Sometimes, things happen that are out of our control. Whether it's the loss of a job, a serious illness or injury, or some other financial hardship, you might find yourself in a position where you can no longer afford your rent. You entered your lease agreement with the best of intentions, but now you find yourself struggling to cover the rent and all of your other bills, let alone have enough money for groceries and other expenses. You might be wondering if there's a way to lower your rent.
While it's ultimately up to your landlord or property manager, if you consistently pay your rent on time and you haven't violated your lease in any way, they might be willing to work with you on lowering your rent. Here are some ways you can advocate for a rent reduction.
First, Consider Rent Relief Programs
Before you ask your landlord or property manager to lower the rent, take a look at relief programs that are currently available to you and can help you pay rent. Typically, to receive rental assistance from your local government, you'll need to apply and wait to see if you're accepted. If you’re accepted, then the rental assistance money will go directly to your landlord or property manager to help you pay rent. This is a great option for you if you're nervous about approaching the property owner to talk to them about lowering your rent.
Know Your Local Laws
There are plenty of rental housing laws that vary by state. In most states, you are responsible for paying the entire length of your lease. However, depending on the state or even the city, there might be other laws you'll want to be aware of. For example, in New York, if you break your lease, your landlord must try to mitigate damages by finding a new tenant as soon as possible. And if they do find someone else, then you only have to pay for any months that your former apartment sat empty. Or, if the new tenant pays less than you did, you’ll have to cover the difference.
In San Francisco, there are rent control laws in place as well as the California Tenant Protection Act, which limits annual rent increases.
While your goal may be to remain in your current rental, it's good to know what financial burden you might face if you do end up breaking your lease, as well as the protections in place for both tenants and landlords.
5 Reasons to Write a Rent Reduction Request Letter
One way to advocate for lower rent is by writing a rent reduction letter to your landlord or property manager. Below are five reasons many tenants write rent reduction request letters:
1. Loss of a Job
If you lose your job and are struggling to make your monthly rent payments, you can try writing a letter to the property owner and ask them to lower the rent temporarily until you find a new job.
2. Financial trouble
Life happens and unexpected medical bills or a family emergency can come up. In this situation you could write a letter to your landlord or property manager explaining what you are going through and ask for a rent reduction for a month or two.
3. Neighboring properties have lower rent
Typically, apartment communities in the same neighborhoods cost around the same in rent. But if you notice that rent prices are trending down in your neighborhood for apartments that are very similar in size and location to yours, you can try writing a rent reduction request letter based on the neighborhood trend.
4. You've experienced a pay cut
If your hours were cut at work or your income was impacted negatively in another way, explain the situation to your property owner and ask them to reduce your rent until you find another job or your income level picks up again.
5. There's an issue with the property
The issue must be a serious one, not just annoying. If your health and safety is at risk, and the landlord hasn’t addressed the problem, you might be able to get your rent reduced. Check your local laws first to see what your options are before talking to the landlord. If it’s basic upkeep you’re concerned about, perhaps the landlord would be willing to lower the rent in exchange for you taking care of the lawn or other property maintenance.
Prepare Yourself to Negotiate
If your landlord is willing to negotiate with you, they might suggest some concessions in exchange for the lowered rent, such as signing a longer lease agreement, paying a higher security deposit, or agreeing to take on some basic maintenance work like mowing the lawn. Be ready to negotiate and understand that you might not get exactly what you'd hoped for. Do some research ahead of time and enter negotiations prepared with facts and information you can use to help bolster your case.
Rent Reduction Request Letter Template
If you're nervous about approaching your landlord, a letter could help determine how receptive your landlord or property manager might be to a rent reduction. Below is an example of a rent reduction request letter you might send to your landlord or property manager.
(Current Address and Unit Number along with City State and Zip Code)
(Date)
(Name of Landlord or Property Management Company)
(Address Printed on Your Lease and City, State and Zip Code)
Request to Lower Rent for (Unit Number)
Hello (landlord or property manager’s name),
This is (your name) and I live in unit (unit number). I have lived here for (insert time) and during this time I have always paid rent on time and have taken excellent care of the home. I have been a courteous neighbor and a good tenant.
I'm reaching out because I'd like to discuss the possibility of lowering my rent. Due to (your reason), I am finding it difficult to afford my current rent. A rent reduction would be incredibly helpful for me as I work through these circumstances. I like living here and would very much like to stay.
Could we schedule a time to meet, or could you give me a call at (your phone number)? I look forward to finding a compromise that not only meets my needs but your needs as well.
Thank you,
(Your name)
(Signature)
(Phone number)
(Email Address)
Having financial troubles can be tough, but hopefully these tips will help you negotiate with your current landlord or property manager so you can remain in your rental home.
