How to Renegotiate Lease Terms

Landlords typically do not want to change lease terms if the new terms are less favorable for them. As a result of this reluctance, you will need to provide adequate reasons to argue for your side of the issue. Here are some examples:

  • Negotiate for lower rent only after you have studied the market and compiled comparable options. If your landlord sees you are truly considering moving because you think rents have gone down in the area, the landlord may reconsider and want to keep you as a tenant. Typically, even if you stay at a lower price, the landlord will make more money than if the apartment is vacant for even one month.
  • Get out of a lease early by offering to have another tenant take over for you immediately. You are legally obligated to stay in the apartment, so the landlord has no incentive to let you out of the lease and face having the apartment vacant. If you offer a reasonable alternative for the landlord, assuring the tenant will move in at the current rent, you have provided your landlord with a reasonable substitute.
  • Ask for improvements to the property, only if you are wiling to give them as well. Tenants who care for the property well are more likely to see the favor returned.

Gross Lease

In a gross lease, the landlord agrees to pay all of the costs typically associated with owning a property. This would include utilities, maintenance, taxes and insurance. With a gross lease contract, it is important to clarify exactly what the landlord will be covering. For example, does "utilities paid" include electricity and gas or only water and trash? Do regular maintenance fees include payments made to a gardener to maintain the land? Without having these terms in writing, it is easy to interpret a gross lease in many different ways.

Leasehold Improvement

A leasehold improvement is any improvement to the property that increases its value. As a tenant, you should be compensated for leasehold improvements you make. For example, if you replace hardware in the kitchen, redo the bathroom floors or even clean the carpeting, you should be financially compensated. Prior to taking any of these steps, speak with your landlord about the fair financial compensation you are seeking. Many landlords will approve these expenses and allow you to deduct them from your rent. Others would prefer not to pay for these types of improvements, and they will deny you compensation if you make them.

blog comments powered by Disqus