If there’s one thing that the majority of people in this country agree on, it’s the housing market. The cost of living has risen exponentially and many people simply can’t afford to live, especially if they’re renting an apartment. Unfortunately, not every state has rent control laws, meaning renters can suddenly and without much fuss find themselves struggling to pay their rent.
To counteract this, Moriah Michelle, a former property manager and now content creator, has revealed a genius trick for any renter faced with a sudden price increase that may give them some negotiating leeway.
She told us a clever trick to renegotiate the rent in case of an increase.
“This is for the people who rent apartments. I worked in property management a few years ago and here’s an insider tip,” Michelle began her video.
Michelle further pointed out that while most real estate companies have the ability to increase rent, they also have the ability to adjust the price based on a number of other comparative rates they have access to.
She advised tenants not to talk to their agent or landlord about a possible reduction in a rent increase because they would most likely tell them that they do not have the authority to do so.
Instead, Michelle encouraged tenants to contact the property manager and company directly. “You can go to the computer and there’s a screen that pops up with all the prices and comparison prices,” she said, recalling her time as a property manager and the tools she had at her disposal to help tenants.
She claimed that there was a small box at the bottom of a property manager’s computer screen that told him how much he could beat a tenant’s renewable price.
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Michelle prefaced her advice by saying that certain property management companies have different protocols, but there should always be that little box with the different rates.
“So it could be $300, $400, $500. That’s the amount I can set your renewal price at. Let’s say your current rent is $1500 and your renewal price is $1750. Then I go and look in the box… it says $150. I can lower the renewal price to $150,” Michelle demonstrated.
More Americans than ever before cannot afford their rent.
It seems that Michelle’s trick could help tenants who are struggling to pay their rent or are facing astronomical renewal rates. Unfortunately, there are few states in this country that have adequate rent control laws.
Currently, only six states – California, Maryland, New Jersey, New York, Oregon, Minnesota and the District of Columbia – have rent controls.
To make matters worse, millions of Americans are struggling with unaffordable rent increases. According to data from the Harvard Joint Center for Housing Studies released in January 2024, 22.4 million renter households – or half of all renters nationwide – spent more than 30% of their income on rent in 2022. The number of affordable apartments – with rents under $600 – also fell that year, to 7.2 million, 2.1 million fewer than a decade earlier.
It is becoming increasingly difficult for people to rely on affordable housing and low rents, and in recent years the situation has become even worse.
So if there is a little trick or tip that tenants can use to not only avoid being taken advantage of, but also avoid spending unnecessary amounts of money just to have a roof over their heads, they should definitely use it.
Nia Tipton is a Chicago-based entertainment, news and lifestyle writer whose work explores current issues and experiences.
