It's a lot easier to ask for a lower rent before you sign a lease. Once the lease is signed, you're bargaining power is a lot lower. However, you can still try to negotiate with your landlord. It's a hassle for him to find a new renter and if you are a reliable tenant, he won't want to see you go. If you can find a compromise that helps both you and your landlord financially, he might agree to lower your monthly rent even after a lease was signed.
Research the rental price of other similar properties in your area to see if you are overpaying.
Show these other prices to your landlord and ask if she's willing to agree on a price in the middle. Mention how these competing properties will make it difficult for her to get even your reduced rate from another tenant.
Ask if you can make improvements to your property in exchange for a rent reduction. You could make small renovations like adding new carpets or painting the walls.
Volunteer to help with run the building. You could work as the building superintendent, clean the pool or maintain the garden. This saves your landlord some money and he could pass the savings to you.
Offer to prepay your rent in exchange for a lower total payment.
Renew your lease early for a longer term and a lower rate. Your landlord could agree to this reduction in exchange for a longer guaranteed tenant.
- Always get your landlord's permission before making renovations to your rental.
David Rodeck has been writing professionally since 2011. He specializes in insurance, investment management and retirement planning for various websites. He graduated with a Bachelor of Science in economics from McGill University.