It Really Works!

During this time of horrible economic downturn, I thought I would look for a silver lining through rent reduction. Surely, I reasoned, with property values dropping like flies, I could get a humble rent decrease?

So I did some research and read this article in the WSJ, which came complete with a form letter the author used to reduce her rent.

Inspired, I decided to write my own letter loosely based on hers:

To Whom It May Concern:

We are writing in regards to the impending expiration of our lease at [REDACTED, Oakland, CA].

On June 18, 2008, we, M. and C. moved into the aforementioned property. Our one year lease term expires on June 30, 2009, at which point we would like to extend the lease under a month-to-month tenancy as provided in the terms of the lease.

However, given the ongoing decline in property values in the Bay Area, instead of continuing our tenancy at the current rent of $1750 per month, we request that our rent be reduced to $1700 per month, effective July 1, 2009.

We have confirmed that several units nearly identical to ours are being offered for rent in the Oakland area below $1700 per month and thus feel it is reasonable for our rent to be lowered to $1700 per month, especially given our flawless rental history. [Of course I didn't mention that identical units in our complex were asking for $1850 a month on Craigslist!]

We look forward to hearing from you shortly.

Sincerely,
M. and C.

After a week of waiting, the property manager called to say, "Yes." Yes! Sweet sweet victory--yes! I've been renting my whole life since moving out of the freshman dorms and for once, for just this ONCE, the rent is going DOWNward.

Nevermind that the actual amount I saved is not that much...it's about the simple joy of getting a break (must be the cheap Asian in me).

Try it out for yourself...let me know if it works for you too!