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Vita | My apartment now leasing for lower than I am paying? |
Ok, so I signed a lease last may to pay $1250/month for my apartment, now they are leasing these apartments for $1150. Is there a way to make them lower my rate NOW, or some type of fair housing law or something? If not, i know when my lease is up, they are probably gonna try to even raise my rent like every apt. complex does, so what about then? |
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A D
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As noted by others, you are bound by your lease agreement. I can imagine it is a frustrating position to be in.
Your best option might be, if you like where you are, re-negotiate 30 days before your lease expires. If they won't give you the lower rate, start looking for a new place.
You don't say where you are located, but in my area Spring & Summer are the *busy* leasing and real estate seasons. If a property is available in the Winter (off-season), many times the rental amount will be lowered to get it occupied. That may be what has happened at your complex.
Good luck |
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Sagebrush Kid
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If the rent went UP would you consider going into the landlord and asking him if you could please pay more? :>
You signed a lease at a rate you thought was fair at the time. That agreement is binding.
Now with the rental competition going up, rents are dropping. If rents are dropping in your complex, I seriously doubt that they will be raising rents, but they could if they wanted to. Doesn't sound like a smart thing to do, though.
I would definitely keep an eye on the local market and renegotiate 30 days before your lease is up. |
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acermill
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You agreed to a contract to pay $1250 per month for a year, presumably. Would you be demanding to know how to RAISE your rent if the management had raised rents to $1350 ? Of course not, and it works the same way in reverse.
This has nothing to do with 'fair housing' and everything to do with the contract to which you agreed. You can ASK, but management is under no obligation whatsoever to lower your rents. When May arrives, you can elect to stay or leave, based upon the rate offered to you at that time. |
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HMUSN
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the rent can fluctuate by what the tenants income is. If you are paying $1250 that is what you are stuck with. When your lease is up they can raise the rent to whatever they want it too be. you don't HAVE to live there. That is why it is only a lease. |
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Mr Placid
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This would be an issue only if the sole reason for charging you more was because of your nationality, your gender, your religion, etc. Have fun proving any of that. The more likely reason why new tenants are being charged less is because current economic conditions mean there is a lesser demand for rental housing in your area, which of course means landlords must lower the rental rate to attract new tenants. |
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Your #1 fan
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If I am paying you 40k per year for a certain job and someone else less should I lower your pay? No. This is depending on what you sign and agree too. I have had to lower my rents recently. This is more due to the time of the year than the area. the area will command 1400-1500 but I am low balling other owners by going to 1300. My goal is to get someone to rent not pass by. Others hold firm. |
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Nick B
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You may be stuck with this lease and rental amount but did you think about going into the rental office or management office and ask them to lower your rent.
The worst they can say is NO! So go try it. |
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Miloo
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they know they have you by the privates once you've moved in.
everyone already moved in, who wants to negotiate is behind the 8-ball... since they know you don't really want to move all your stuff out and find another place, they can just say 'no' and what are you gonna do?
You have nothing to bargain with unless you're actually prepared to move, and even then they probably won't believe you until you move, at which point it's too late.
"well damn, she was serious, oops" won't have done you any favours. |
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Ashfaque
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it is not the worrisome problem, rates are now a days not the same, check or consult with any real estate agent |
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M W
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They would be foolish to try and raise your rates. And I must say this sounds like Equity Apartments. They count on the concept the people would rather pay more than to move. Check out what people are saying at www.apartmentratings.com.
More than likely it is time to start collecting boxes. Either the complex is going downhill or they are pulling the ole Equity scam. Either way, forfill your lease, clean up, take pictures, get a walk-through on the way out; but get out. |
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prettymystery
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Since you signed a lease you will have to pay the full amount. You could talk to the landlord and confront him of the issue. If they raise it move out, sounds to me like they may be having trouble leasing out or else they would not lower the rent for the other apartments, keep that in mind when you lease comes up and you can negotiate with him. |
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