Title Gore edit: I saved $444 a YEAR on my rent, not $444 a month (I wish!)
Hi r/Frugal
I want to share this story in part because I am really proud of myself and also as an example of negotiating for those who might find it intimidating or taboo.
It's time to resign my lease and my apartment complex was planning on raising my rent from $1473/month to $1547/month. I live in a 795 sq. foot 1 bedroom apartment in a HCOL area. My apartment complex is managed by a national chain, so I asked to meet with someone regarding the terms of my lease.
I dressed nicely and started by asking general questions about my lease, which allowed the representative I was meeting with to bring up that my rent was increasing by $74 dollars a month. When I asked why the rent was being raised, she told me it was to keep up with the market.
At this point I asked if I could show her some research I had done, since she brought up market prices. Before this meeting I made a spreadsheet of 10 other similar style apartment complexes and their rents for apartments about my size. I used the app Apartment List for this, which made doing research super easy!
I asked based off of my research if they would consider $1500 a month instead. She emailed my offer to her manager and included the fact that I had done research before my offer in her email. They later came back and offered me $1517 a month, which I countered with $1510. They accepted this rate and I ended up saving $444 dollars a year on my lease!
The rep I met with mentioned multiple times how impressed she was with my negotiating skills and even said it was fun to work with me. Really, all I did was come with some basic research and a respectful demeanor.
If you are considering asking for a raise or asking to pay less, I hope this story helps motivate you! Talking about money is not taboo and simply asking is sometimes all it takes to save money.
June 13, 2018 at 02:13PM
