Data increasingly shows that American renters have mixed relationships with their landlords, which could lead to acrimony for both parties and higher costs for tenants.
That’s unfortunate, but apartment management experts say it can be turned around. In turn, that can lead to a good relationship with a landlord that can save renters significant cash.
That’s especially true because experts say rental consumers have more than they have in 10 years, even though most don’t realize it. “Denver led the entire country with 68 percent of rentals offering a concession, and apartment vacancy hit 7.6 percent while concessions reached a 21- year record of 9.5 percent of gross rent,” Brett Johnson, founder at New Era Home Buyers and a licensed Colorado real estate agent, told NTD News.
Put a rent increase notice period into the lease
For renters in the 29 states with no statutory notice rule, this is the most valuable legal clause they can negotiate: a 60-day written notice with a stated maximum increase at renewal.“Make sure to negotiate the deposit, not just the rent,” Jordan Straight, founder at Landlord Atlas, a state-by-state reference on landlord–tenant law platform, told NTD.
Negotiate everything and promise to keep maintenance costs down
Many renters don’t know it, but many landlords are open to negotiating additional services such as parking, storage, pets, or water service, especially for renters who bring a strong credit report and solid income.“Good renters can also remove services they don’t need to lower the total cost,” said Greg Dallaire, owner and realtor at Green Bay, Wisconsin-based Dallaire Realty.
Renters can also conserve energy in various ways to keep maintenance costs down and keep their landlords happy. "Doing so can help you maintain a good relationship with your landlord," Dallaire said. “You can, for instance, use LED bulbs and have proper insulation for your premises.”
What renters should never do is choose a rental that is poor and unhealthy. "Remember, the landlord is responsible for fixing any hazardous electrical, plumbing, mold, and heating issues, and all rental costs need to be evaluated, including utilities," Dallaire noted.
Know your state rules on rental security deposits
When moving out, renters should hold their landlords accountable to the current security deposit laws. In every state, a landlord who keeps any amount of your deposit must send you a written statement listing each deduction and its amount (for example, carpet cleaning at $150, or wall repair at $85), within a specific deadline at 14-60 days after you leave, depending on the state.Tenants Have More Power Than They Think in Today’s Rental Market
Renters should know that a vacancy is the worst possible scenario in the landlord’s business. As vacancy is rising and the units sit empty for longer periods, a tenant that pays on time every month without fail is golden for the owner. “In exchange for no increase in the renewal, the landlords would be willing to have an assurance of twelve months of rent as opposed to thirty days of vacancy cost, painting, and marketing,” Greg Field, solar home realtor at HomeSmart Realty Pros, told NTD.One of the worst mistakes tenants make is going into battle at the time of lease renewal. “Sudden threats and requests on the last day do not help in anything,” Field said. “Instead, start talking to the landlord about ninety days in advance with the local neighborhood market prices in hand and a perfect history of on-time rent payments.”