When the Rent is Too High
Manage episode 326689551 series 3342726
When the Rent Is Too High
https://www.kiplinger.com/personal-finance/inflation/604501/what-to-do-when-the-rent-is-too-high
Laws
Check your local rent control laws to see if an increase is compliant
Financial Aid
Some local institutions might offer rental assistance programs
Negotiate
On this point , remember to be respectful, professional and punctual to your landlord or leasing agent.
Try to negotiate before the lease expires to avoid desperation.
Rent increases arent necessarily built in stone. A former research of comparable data in your city might be an acceptable source for your landlord (Zumper and other real estate sites like Zillow, Redfin and Rent.com). Possible negotiation strategies are
- Adjusting date when rent is due
- Split into multiple payments per month
- Repayment plans
- Price reduction on renewal
- Prepay several months
- Lower price for longer lease
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