Landlords are the thorn in the side of renters across the world. While their purpose may be to lease housing and provide basic services like repairs, renters often find that their landlords fail to meet even this low standard—and charge a high fee for doing so.
For example, one internet user claimed that she discovered her landlord was illegally overcharging her to the tune of thousands of dollars. Another alleged that their landlord took all of their belongings, while many others have simply shared the trials and tribulations that come with dealing with a landlord during everyday apartment living.
To make matters worse, renters are finding that their landlords are increasing their rental prices upon lease renewal, often without making significant changes to the dwelling; Avail estimates that landlords increase rent by an average of 5 to 15% year over year.
Renters being put into a position of being asked to pay more for their rental often think there’s nothing they can do to fight it. However, one TikTok user says there may be a way to.
In a video with over 1.1 million views as of Friday, TikTok user Moriah (@moriahhmichelle) explains how to go about preventing a rental increase—or even lowering the price of your rental.
"If you are renewing your lease and they're raising your rent by $200 or $300, they also have the ability to bring your rent down," she states near the beginning of her video.
To start, Moriah advises that renters bypass the leasing consultant and go straight to the property manager. The property manager, she says, has more control of the final price and, in her experience, knows how much the company would be willing to increase or reduce rents.
As evidence, she says that at her previous job, the property manager had access to a screen displaying all rates and comparison rates, including a small box indicating how much they could adjust the renewal price.
"There's a little box, and on the box, there's a number inside. It could be 50, 300, 400, 500, 100, 150, 175. That's the amount of money that can fix your renewal price," Moriah says. “So let's say your rent is $1,500 currently, and your renewal rate is $1,750. Then, I go into your little thing and I look in the box. It says $150—I can bring the renewal price…down $150.”
"Anytime somebody says they can't do anything about your renewal price, they're probably lying to you because they want to make money. But there's always a way to bring down your renewal price," Moriah adds.
@moriahhmichelle hope this helps someone ???????? #renterfriendly #rentcrisis #rentincrease #rentalhacks #rentalfriendly #rentingtips #apartmentliving ♬ original sound - MORIAH
In a follow-up video, Moriah offered some tips about how to approach this conversation with one’s property manager.
To start, Moriah recommends comparing rates of nearby competitors within a 5 to 10-mile radius, focusing on buildings with similar floor plans and styles.
Once one has gathered these rates, especially if they are lower than your current or proposed renewal rate, they should bring them to a meeting with the property manager.
“You don't have to say, ‘Hey, I'm broke.’ You just say, ‘Hey, I'm not comfortable paying this much of an increase, and this is what your competitor is offering. And I would like to take that offer versus stay here,’” she says.
Later, she adds that property managers are motivated to retain tenants due to bonuses and occupancy targets. To that end, knowing the current occupancy level of your property can also be used as leverage in negotiations—information Moriah says can be gained by simply calling the property.
That said, Moriah stresses that one should be prepared to walk away or pay the new rate if negotiations fail.
“Do your due diligence and, like, do your part,” she summarizes. “You don't have to just take the renewal price just because they're saying, ‘Hey, this is your renewal price.’ There's always something that can be done.”
@moriahhmichelle Replying to @Lynn hope this answers alot of your questions ???????? #renterfriendly #rentcrisis #rentincrease #rentalhacks #propertymanagement #rentalfriendly #propertymanager ♬ original sound - MORIAH
In the comments section, current renters and former rental managers offered their opinions on the advice provided by Moriah in her video.
“I work in property management, if they won’t keep you at your current rate ask them to update something in your unit for the increase. Especially if they are renovating units in the complex already,” a user suggested.
“AND if the property manager won’t, you can also call corporate and speak to the regional manager,” another stated.
“I did this this year. They increased my rent $30 and approved me for a two year lease.I've been in my apartment for 8 years.Easiest process ever,” wrote a third.
The Daily Dot reached out to Moriah via email.
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The post ‘They also have the ability to bring your rent down’: Former property manager shares trick you can use when your rent is being raised appeared first on The Daily Dot.
