Asking landlord to lower rent? ((WONDERFUL UPDATE!! post #38))

[UberMama]

We moved into this house just over two years ago. We were on a one year lease, which has expired, but they didn't bother asking us to sign a new one. While what we agreed to pay when we moved in was normal for this size of house in this area, even rental prices have dropped recently due to the economy.

Due to DH losing his job last month due to health issues (he hasn't worked since Feb though). We've had family suggesting we ask our landlords to lower our rent. I was very against this idea at first. We agreed to pay X amount, we should stick to that, right? But I even brought this up at our marriage counseling session a few weeks ago and the therapist, who also owns rental homes, agreed that we should ask and the worst that can happen is they say no. I see what everyone is saying, but I just feel so low having to ask.

I know the landlords are paying a mortgage on this house (it's a husband and wife who own a few rentals in the area). They bought this a few months before we moved in, fixed it up. I just don't want to cause them financial hardship, though I doubt they'd lower it unless they could afford to let us.

Ugh. I am just so conflicted, but we're so incredibly broke. I am applying for jobs left and right and hope to have one if not two in the next couple of weeks (seasonal retail). But even with that, rent will eat up a lot of it.

After all of this rambling, I am thinking the best thing to do is to include a letter with our next rent payment - telling them we're not doing so hot financially but we're doing our best to stick it out here, as we want to keep the kids in the school they are in and we love the house (and them, as landlords). But gently asking if they could lower it, even for just six months? I don't want to call, I get panicky on the phone at times. But how do I word the letter?

As I've had many tell me, them lowering it even a couple of hundred dollars, may make more sense for them financially - then us moving out due to not being able to afford it, and them having to wait for renters (which finding renters for this size home for what we are paying now or even $200 less would be difficult).

Thanks for reading .. Any help with the letter or thoughts on this are appreciated.

[Maluhia]

I would ask for sure, and set a specific amount (say $300 so they can come down to $200) and a length of time before the next "renegotiation" - you don't want to say you promise to go back to this rate in a year in case the rates fall lower.

Good luck!

[sunflower.mama]

I'd ask - as landlords they should have a feel for the market. If they loose you, and the market has tanked as you've stated, then not only will they have to find someone else but it will be for less rent.
The last time we were in an apt. the LLs raised the rent A LOT on 9/1/01. Guess what? A lot of us in the building broke our leases by 12/01. It just didn't make any sense to stay there and pay more than market. You don't even have a lease in force, so I'd DEF ask for a reduction. For all you know your LL's are taking home $ after paying their mortgage.

[velochic]

I am not a landlord, but my father is. I think that it would certainly not hurt to ask. I know you said that your dh is off due to health, but can you barter some work for a reduction if they are not willing to simply lower it? Perhaps you could suggest to frugally do some fixing up on the house... things that take muscle, but not much money.

[lolar2]

Make sure your DH applies for social security, too.

[SuzyLee]

I would ask, and I wouldn't put a 6 month time frame on it.

They might say no but if you are a good tenant and pay on time, I bet they lower it at least a little.

[SleeplessMommy]

Originally Posted by SuzyLee

I would ask, and I wouldn't put a 6 month time frame on it.

They might say no but if you are a good tenant and pay on time, I bet they lower it at least a little.

Don't put the 6 month time frame on it - that suggests you might try to renegotiate with them in 6 mo... just ask for lower rent

[Leta]

I'm not a landlord. BUT:

-my last job I worked for a couple who owned many, many rentals
-my neighbor/friend is a landlord
-DH and I have extensively investigated rental ownership

Bottom line: most of the time, it's not a great idea to rent out a house that you owe on. You don't get to write off the mortgage, your profit margin is usually razor thin, and it's really easy to wind up in foreclosure if the rental market changes and/or you can't find a tenant for a few months.

It's too bad that you asking for lower rent may hurt them financially, but, as callous as this might sound, that's the risk THEY took, not you. I agree with the pp who said they should have a feel for the market. I doubt they want to lose you as tenant, especially in this economy. I would write the note.

[Softmama]

I am a landlord.

I would definitely suggest you write the letter and ask. It can be hard to find tenets and really hard to find GOOD tenants. Give them the chance to keep you before you decide you can't afford it and move to something cheaper.

[ikesmom]

I'm not a landlord

I would ask in person..your panicky feeling might just work for you this time. If they see you vulnerable they might feel guilty to say no to your face. It will be hard for you though.

[liberal_chick]

Originally Posted by Softmama

I am a landlord.

I would definitely suggest you write the letter and ask. It can be hard to find tenets and really hard to find GOOD tenants. Give them the chance to keep you before you decide you can't afford it and move to something cheaper.

ITA. We have some renters in our old house (we couldn't get it to sell) and they are wonderful. I'd certainly prefer to lower the rent by $100-200 than risk having to carry all $950 by ourselves (which we couldn't do, not even for a few months).

[Ola_]

I agree to asking in person - your nervousness will work to your advantage here, and it is harder to say no in person. I wouldn't put a time limit on it, just ask for the reduction and see what they say.

[Chloe&Coop'sMom]

I think its worth asking. Three weeks ago, our landlord sprung it on us that she was putting the house on the market... that week. We had already paid October's rent and it has turned out to be a huge PITA to deal with realtors, showings and now an open house. We emailed and asked for a reduced rental price because it is time consuming for us and a major inconvience with two kiddos (not to mention that I'm quite pregnant...). Our landlord just ignored our request (it was in an email with some other stuff about showings) so we are giving notice and moving out by the end of the month. Hopefully your request goes better than ours.

[UberMama]

Thank you all!

We never see them in person unless we have an issue with the house. So, last year, we saw them once (when the dryer went out and they had to bring us a new one). I thought about bartering, but they are major DIYers. They even got upset when we called a plumber to snake out our kitchen sink (terribly clogged up from the previous renters dumping grease down the drain), since we snaked it and got no where - but our LLs (which we didn't know this) are plumbers and could have done it for cheaper. They just ask that we contact them for anything and they will do whatever we want.

Anyway, thanks again. I think they will reply if we write them. I just feel ill doing this but ah, I have to suck it up, lol.

[zebra15]

I dont know about the portland market but in phoenix rentals are literally a dime a dozen so if they cant lower the rent I'm sure you can find a home in the same school district in your price range. I'm at a point in my life where I dont feel guilty about other's financial issues. My checkbook is what I need to be concerned about and I need to make the best choices for my family. Your LL may not lower the rent, if they dont, you will need to decide if you want to stay or if you want to start looking for a less expensive place to live.

[Fuamami]

We're landlords, and rental prices have dropped in our area since our renters moved in, too. If they start even considering moving out, I'm more than willing to drop the rent. It's 99% likely I'll have to drop it to attract new renters, and meanwhile I'm out the rent and the expense of advertising.

[luv-my-boys]

I dont mean to seems callous or snarky, but right now your priority has to be your family. Your situation has changed and honestly if you simply cant afford your current rent you cant afford it. Digging yourself in debt isnt a good choice just to be *nice* to your LL. They may be good landlords but Im sure they rather have someone who can pay rent then suddenly be faced with a tenant who cant, kwim?

I would write the letter. Simply stating that your husband is no longer working and although you appreciate that they have been deligent LL to you you simply can not afford your rent and suggest a amt you could. They can do either reduce or re rent to another couple. If you were good tenants honestly it may be easier just to keep you, good tenants are hard to find and the cost of floating the house until they get another tenant might not be feasible to them. good luck

[ASusan]

As a (former) landlord, I say go ahead and ask. I would much rather have a lower rent from good tenants than go through the hassle of getting new tenants. (although if this is the first time they've rented, they may not realize how much a PITA turnover is)

And it can't hurt to preface your letter with a statement about how much you like the house or something similar.

[UberMama]

Originally Posted by zebra15

I dont know about the portland market but in phoenix rentals are literally a dime a dozen so if they cant lower the rent I'm sure you can find a home in the same school district in your price range. I'm at a point in my life where I dont feel guilty about other's financial issues. My checkbook is what I need to be concerned about and I need to make the best choices for my family. Your LL may not lower the rent, if they dont, you will need to decide if you want to stay or if you want to start looking for a less expensive place to live.

I'm not trying to get them to feel sorry for me. It was just suggested, as I've said, to ask them to lower our rent a bit. I am still not keen on the idea. Why make them suffer (well, maybe they won't, it's hard to say) because of our situation? :/ Yes, my family comes first, but moving isn't the easiest option for us either (see below).

Originally Posted by luv-my-boys

I dont mean to seems callous or snarky, but right now your priority has to be your family. Your situation has changed and honestly if you simply cant afford your current rent you cant afford it. Digging yourself in debt isnt a good choice just to be *nice* to your LL. They may be good landlords but Im sure they rather have someone who can pay rent then suddenly be faced with a tenant who cant, kwim?

I'm not trying to be nice to our LL, I was wanting to abide by what we had agreed upon initially. And just moving isn't the easiest option by far as it'd cost us easily 2-3k (first and last months rent on new place, deposits, etc.). And then we'd only be moving to a place that'd save us $200 a month or so probably. So it'd take around a year to in a way make up the moving costs, if that makes sense. Plus, we don't have 2-3k to move anyway.

Rent comes first for us. We had never been late on a bill of any kind (ever!), etc. until recently. We had never overdrafted our bank acct either until.. this year. I am doing what I can, rent has always been on time and will continue to be on time. But obviously I am doing what I can now to make this work, until I figure out a better option. In the end, we may be moving in with my ILs, it looks like.

I was just tossing out an idea that had been given to me time and time again. Sorry, but I am a bit sensitive as I have a LOT on my shoulders right now. With a very sick DH and three kids in kindergarten on top of the first tri pregnancy exhaustion, I am tired. I apologize but it's the truth.

Thanks for the suggestions. And don't worry, I won't turn into a non-paying renter who has to be evicted. :/

[Thystle]

Originally Posted by ASusan

As a (former) landlord, I say go ahead and ask. I would much rather have a lower rent from good tenants than go through the hassle of getting new tenants. (although if this is the first time they've rented, they may not realize how much a PITA turnover is)

And it can't hurt to preface your letter with a statement about how much you like the house or something similar.

Do you know if this is the first time they have rented out a place?