The recession has hit a lot of people hard, and one of the hardest areas for people these days is renting. Often times, people who have been laid off or received a pay cut will seek to negotiate a lower rent in order to survive.
When deciding to negotiate your rental, you need to assess what is happening in the local real estate market. Generally, you will also need to consider the size of the building you are in. Most of the time, the fewer apartments managed by the same person or company, the more open to negotiation they are, and vice versa.
So to begin with, before you start negotiating, you need to find out who you should speak to and be sure that the person you speak to has the power to lower the rent. After this, you need to look around your area. Find out what the current rate is, as this will give you some bargaining power.
You may find that rents in the area have dropped recently, so during negotiations, you could tell the landlord that you could easily find a cheaper place now. Although this can be time consuming, having a few figures to tell the owner will give you the upper hand in the negotiation process.
Also, you should tell them that your motivation for trying to get a lower rent is that your financial situation has changed. Emphasize what a good tenant you have been and how well you have maintained your unit. By doing this, you will show them that the best option for them is to lower their rent, rather than find a new tenant. They know that this can be a difficult and time-consuming process. Lowering the rent of a good tenant is usually a preferable option to having an empty apartment. In the end, it is better for both parties.