48 newyork| september14–27, 2020
Renegotiating Your Rent(OrFinding a Better Deal)InJuly,rentsinManhattandroppedby3.1percent—areductionnotseensincetheGreat Recession.And new listings continue to enter
themarket withsignificantlylessdemand.Thismeansthere’s anopportunityforNewYorkerstoupgradeorrenegotiatethetermsoftheirleases.
ValeriaRicciullispokewitha dozenreal-estateexpertsandtenantswhohaverecentlymovedtofindout exactly how to make a deal.➽Don’tbotherif yourleaseisn’tup.Thisis themost importantpart of renegotiating.If you’re in the middle of a lease
andyouseeanotherunitinyourbuildinggoingfora lotlessthanyours,it is very unlikelyyour landlord will decrease your
rent—there’sa contractinplace,saysEllenDavidson,a staffattorneyat theLegalAidSociety, so the lessor has every right
todecline.If yourleaseis abouttoexpire,thenattempttorenegotiate.Andif youneedlease-related legal advice, it’s always
besttoconsulta lawyer.➽Findthr ee similarapartmentsgoingfor lessthan you’re paying. Spend some time
researchingwhatelseis outtherebeforegoingtoyourlandlord.If youliveina one-bedroom, say, look for another one-
bedroomlistedinthesamebuildingorinthesameneighborhoodinthesametypeof building. (Is it a condo or co-op with
anelevator?A walk-up? Is therea laundry room?A gym?)“Ifyoucanfindat least threeapartments that can support your
argument,thatwouldbe compelling,”saysRobertKhederian,a brokerwhohas recently helped several of his clients
renegotiatetheirleases.Sara Laraandherfiancéwereabletoget a $525reductionintheirMidtown East rent by emailing
theirbuilding’s property-managementcompany rightafterit offereda renewalwitha $50 increase. They cited specific
examplesof one-bedroomapartmentswith in-unitwasher-dryersofferedin their buildingfor almost $1,000 less. ➽Bring
up yourbestqualities.Haveyoualwayspaidyourrentontime(evenduringthepandemic)? Have you been a tenant
therefora while?Makesureyoubringthosethingsup.“Landlordswillbendoverbackward to keep established, paying
tenantsin,”JohnWalkup,co-founderofthelistingssiteUrbanDigs,says.➽If youfalter, say this. Khederian suggests
somethinglike: “I amwillingtore-sign,andI enjoylivinghere,butmy researchindicatesthat the value of my apartment
haschanged;canweagreeupona pricethat reflectsa fairmarketvalueformy apartment?” ➽If that doesn’t work,
considerFort Greene.Tenantshavetheupperhandrightnowasnew rentalskeepflooding the market to significantly
reduceddemand.InJuly, 30 percentmorelistingshitthemarket and 34 percentfewerleases were signed compared with
thesametimelastyear, accordingtoanUrbanDigsreport. Neighborhoodswithhighvacancy rates have especially good
deals.Fort Green,forone,saw a 7.6 percentreductioninitsaveragerentinAugust, andBrooklyn Heights saw an average
rentreductionof6 percent,accordingtodatafromUrbanDigs.Meanwhile,inManhattan, rents have dropped by
5.7percentthismonthin BatteryParkCity and4.1percentin Chinatown.It’s easyenoughto find out which neighborhoods
currentlyhavehighvacancyratesonyourown—theinformationis readilyavailableon data sites like Miller Samuel.
➽Searchfor a leasetakeoverposted by a landlord.InJune,therewere114 percent more sublet listings than the
averageforthefirst fourmonthsof 2020 onRentHop.Peoplepostingleasetakeoversare generally looking to move the
propertyfast, sothey willoftenofferbonuses—oneBushwickapartmentcurrentlyupforgrabs in the takeover section of
ListingsProjectcomeswitha $500bonus,$150offthemonthlyrent,anda kitchenisland. ➽And a transformed
Airbnb.DorisJosovitz,a ceramicist,putherCrownHeightstwo-bedroom,whichshe’d long used as an Airbnb, on the
marketinJunefor$2,800a month.Includedinthepriceweretwobedframes(andmattresses), a pair of white-noise
machines,a fullkitchenset,anda reclaimed-woodcoffeetable.It rentedalmost immediately. ➽Request a reduction.
Onceyou’vefoundyournew place,rememberyouhavetheupperhandasa renter, soyoucan negotiate the terms of your
leaseandpossiblyevengetflexibleterms,like a six-monthlease.OneeditorlivingintheEast Village did her research to
findcomparableapartmentsintheLowerEast Sidebuildingshewasmovingintoandwas able to negotiate her rent down
from$3,200to$2,900a month.Shealsorenegotiatedhermove-indate:Herlandlordagreed to August 15 instead of the
firstofthemonth.➽Bookyourmovingcompany far in advance.Movingcompanies are inundated with business
rightnow,real-estatebrokerBeckiDanchiksays.PeterColla,a salesmanagerat SekaMoving, recommends booking at
theveryleast oneweekaheadofyourmove.“Ourindustryhasbecomereallybusy,” hesays.the one-page guide to: