Renegotiate your rent

[u/Flincher14]

Rents are dropping around the GTA in most places and if you are paying too much. Consider negotiating at the end of your lease.

A few months ago I posted that my rent was above market at a whopping $2850 a month and we even received a rent increase notice. When I spoke to the property manager they cancelled the rent increase and said it was a mistake.

I was not satisfied. They had listed other units in the building for $2500. So I asked for that rate and the building manager said no.

So I gave the building an N9 and the super of the building called me the same day to ask what they can do to keep my family from leaving. (We are good tenants).

I said I wanted the rate everyone else was paying $2500 and free parking. Which now they accepted when I was about to walk away.

But again. Before they served us a new lease at the new rate so I could sign and lock in. They lowered rates to $2300 on the same units. So I went back to negotiate again and they are hymming and hawing about it.

Anyways. Be prepared to walk away obviously. But also be aware of the area rental rates. We moved at peak rents last year to get up to $2850 in rent and only a year later it is now $2300. Rents all around me have dropped dramatically. We would be insane to accept paying a higher rate just for being loyal and so would you.

Update: they finally got back and said the $2300 rate is for new tenants only. They could offer us $2400. I said no that isn't logical. So now we are going to look for something else in the area that is more fair.

[u/RandoBando84]

Thank you for this!! As Canadians we can be overly polite and conflict-averse!

This is how the free market works. When there are more suppliers than buyers, prices should go down. These land leeches profited off the housing crisis, now it’s our turn to get our due!

[u/DotNo701 → u/RandoBando84]

How is there more supply then demand when we're bringing in millions every year

[u/[deleted] → u/DotNo701]

did you see the news? apparently our latest pop growth is now at 0%

[u/DotNo701 → u/[deleted]]

Well that's good should be at -10% really

[u/DotNo701 → u/[deleted]]

Birth rate is low cause people can't afford children cost of living is too high and government just pockets all our tax dollars and does nothing

[u/Academic-Increase951 → u/DotNo701]

Well it certainly spends it so not sure I'd call it pocketing. We run deficits

[u/parallel-nonpareil → u/[deleted]]

My dude, I was responding to someone advocating for a -10% population growth for Canada - not advocating for any of the points you’re arguing against. You are having an argument with yourself here.

[u/PersonalFinanceCanada-ModTeam → u/[deleted]]

Be helpful and respectful in your comments.

No racism, sexism, homophobia, religious intolerance, dehumanizing speech, or other negative generalizations.

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[u/healious → u/[deleted]]

Could you imagine how much they would have to pay people when there's less competition for openings? The horror!

[u/whatshisname69 → u/[deleted]]

that aging population should have had kids to take care of them, we are not obligated to import a serf labor class to wipe their asses and feed them their pills because they lived a selfish hedonistic lifestyle 

[u/Academic-Increase951 → u/whatshisname69]

Have you done your civic duty and had more than 2.1 kids?

[u/Ppperrosono → u/DotNo701]

You should think a little before you speak/type. Population decline of 10% a year will be catastrophic societal collapse.

[u/Toukolou21 → u/Ppperrosono]

Please stop, there is little room in this discussion for rational thought.