High Rent

[booboobear]

[font=&quot]

If you are not happy with the rent you are paying have a look around the city for comparable product. See what other landlords are offering for the same amount of money. It's a renters market right now with interest rates being so low. Landlords are now competing with one another for tenants.[/font]

In theory they should be competng because if you look around they are lots of vacancy. In reality rents really haven't dropped. These brownstones that used to rent for $ 650 per month when there was a shortage jumped to $ 850 per month and they may have installed a new kitchen. These apartments should drop to $ 750 - $ 775 per month because that's all they are worth.

 

[Fred Zed]

its worth a try isnt it ? the worse she can say is no ... I have senority over the new tenants , so I feel entitled to pay below the market price .


the most she is willing to knock off is 10 bucks

I think maybe you need to redefine the problem. While n_v and the some of the other posters may have phrased things unfortunately I happen to agree that
you should consider focussing on the revenue side of the equation so that a difference of $150 in your monthly rent wont make that much difference to you.

 

[drlove]

Im paying 850 a month for a one bedroom , is it worth to downsize to a bachelor to save rent money ?

Yes. Remember, renting is, in effect throwing one's money away so to speak. That is, paying someone else's mortgage. Ideally, renting should be a temporary arrangement.

What you want to do is pay as little for your accomodations as possible while socking money away into investments and saving for a downpayment on a condo or a house. When you own, you will be building up equity. However, in your situation, it makes sense to downsize. After all, why pay more than you have to??

 

[Fred Zed]

Yes. Remember, renting is, in effect throwing one's money away so to speak. That is, paying someone else's mortgage. Ideally, renting should be a temporary arrangement.

Renting affords one a lot of flexibility and freedom. If I want to move to another city or country I can do that at short notice without having to worry about disposing of the property or renting it out to someone. For some, the freedom that renting affords is well worth the forgone advantages of building equity in property.

 

[Goober Mcfly]

Renting affords one a lot of flexibility and freedom. If I want to move to another city or country I can do that at short notice without having to worry about disposing of the property or renting it out to someone. For some, the freedom that renting affords is well worth the forgone advantages of building equity in property.

Does anyone else get an erection when Fred talks like this? Anyone?

 

[Fred Zed]

Does anyone else get an erection when Fred talks like this? Anyone?

Only you Goob
.


.

.

troll ?

 

[Goober Mcfly]

I love you Fred.

 

[drlove]

Renting affords one a lot of flexibility and freedom. If I want to move to another city or country I can do that at short notice without having to worry about disposing of the property or renting it out to someone. For some, the freedom that renting affords is well worth the forgone advantages of building equity in property.

That's certainly true, Fred. I was speaking from the perspective of someone who was not planning on relocating.

 

[Fred Zed]

I love you Fred.

Sorry to dissappoint you Goob but the feelings are not mutual

 

[Goober Mcfly]

Sorry to dissappoint you Goob but the feelings are not mutual

You BITCH!

*runs off crying*

 

[chicagotim]

$850 for a 1-bdrm is not bad. Sure, you could maybe find a basement apt or room and save yourself $100 a month. But now you're living in a basement. And don't forget, moving costs money. There's first and last, there's the time spent changing all your ID and services, redirecting your mail, buying all the little things like towel racks, paint, blinds, etc.

If you've been in your apt for a while, and have a good record of paying on time, speak to your landlord. Tell him/her you love the apt, you're happy there, you want to stay, but you're finding the rent a bit of a stretch and may have to move. If they like you, they may be open to a lower rent. Afterall, if you move, they have to spend a lot of time and money to find a new tenant. Meanwhile, your apt sits empty for a month or two, and the landlord loses more money than if they gave you the rent reduction.

One other thing: signing a lease benefits the tenant way more than the landlord.

 

[trek5]

$850 for a 1-bdrm is not bad. Sure, you could maybe find a basement apt or room and save yourself $100 a month. But now you're living in a basement. And don't forget, moving costs money. There's first and last, there's the time spent changing all your ID and services, redirecting your mail, buying all the little things like towel racks, paint, blinds, etc.

If you've been in your apt for a while, and have a good record of paying on time, speak to your landlord. Tell him/her you love the apt, you're happy there, you want to stay, but you're finding the rent a bit of a stretch and may have to move. If they like you, they may be open to a lower rent. Afterall, if you move, they have to spend a lot of time and money to find a new tenant. Meanwhile, your apt sits empty for a month or two, and the landlord loses more money than if they gave you the rent reduction.

One other thing: signing a lease benefits the tenant way more than the landlord.

Excellent insight and advice ....... since my posting , my landlord has agreed to waive my yearly increase , instead of risking to lose me as a tenant. its not much of a reduction but better then nothing .considering the location of my apt , 850 is actually a steal .