If something needs to be done, or it seems like a good idea, I’ll generally pay for it out of pocket-- this is just good tenant relations. We came back to NYC and upgraded to a full-service rental building in Tribeca, Some NYC landlords are now offering three months of free rent to fill apartments. Required fields are marked *. I have many situations where tenants ask for upgrades. You might have something to offer that would be worth a reduction. How to Get Your Landlord to Lower Your Rent While on Unemployment. I insulated my hot water pipes, and installed a water circulator on a timer. When a tenant asks me to upgrade his apartment, there are two basic questions that I ask myself: Do Swap out fixtures. Filed Under: Home Improvement Then it rained in my kitchen. Save my name, email, and website in this browser for the next time I comment. First, time it right. For example, some landlords are willing to lower the rent for tenants who can pay before the first of the month. Remove them (and save them to put back up later) so you can put something up that looks better. Low-cost improvements that make the tenants happy:  new toilet seats, shower bars, hotel-style clotheslines. This can mean you luck out on anything from high-speed internet and new air conditioning to investments in energy efficient upgrades. My lease is not up. This also applies to virtually everything in a rent regulated apartment: Since rents increase slower than costs, I try to make up some of that through periodic apartment upgrades performed with the tenant's consent. Get some new shades. Amber Keefer has more than 25 years of experience working in the fields of human services and health care administration. Here are some electric and induction cooktop alternatives, How to get more light in your NYC rental apartment, Here are 5 houses for sale in historic Rhinebeck, NY, Here are 5 places for sale in Dobbs Ferry, NY, a Hudson River town, Here are 5 houses for sale in historic Ardmore, PA, Re-Lease Me: A landlord's guide to lease renewals, Is your landlord requiring you to get renter's insurance? Do I have to comply? Offer to sign an extended lease if the landlord reduces the monthly rent. Delivered to your inbox twice weekly - for free. © Copyright 2020 Hearst Communications, Inc. Hemera Technologies/AbleStock.com/Getty Images. Most tenants are afraid to ask their landlord for upgrades, as these tend to lead to rent increases. Projects that won’t harm their likelihood of attracting future tenants. Investments in energy efficiency that aren’t economically efficient, but improve the tenants’ lives. To prevent this, a deal like the following may make sense if you trust your landlord:  A $6,000 project, funded by the tenant, might be amortized over 60 months, so the tenant will get a $100 credit every month regardless of whether he still lives there. The same goes for drawer pulls and handles on kitchen cabinets. BrickUnderground's 7-step guide for first-time landlords, Moving to NYC? 4. The terms of a rental agreement are not set in stone until you sign on the dotted line. Remember, though, that if the upgrade won’t pay out anytime soon or is specific to your tastes, you’re going to have to pay for it one way or another, be it upfront or through increased rent. Landlords like cheap ways to keep their tenants happy. Most of the big stuff will be on the naughty list, but landlords are increasingly open to allowing tenants to paint these days, so long as they re-paint the walls again before they leave. What is a 1031 exchange, and how do I take advantage of it? How to Write a Hardship Letter to a Landlord for Delinquent Rent. Can they do that? Offer a busy landlord a helping hand. If you plan on staying there for a while, you won’t have to worry about a rent increase for the term of the lease. Forego amenities the landlord offers in exchange for lower rent. What do the new energy efficiency building grades mean to NYC apartment buyers? Landlords aren’t all the same, of course, but for the most part, you can count on them having similar goals: to attract good tenants, to keep good tenants, and to maximize their potential rental income. I’ll do these upgrades if the tenant promises to contribute, and if I think that the upgrade can be justified in terms of increased rent if the current tenant leaves. Offer to chip in to get higher-quality appliances (versus builder-grade). Keep these three things in mind when going over your wish list, and look out for these sort of projects: Upgrades that will keep their property competitive. Unless it is unrealistic, extremely expensive, prohibited, or otherwise unusually difficult, many small landlords will be happy to oblige. If you have a good history as a renter, point it out before asking for a rent reduction. Here’s a quick guide to convincing your landlord to led you renovate. Rent relief rejections, Airbnb costs tenants millions, & more, Fearful of election unrest, some Manhattan buildings are beefing up security, Concerned about indoor air pollution from your gas range? Get all agreements in writing. The result is that tenants get hot water instantly, and I can run the hot water heater at a slightly lower temperature, prolonging its life. Yes, and I'm happy to pay out of pocket: Not all landlords are skinflints. Whether you are filling out a new rent application or dickering with your current landlord, it can't hurt to ask. Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. Is that true? What Is My House Worth if I Want to Rent It Out? Most contracts will have a section that outlines what sort of repairs you can and can’t make to the place without your landlord’s approval. It’s in a landlord’s best interest to keep their property positioned in at least the middle of the rental market. Before you talk to your landlord, pull out your lease agreement and read it through. Follow up an oral agreement with a letter confirming the specifics of what the two of you discussed. Our co-op board failed to make important repairs, and now several units are uninhabitable. Here's a crash course in finding an apartment here, Tips for getting an apartment ready to rent, How to negotiate with a NYC mover: 7 tips that may save you big time, *By signing up you agree to receive occasional emails on behalf of our sponsors, 510 Fifth Avenue, 3rd Floor California State Laws for Getting Apartment Deposits Back. When a tenant asks me to upgrade his apartment, there are two basic questions that I ask myself: This gives me five possible answers to the tenant ranging from “right away sir” to “over my dead body." If there’s some upgrade that you want, talk to your landlord. If you aren’t sure how to negotiate to lower the rent or request extra amenities or upgrades, go about it in much the same way you would negotiate the price of a new car. Keep in mind that you should always check with your landlord before making any permanent changes to your place, but most of the below will definitely make them think you’re the best tenant in town! And empower the manager to reset the landlord tenant relationship to the extent possible and establish reasonable parameters (granted, they may already be in your lease but can still use assertive management). Landlords have a greater incentive to negotiate on cosmetic upgrades around when you first sign your tenancy agreement and when the time comes for you to renew. If you’re one of those aforementioned good tenants and have a positive relationship with your landlord, your odds of being able to talk them into allowing changes like addling ceiling fans, new counter-tops, and extra electric outlets are fairly high. Landlords who have vacancies they need to fill will usually consider reasonable requests. Copyright 2009-2020 by BrickUnderground | Privacy Policy | Terms of Service | Ad Choices. There are plenty of ways to upgrade the look of your apartment without risking your security deposit. How Do I Negotiate Cheaper Rent on an Apartment? How to Explain Your Recent Low Credit Score to a Housing Rental Company. If you are self-employed and want to refinance—here's what you need to know. how to convince landlord to let you paint, how to convince landlord to let you renovate. Keefer holds a B.A. Dear Ms. Demeanor: My building doesn't allow overnight guests if I'm not home. If it’s something you can live without, the landlord might actually save money by reducing your rent a few dollars each month instead.

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