| by Kenneth Chase | 11 comments

Ramit Sethi: Here’s How To Negotiate Your Rent


The single biggest expense for most people
is their rent and yet they never take the time to realize… Yes, it’s true. In fact, it’s true even in Manhattan
where I am sitting right now. You can negotiate rents because there
is a glut of apartments. Now it’s true it depends
on a variety of factors. All these things factor
in to the negotiability. Here’s how it works. You go to your landlord. You say, “Based on the data,
it appears that apartments in this neighborhood are trending
down by… In some neighborhoods right now,
they’re down over 15%. Can you believe that? What you say to them is,
“I’ve been a good tenant. I’ve been here for X years. I plan to be here
for many years more. I never cause unnecessary
problems or damage. I’d like to negotiate
for a lower rate. Here’s what I propose.” Now they might say no. It might be a pain
for you to move out. You might just accept
it, and that’s fine. It is a pain to pack
up all your stuff and move. But if you can negotiate, you can
often save hundreds of dollars a month. Which adds up to thousands
of dollars a year. All for one single conversation. Timing matters. I would recommend you begin this
conversation about two months before your lease is up. Why? Because if they say no, then
you have a decision to make. Do you want to stay and basically eat
it or do you want to move out? Now you need to know where
your landlord is coming from. If you move out,
they’ve got to scramble. They’ve got to find someone. They might have to
repair that apartment. That’s thousands and thousands of dollars
in lost income to them. So use that. Leverage that. Tell them that. So remember this: Your
rent can be negotiated. It won’t always work. Sometimes your landlord will
flatly say no. That’s fine. But when it does
work, it works big.

11 Comments

UNLEASHING POTENTIAL – PSYCHOLOGY VIDEOS

Mar 3, 2019, 4:04 pm Reply

It is ridiculous how expensive housing is, Especially in places like California.

Joan Zuniga

Mar 3, 2019, 4:28 pm Reply

I think the solution is more construction less regulation that will make more places available and lower the cost of rent for sure

billy bob

Mar 3, 2019, 5:29 pm Reply

You guys miss titled the video how to lose your deposit and apartment

funny men

Mar 3, 2019, 6:26 pm Reply

?

DIY LIFEHACKS

Mar 3, 2019, 6:45 pm Reply

In simple words he wants us to be homeless for few months

Isaac Chassman

Mar 3, 2019, 7:51 pm Reply

I would guess this works .1% of the time, thanks for the advice

Wealthbuilderz TV

Mar 3, 2019, 8:46 pm Reply

Yes always present your argument with numbers never with emotions.

Alvin Nguyen

Mar 3, 2019, 10:31 pm Reply

In sales the key is to ask. It never hurts to ask because the worst you will get is a no.

Askformoreinfo whichyouwontget

Mar 3, 2019, 12:54 am Reply

First CNBC make it series that actually was worth it watching since it taught something valuable. All other "make it series" show (cough or paid ad money to be shown) some Paris Hilton, Kardashian rich family kids that go 1 cent richer to "make it" to a billion. What a laughable sham cnbc.

Hey Y’all

Mar 3, 2019, 1:52 am Reply

Find roommates or buy a house.

Young Professionals

Mar 3, 2019, 3:45 am Reply

You can pay your rent in advance and pay a lower total amount

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