RoxanneBut there’s a silver lining that could lower your monthly costs, and it comes in the form of a letter you can write to your landlord.
With the entire world at a virtual standstill due to COVID-19, most people seem to be in the same boat when it comes to income. Jobs have been lost, pay has been reduced, and monthly budgets have been slashed.
All of these negative effects of the coronavirus could work in your favor when dealing with your landlord, though. And if you play your cards right, you could lower your rent now and in the future by writing a simple letter.
A Letter to the Landlord to Lower Your Rent
As its name suggests, the purpose of this letter is to convince your landlord to reduce your rent. How will you convey your argument? By listing the reasons why your rent should be lower.
When’s the best time to write this letter? It usually comes a month or two before your lease is about to end, as this is when you’re often required to tell your landlord your intentions. Since they’ll probably want you to renew your lease, you can use the letter to lower rent to negotiate before signing anything.
While writing this letter is often done near the end of a lease, the coronavirus scare allows you to write it sooner due to factors like job loss and a loss of income. Since most sectors of the economy have been impacted, arguing for a more affordable rent could seem perfectly reasonable.
Tips to Bolster Your Rent-Reducing Argument
Before writing your letter to the landlord, do your research. Be sure to include every relevant detail of your situation as well.
Discussing issues with your income and job outlook may work in your favor. Using other factors, however, may help you even more.
For instance, ask your neighbors what they’re paying for rent. Look online to see comparable rents in your area. Are they lower? If so, you can use that to convince your landlord to reduce your monthly payment.
Vacancies are also relevant. If real estate isn’t moving in your area, your landlord may want to keep you in the property, even if it’s at a lower rate, versus putting it back on the market.
Use This Rent-Reducing Letter to Landlord Template
Plug in your information in the template below, proofread it, and send it off to your landlord. This simple act could give you more wiggle room in your budget.
[Your name]
[Your address]
[Your phone number]
[Your email address][Landlord or property management’s name]
[Address]Re: Request to Lower Monthly Rent Payment
Dear [Name of landlord or property manager],
I am writing in reference to my lease at [Your address].
I moved into the property on [The date your lease started]. My lease ends on [The date your lease ends].
I noticed that [write about lower rents for comparable units in the area, vacancy rates, or cheaper deals offered by similar complexes].
For these reasons, I am asking that you reduce my rent from [what you currently pay per month] to [what you want to pay per month].
I enjoy living in the property, but for the reasons listed above and [describe any losses in income or job loss due to the recent coronavirus impact], I feel that it would be unreasonable or difficult for me to continue paying the current rate.
I have [list ways in which you’ve been a good tenant, such as paying rent on time, keeping the unit clean, etc.] I hope to continue living here should you accept my offer.
From what I understand, finding new tenants and running background checks can be quite costly and could become even more difficult in this current environment. To help you eliminate these expenses, I am willing to [sign a longer lease, pay a higher security deposit, etc.] if you agree to reduce my rent now.
If you have any suggestions on how we can come to an agreement, please let me know. I love my unit, enjoy dealing with you as my landlord, and would love to stay right where I am instead of moving somewhere more affordable.
Please let me know what you think. If you’d like, we could discuss this in person at your earliest convenience.
Sincerely,
[Your name]
