Rent: the biggest expense in my life. After 3 years in New York City, I understood the game. Its all about negotiating for your apartment renewal. With the unemployment at a high, the buyer holds the firm advantage.
I really enjoyed making this video. I share the negotiating techniques I used to save over $7,600 a year for my roommates and I on the renewal of my midtown Manhattan 2 br/2 bath apartment. If you want advice or help in your own negotiating, please contact me, its a challenge I enjoy.
The 4 points to use when negotiating your renewal:
- Find the current rates in your building by having a friend call the landlord or look at the building's website
- Locate comparable apartments in your neighborhood and their prices
- Explain how you really like living there and why you are good tenants (pay on time, keep the place clean, and are quiet)
- It hurts the landlord if you leave (they have to repaint, fix the place up, miss a month's rent as it sits empty, and they have to deal with brokers)
As long as you're willing to actually walk away, you can win. Good luck negotiating, a few minutes of your time can earn you a vacation to Thailand or that new 52" LCD tv you've been looking at.