How to Negotiate Your Lease Before You Re-Sign

Moving to an apartment is such an exciting time for many of us that we quickly sign our lease and move in without a second thought to the parameters of our lease agreement. After all, we assume that if we are making our monthly rental fee on time and we keep the noise to a minimum, we are protected within our tenant rights. What renters quickly realize, however, is that there is much to be negotiated when to comes to re-signing a lease.

Just as an apartment manager may inform you of a rent increase prior to a re-sign, you have the right to inform them of the terms you would like to renegotiate. An apartment rental is a reciprocal relationship; renters are not beholden to accept any and all stipulations built into the lease agreement, just as an apartment manager is not beholden to accept any price we choose to pay them. There are details that must be considered when entering into a lease agreement. For those who have come to the end of their lease and are considering re-signing, consider the following terms to possibly revisit:

Rent Price

First and foremost, you need to ensure that you are paying a competitive rent for similar units in your area that offer the same amenities. While a rent increase may be somewhat expected at the beginning of a new lease, it is important to ensure that this increase is in line with other apartments for rent in the area. Do your research and find examples of apartment rent prices in your area to show your apartment manager.

Also, you may also consider a trade in services. If there is work that needs to be done in the apartment – repairs and renovations that an apartment manager would normally have to pay a handyman to complete – and you are good with tools or a paintbrush, consider offering your services to the apartment manager for a reduction in your rent. If such an agreement is reached, however, make sure that it is clearly stipulated in your lease agreement.

Additional fees

There may be additional security deposits due every time a lease is re-signed, especially if there are pets in the apartment. This may be a particularly good area of negotiation especially if you have a track record of no damage done to the property. Apartment managers are only interested in making sure the property is protected from possible damage for which they will be responsible. By demonstrating your responsible behavior as a tenant you are in a much better position to negotiate.

Lease Length

Most lease agreements go year to year. But for those tenants that are planning on staying in the apartment for a particular length of time and are willing to remain contractually obligated to paying the rent, there may be some negotiating room with the apartment manager as far as lease length and rent price is concerned.

Noise violations and Other Lease Agreements

Going over lease stipulations when resigning is a good idea as well. Living in an apartment tends to be tricky as neighbors can often hear the slightest of noises. So what may sound perfectly acceptable to your neighbor would be considered a noise violation by the terms of the lease agreement to you. Many a rental relationship has been ruined by these often ambiguous rules. Consider sitting down with your apartment manager to redefine the rules so that everyone is comfortable.

Move Out Costs

While your apartment manager may remind you that you will have to pay movers and go through the hassle of moving your stuff should you not resign the lease as is, you can also remind your apartment manager of the costs that it will take for them to clean and repair anything in the apartment for a new tenant to take over the apartment should you move out instead of sticking around for another lease term. Also, remind your apartment manager that there is no telling how long the apartment will sit on the market without someone renting it should you move out at the end of your lease. Knowing the vacancy rate or the complex can help you in this area.

Having a conversation to renegotiate a lease can be awkward; but it’s important to understand that this is a completely acceptable platform to negotiate. This is your living situation and you should be comfortable with its terms. You may want to give your apartment manager a call several months prior to the end of your lease to let him/her know that you would like to meet with them privately to discuss the terms of your lease renewal. By being proactive you can save yourself many headaches down the road.