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!
if he accepts 900 i would SO find out who your landlord is and be like ill pay 1100. as much as i think rent is too high, i doubt he’s going to accept 800 or 900 unless he’s in love with you. i dont know if youve mentioned if youre male or female.
*r*
Politely and humbly offer $800-900. Keep the $1000 in your back pocket for negotiating later. He may be interested in the month-to-month tenancy too. It would be easier for him to raise it back when your situation and the economy recover.
im not wrong. i know of companies that automatically throw out resumes based on someone’s address.
*r*
“the only caveat tho is that if youre applying and you give a bronx address you’re basically screwed.”
Wrong again.
While you are in a lease and legally obligated to pay full rent for remainder of term, its a pain for a landlord to go after a tenant who cannot pay and most would surely renegotiate down in a bad market. Personally, I think 1475 for a studio in Greenpoint is high (folks living there a while would be astounded that anyone would pay that much) so the landlord will not have an easy time finding another tenant. Try to find some comps that support a decrease before you talk to him.
No market experience needed. Just take heed to northsloperenter at February 27, 2009 9:07 AM. Also, consider negotiating a month-to-month arrangement. It’s a renter’s market. You have all the power. Good luck.
***Bid half off peak comps***
It sounds like both parties are pretty level headed and reasonable so i suspect this will work out one way or another. Good luck.
rob- I was born and raised in the Bronx. It happens to be a beautiful borough and my family lives there still. On the other hand, none of us would ever consider New Jersey 🙂
I wouldn’t get too crazy. You’ve signed a legally binding contract and if you break it he can get a judgment against you for the remainder of the lease. OTOH, if I was him, I’d rather let you out than be faced with an unemployed tenant who might not pay me anything at all at some point. Weird.