chasing you for the $. Do not try to negotiate under some misguided notion that you are doing him a favor, or that it is a renters market, or that you are in a strong negotiating position – all are not true or relevant to your position.
Be humble and recognize that YOU are trying to break a contract that YOU freely and voluntarily signed – while often times (like other small business owners) a LL will see the humanity in the situation and try to work things out with you – the LL has every right to collect on the contract (think about it – does Con Ed let you off the hook if you dont pay the bill due to unemployment? – or do they just shut off your electric?)
You’ve just been lucky, ribrant, and I hope your luck holds out. I’ve dealt with too many situations in which manipulative tenants used the lack of any paper document to prove anything to take advantage of their landlords. In the old days month to month was standard because people generally trusted each other. Nowadays, it’s often not the case. You sound like someone who is able to get a good take on people and know which ones are trustworthy — I hope that continues for you, because one bad experience can burn you for life.