Lower Rent NYC Area Filter please help

June 26, 2009 10:18 AM

Lower my rent at my current residence and stay for another year.

After the first year living in my current appartment, I didn't get an updated lease. The lease simply rolled onto the next year, or so they said. I'm not sure about the tenant/landlord right implications of this, but it might be of consequence. I live in Hoboken in a building managed by a corporation. Assuming the lease was automatically renewed, we have three months left.

I keep hearing that rents are dropping in the NYC metro area, and I would really like to pay less than what we are paying right now. My wife does not have a full-time job currently and I am going back to school full time, on a fellowship which, although bigger than average, still brings a big drop in income for our household. Can I approach our landlord and try to negotiate a new lease for another year with a lower rent?

Our next-door neighbors are moving away and soon and I could approach the new tenants and find out how much they are paying for rent, and if it is less than us, should I bring that up with the landlord? Who, again, is not a person but rather a corporation.

How should I proceed in this case?

posted by spacefire to home & garden (10 comments total)

We went through this with our landlord (also a big corporation) recently. They absolutely would not lower our rent, but they did waive the yearly increase for us. Obviously they understood our disappointment and once we mentioned a couple things in the apartment we'd like looked at before renewing our lease, they bent over backwards to accommodate us.

We got new light fixtures, our oven replaced (one burner was faulty), new digital thermostat, duct cleaning, paint touch-ups and a free carpet steam cleaning. The steam cleaning was actually part of our lease that we were obligated to pay for ourselves, so that did save us money. We were happy enough with their efforts that we signed a longer-term lease, which did take off some money from the monthly rent. This was something they'd always offered, though.

Times are tough right now in the rental market in many places. I've talked to people and even read an article or two about what you're asking about. It's absolutely fine to attempt to negotiate with your landlord or the authorized manager. You might not get what you want, but you might be able to get other concessions as we did if you want to explore that.
posted by empyrean at 10:34 AM on June 26

Assuming the lease was automatically renewed, we have three months left.

I've never heard of an automatically renewing lease. Perhaps they were willing to renew at your old terms, but unless you've signed something, you've probably technically been living month-to-month at the old rate.

This is the type of thing that you should talk to the landlord about. Sadly, because it's a corporate entity, you're probably going to wind up talking with an agent who doesn't have much incentive to keep you in the apartment. You'll have to work the chain of command to find anyone who actually sees the bigger value in keeping a responsible tenet in the place, rather than someone who is just looking for a commission.
posted by wfrgms at 10:35 AM on June 26

Do you have the original lease? It would have to specify that the lease automatically rolled. Sounds shady to me - but I know nothing about NJ law. If they have a valid lease they are a lot less incentivized to deal with you. You could just be going month to month - which means you do have some ability to negotiate.

If it turns out the lease isn't valid collect as many comps as you can and find out what other incentives they may be giving in other buildings and ask them for all of that. Ask for a price that is not totally unreasonable, but that is lower then what you actually think is fair based on comps + the hassle/cost you place of moving. Also find out if you have any recourse for them playing games with the old lease. It might be a nice carrot to dangle.

Write the person you speak with a polite business letter saying why the current lease is too high, and how given your current month-to-month status your willingness to leave if they don't deal. Use the numbers to make an argument for what you think you should be paying. Prepare for them to counteroffer. If that counter is still unacceptable tell them you are walking unless they come to a number higher then your original offer but at or below what you are really willing to pay. If they don't come to you after that then walk - because you already have the comp in the nabe that is going to give you that deal. Once they realize that is happening you actually have an even better chance of what you want. But you can't be bluffing. You have to be prepared to move.

Also hope like hell they haven't already rented your neighbors place. They are more likely to give you what you want if they already have that vacant unit close to yours.
posted by JPD at 10:39 AM on June 26

Do you have the original lease? It would have to specify that the lease automatically rolled.

generally leases convert to month-to-month if neither party gives notice of termination; this is part of State Real Estate Law and not the terms of the contract, though the contract should also specify this.
posted by @troy at 10:49 AM on June 26

generally leases convert to month-to-month if neither party gives notice of termination; this is part of State Real Estate Law and not the terms of the contract, though the contract should also specify this.

Right but our poster wasn't told it went month to month they were told it automatically renewed
posted by JPD at 10:59 AM on June 26

Just chiming in with a few things:
- I signed a lease a few years ago, had no conversation re: renewal. I saw a lawyer (free for grad students) before I left my place to prevent any problems -- and I was told that for that particular area (MA) it would flip over to month-to-month. This meant that if I wanted to leave I had to give notice in writing to my current landlord before the start of the month or the start of the month

This is what I did to lower my rent (worked for me, but they are really having problems renting out places here -- as the rents are dropping and pple are switching apartments around NYC, etc.):
-Made appointment with person who does renewal, walked in and stated that I was considering renewing but wanted to see the potential rent price for the year. The person automatically listed a lower rent.
-I said I would think about it and would get back to this person later. (Some people will either fill in ithe void if you stay quiet and/or fold if you stay quiet or offer to "think about it") The response? On the spot, she offered to lower it more.
-What I could do next (forget that I am moving to a better apartment) to try to lower it more?: I looked online on streeteasy and punched in the neighborhood - guess what, they are listing places in my buidling for even lower. I would have walked in with that next. I would try to see if you can find your apartment in there - but change the setting to rent, not sales.

Good luck.
posted by Wolfster at 11:12 AM on June 26

Perhaps try negotiating a 16-24 month lease at that cheaper rate. The landlord may consider off-the-wall options because of the economy??
posted by heather-b at 11:15 AM on June 26

Call or write a letter asking for a decrease in your rent and expressing that if you don't get it, you'll have to move because you've found a cheaper/more desirable apartment elsewhere.

I got my rent lowered by 13% doing this. This is kinda beanplate...
posted by jckll at 11:19 AM on June 26

generally leases convert to month-to-month if neither party gives notice of termination; this is part of State Real Estate Law and not the terms of the contract, though the contract should also specify this.

Right but our poster wasn't told it went month to month they were told it automatically renewed

My high school history teacher told me that the domino theory was proved right after Vietnam. People say all kinds of incorrect things, either from malice or ignorance.

I would be shocked if your lease automatically renewed into another 1 year commitment but I suppose it's possible. As someone said above, more typically after the term the same conditions continue until such a time as an intent to leave is sent or a new lease signed.

But no matter what it is, this will be spelled out in your lease. Look it up.

As far as finding out what new people are paying, can you not simply call the corporation and ask about rates, pretending to be someone else? Or have a friend do it?
posted by phearlez at 12:15 PM on June 26

I am a NJ licensed attorney; IANYL.

In Jersey, if you hold over in an apartment on which the lease has expired, your term of rent turns into a month-to-month rental. "Automatic renewals" aren't valid unless there's a specific clause in the lease that creates such a thing.

We should compare notes, btw. I'm in the same spot you are. My current lease ends in 2 months and I want a decrease in rent! Drop me an email/MeMail if you want to discuss local rents.
posted by LOLAttorney2009 at 5:29 PM on June 26