How to Lower Rent After Signing a Lease

When it comes to cutting monthly expenses, your monthly rent payment may seem to be a non-negotiable, especially if you have signed a lease. If youre paying too much for your pad, though, it may be possible to negotiate a lower monthly payment. Depending on your landlord, how much you're paying and the housing market in your area, you may be able to get your rent significantly reduced even after youve signed the lease and moved in. It may require some extra work on your part, but the extra cash will be well worth it.

Instructions

1

Research comparable properties in your area. If similar properties, especially those with more amenities or in better condition, are renting for a lower rate, present the documentation to your landlord and ask for a rent decrease.

2

Improve the property. With the landlords permission, you may be able to make improvements to the home, such as replacing old carpets, painting or upgrading fixtures. Ask for an adjustment on the rent to cover the costs of your labor and supplies.

3

Provide the landlord with a service. If you have landscaping or gardening skills, for example, offer to complete the yard work yourself so he does not need to hire a service and can pass the savings on to you. Other possible services include snow removal or pool maintenance.

4

Extend the term of your lease. Guaranteeing that youll live in the home for longer than a year may entice the landlord to lower your monthly payment, or at least forgo any annual increases.

5

Pay your rent in advance. Some landlords may be willing to reduce the rent amount if you pay several months or a year in advance.

6

Monitor the incentives being offered to new tenants moving into your apartment building or complex. If the management company is offering free rent for new tenants, ask if you can get the deal as well. You may need to sign a lease extension, and the free rent will likely be prorated over the course of the year, but youll see some savings.

7

Ask for other perks. If your landlord is not willing to budge on the rent, but you still believe youre overpaying, ask the landlord to add value to your lease by including free parking, free utilities or installing money-saving upgrades, such as new energy-efficient appliances. These perks can save you cash each month and relieve the sting of a high rent payment.

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