Brick Underground - NYC

Title: 8 Ways to Negotiate a Smaller Rent Increase at Lease Renewal Time

Summary: As the time comes to renew your lease, you may be concerned about how much your rent will increase. There are several strategies that can help you negotiate a smaller rent increase with your landlord. This article outlines eight ways to do so.

1. **Start early:** Begin negotiations well before your lease is set to expire to give yourself time to explore options and make a case for a smaller rent increase.

2. **Research the market:** Gather information on similar rental properties in your area to determine what a fair market rate would be. This will help you justify your request for a smaller increase.

3. **Show loyalty:** If you've been a long-term tenant, remind your landlord of your history with them and how you've paid rent punctually and maintained the property well. Emphasize your commitment to staying in the rental unit.

4. **Mention concessions:** If other tenants are receiving move-in concessions or discounts, make sure your landlord is aware of these deals and consider asking for similar benefits.

5. **Highlight property improvements:** If you've made any improvements to the rental unit, such as repainting or upgrading appliances, point this out to your landlord. These changes can help justify a smaller rent increase.

6. **Offer to sign a longer lease:** A longer-term tenant is generally more desirable than someone who moves frequently. If you're willing to commit to a longer lease term, your landlord may be more inclined to give you a smaller rent increase.

7. **Discuss financial hardship:** If you've experienced a significant change in your financial circumstances, such as job loss or reduced income, explain the situation to your landlord and request a smaller rent increase as a temporary measure.

8. **Consider mediation:** If negotiations become contentious, consider using a mediator to help both parties reach an agreement on the rent increase. A mediator can provide impartial guidance and facilitate discussions between you and your landlord.