8 Nov 2016

Rent Reduction


So We did this thing not long ago and didn't think we would get the outcome we have. We have been living in our apartment for 2 years and have been paying $425 per week as rent. Over the last year when people ask about our place and rental coat in the city while also comparing to others who live around us we often hear comments like 'oh, that's a lot' or 'you need to move where it's cheaper', 'you need to ask for a rent reduction'. So we did.

E and I sat down and looked at the facts, example letters while slowly putting ours together.

So this is what we wrote.
Dear (Rental People and Owner)

We are writing today in hopes to discuss the possibility of reducing our weekly rent. According to the CoreLogic June Rent Review weekly rent across capital cities has fallen by -0.4% in June 2016 and “It is anticipated that the weakness in the rental market will persist and where on an annual basis, we will see rents fall even further over coming months."

We've confirmed that due to the recent increase of units available surrounding us there are unit nearly identical to ours renting at around $375 a week with similar or more features. We ask that our lease, at the least, should match that. With the lease renewal, our earnest request to reduce the rent by $50 per week. We are already paying an amount of $425 p.w. and request we make a settlement at $375 p.m. in the coming lease agreement.

My husband and I had been good tenants, looking after the place and paying the rent on time, our punctuality in the payment of rent amount had never been an issue.

We look forward to continuing the conversation and hearing from you shortly.

Thanking you in anticipation
We sent it with a sinking feeling in our stomach, realising that if we don't get what we have asked for the reality of having to love is to real! 

Not long before I thought we need to look at new rentals, did we receive a confirmation email set telling at $385 per week. That is still a saving of $40 per week which totals to $2080 a year! 

I'm so glad we had the guts to ask because we have extra to put away for bills or pleasure.

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