Whenever we spoke with neighbors they were so thankful that they didn't increase the price that they immediately signed. In fact of the maybe 20 people we spoke over the years, none attempted to renegotiate their lease.
My expectation is as PPP is now running its course a lot of white collar jobs will be terminated which will put pressure on the housing market as whole. I believe we should see a dramatic drop in prices by early next year (nobody really buys/sells during holidays).
But even if you don’t like it, there is little to be lost. The worst they can do is to say no and then you pay whatever rate they asked for if you decide to stay.
I tend to reside in more expensive buildings so they have harder time finding tenants. That’s why I ask for the costs of finding a new tenant as a discount.
This only works in falling market or in market with plentiful of supply. When we lived in SF we paid what they asked for.
Great stuff. Thank you for the reply!
Even when we lived in SF, where negotiations were almost impossible as they would have filled the unit within a week, they still were willing to do something in order to retain us.
think of the analogy "even money" in blackjack - when the dealer is showing an Ace but you've got blackjack, most objective people will take the "even money" versus gamble against whether the dealer has BJ or not. also why you tend to not split tens unless you're counting =p