Landlord Negotiation Tips For Renters
Sep 28, 2020
Despite the fact that we’re now more than half a year into a pandemic, rent just keeps coming due. One bright spot—Governor Cuomo officially extended the rent moratorium through January 1, 2021. Still, pressure is coming from all fronts right now but you might be surprised to learn you likely have a bit more flexibility than you think. Right now, rents are falling dramatically in some parts of the city (particularly Manhattan) and modestly in other areas (particularly landlocked neighborhoods in Brooklyn). It’s in the interest of landlords to keep on good tenants and, for the first time in a long time, it’s in their interest (usually) to negotiate with you.
Below, the Times has some tips for negotiation and we’re also linking to some past blogs where we’ve covered this since COVID first reared its head. But in general, the best thing to do before you talk with your landlord is to self-assess your situation.
- Do you plan to stay in NYC? (If yes, a longer lease might be appealing to a landlord)
- Do you want to stay but know your job is up in the air? (Consider asking for a short-term lease with the option of resigning another until the economy stabilizes)
- Do you want to stay and know your job is secure? Maybe it’s time to upgrade. Does your landlord have bigger apartments or ones with amenities you don’t currently have that might entice you to stay?
Above all else, think about what you need and why meeting that need could be helpful to your landlord. Approach it as a net positive for both of you because it really can be right now.
Here’s some more info:
- How To Negotiate With Your Landlord, the New York Times
- Landlords may develop a rent forgiveness program as city vacancies rise to 12%, reports Real Estate Weekly
- Info For Renters
- COVID-19 and the Brooklyn Real Estate Market: What We’re Seeing
- Renter and Landlord Advice