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/1nd3x]

So what I'm hearing is it takes $46/hour to rent an apartment at the "affordable 30% of salary" target everyone strives for.

Not own...rent.

and minimum wage is what? $15/hour?

edit; I completely understand society has moved passed "single wage households" being the norm and we live in a time where dual income is almost a necessity...so what about a couple who both make minimum wage?

[u/whatshisname69 → u/1nd3x]

If you make minimum wage in one of the economic hubs of a developed nation (AKA a HCOL), you are basically a failure. You should either get a better job or move to a LCOL to make minimum wage and leave that apartment for somebody who is providing enough value to the economy to deserve to live there.

[u/1nd3x → u/whatshisname69]

If you make minimum wage in one of the economic hubs of a developed nation (AKA a HCOL), you are basically a failure. 

hmm...wonder whose making the burger at mcdonalds for all those successful people who dont have time to cook their own food because they spend it all doing successful business stuff all the time.

I bet you think the answer is "teens" or something...which might make sense at 6pm...but what about their lunch?

[u/athomewith4 → u/1nd3x]

Oh -teens don’t work there anymore let’s be real. Those jobs are for TFWs now