Category: Renewals and Negotiation Tips

5 Things To Do If You’re Late or Can’t Pay Rent

August 29th, 2023

As rents continue to rise across the country, making full and timely payments can be challenging. Life happens, and certain circumstances may impact your ability to pay. Maybe a roommate left, or you lost your job, or had an unexpected expense. If you find yourself in a situation where you can’t pay rent in full or on time, here are a few things you should do:

1. Know Your Rights.

Many cities have laws and regulations about late rent payments and fees. In New York City, for example, the maximum late fee a landlord can charge is $50 or 5% of the rent – whichever is less. In places without regulations, you’ll want to reference your lease agreement and figure out how the landlord handles late payments. If the policy is straightforward, at least you can determine what the penalties should be and make sure they are being followed by management.

2. Communicate with your landlord right away.

This can be intimidating for many renters, especially if your relationship with your landlord is tense. But communication is the best policy, and it allows the landlord to plan and be in the know about when they can expect payment. You could also work with them on some sort of payment plan or temporary reduction. On openigloo, renters have shared reviews about their interactions with landlords about late payments. Renters shared how their landlords were flexible about reduced or deferred payments due to economic stress, especially during the pandemic. The bottom line is, don’t keep your landlord in the dark – they can’t accommodate or be helpful if they don’t know what’s happening. Here are some email templates to help get the conversation started.

When rent is late, but you’ll be able to make full payment later:

Hi XYZ,

I wanted to let you know that unfortunately my rent payment will be delayed this month. {put a reason for the delay: i.e. I had a reduction in hours at work, there was a delayed paycheck from my boss, my roommate has left etc.}.

I will be able to complete the payment by {month, day.}. In the meantime, I’ve made a partial payment of $xxx and understand there is a late fee of $XXXX.

Thanks for your understanding and apologies for the inconvenience.

Best,
Renter

3. Revise Your Budget.

Life happens. You may no longer be able to afford your apartment. This may require you to reflect on your income and expenses and make reductions where possible. A standard rule of thumb is that you shouldn’t spend more than 30% of your salary on rent. Of course, in high-rent cities like New York, this can be a challenge. Do some budgeting and come up with a new number of what you can reasonably afford to rent. Start researching other housing options and communicate this to your landlord.

Explore Listings

When you won’t be able to make ongoing full payments and need to move:

Hi XYZ,

I wanted to let you know that unfortunately I am unable to make my rent payment this month. {put a reason: i.e. due to extenuating circumstances like illness, job loss, family issues etc.}

It will be difficult for me to catch up on this missed month and was hoping we can negotiate some payment plan to put me back in good standing. Additionally, my new budget for an apartment is $XXXX. If you have an availability in this price range, perhaps I can transfer units.

I want to make sure I don’t continue to fall behind so I wanted to let you know my situation as soon as possible.

Thanks for your consideration and looking forward to working together on a solution.

Best,
Renter

4. Explore community resources and programs that can help you with late rent payments

Many cities have tenant support programs and community organizations that can help protect tenants against eviction. Some of these programs may offer loans or grants to keep you housed.

5. Explore tech solutions.

Various platforms are working to help renters catch up on their rent, divide payments, and even get rewarded for paying rent on time. At openigloo, we’re helping connect renters with great landlords. Tenants can find, research, apply, pay, and sign for their chosen apartment. Our network of landlords are well-reviewed and often applauded for their flexibility. At openigloo, we strive to support each and every renter with a personalized customer experience. That includes coming up with solutions when things don’t go according to plan.

Visit openigloo

Not being able to pay rent in full or on time is extremely stressful – especially since every landlord and building operates differently. But a good place to start is to know your rights, communicate, revise your budget, and explore community and tech tools that can help.

If you’ve had a communicative and collaborative landlord, be sure to share a review on openigloo. It’s anonymous and could really help the next renter with their search.

Explore more email templates
6 Tips To Negotiate Your Rent

July 11th, 2022

In June 2022, average Manhattan rents crossed $5000 a month, while rents in other boroughs also reached all-time highs. Vacancy rates are also low, leaving many renters scrambling to secure an apartment. But just because the market is competitive doesn’t mean you shouldn’t try to negotiate.

If you’re planning to renew or sign a new lease, here are six tips for scoring the best deals.

1. It’s a tough market for renters. So tread carefully.

If you are looking to move into a new apartment, you don’t have as much leverage as someone looking to renew. Are there a lot of applications? Is this a very desired apartment in a popular neighborhood? If the answer is yes to these questions, then negotiating is probably not in the cards for you.

If you want to renew your current lease, you have a little more leverage because landlords should prefer to keep good-standing tenants rather than clean, paint, repair, and advertise an empty unit. If you received a big discount due to the pandemic, expect a steep increase. Read more below to help negotiate that renewal.

2. Be clear about what you want and why you want it.

Before entering a negotiation, look at prices in your desired neighborhood and come prepared to defend the number you are offering to pay. Walk your landlord through your thinking process of how you arrived at that price. Mention nearby apartments, as well as any accompanying amenities, when explaining why you want a reduction.

Check out openigloo’s rent calculator to see what the median prices are in your desired neighborhood. Find some sample email templates here as well to get the conversation started.

Check out rent calculator

3. Think about anything else you might be able to offer.

Proposing a lease longer than 12 months may also make landlords more willing to accept a lower offer. Many landlords would prefer to guarantee rent for longer. If you’re at a point in your life where you can commit to an apartment for two years, definitely use that as a negotiation tool.

4. Once you secure a concession from your landlord, get it on paper.

Every landlord has a different preferred method of communication. Some like phone calls, while others are partial to email and text. Regardless of the platform, you use to negotiate, it’s important to get a written record of any deal you agreed on.

If you do have conversations by phone, make sure you summarize that phone call in a follow-up email after. Get those details confirmed and signed in a document.

5. Rent isn’t the only thing you can negotiate.

While some landlords might be unwilling to negotiate on rent, that doesn’t mean they won’t make concessions. You can ask your landlord to cover a utility you normally pay for each month or if they will replace old appliances with newer versions.

Even if you are happy with the rent you pay and don’t have any issues with your apartment, that doesn’t mean you can’t ask for something. You could ask your landlord for a rent credit in exchange for a referral. In many cases, landlords might be happy to throw a $500 credit your way if you bring them a new lease. Don’t be afraid to ask or get creative!

Start your anonymous reviews

6. Be ready to walk away.

If you think a landlord’s asking price for an apartment is too high, don’t overpay. Do your research and do your due diligence on prices and availability in the area.

Have an experience to share? Submit an anonymous review about your building on openigloo, and help a future renter find (or avoid) their next apartment!
3 Email Templates For When You Want to Negotiate Your Rent

July 1st, 2022
The last of the COVID-19 renewals are coming up, and some renters are still getting stuck with big rent increases, sometimes upward of 50%. At openigloo, we get a lot of messages from renters asking us if they should renew and if the rent increases are “fair”. While discussing rent negotiation with your landlord may seem like a waste of time, our position is that you don’t get what you don’t ask for. If you have a rent-stabilized apartment, you’re in luck – this doesn’t apply to you as your rent increases are set by the New York Guidelines Board every year.

Explore listings in buildings with rent-stabilized units

For market-rate tenants, here are some email templates to help you get the rent negotiations started!

Responding to a steep increase (but you’d prefer to stay)

MANY New Yorkers have reported getting priced out of their apartments. If you receive a steep renewal, but you really would like to stay, try something like this:
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Hi XYZ,

Thanks for passing over the renewal. I was surprised by this number as similar # bedrooms in the area are renting for around $$$$. I understand the market has changed since last year, but given my good standing as a tenant, I’d love to meet somewhere in the middle. Could we make $$$$ work?

Thanks for your consideration.
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Remember, always give them a specific number during rent negotiation (but not the maximum you’d be willing to spend). Leave a little wiggle room for them to come back with another offer. It also helps to point out that you’ve been a great tenant and back up your number with research. You can check openigloo’s Listings feature to see what similar units are renting for in your neighborhood.

Explore listings on openigloo

When the landlord raises the rent above 5% without the appropriate notice (and you want to stay)

In New York, landlords must give between 30-90 days notice (depending on how long you’ve lived there) if they want to increase your rent by more than 5% or not renew your lease. If you have a 1-year lease, they need to give at least 60 days’ notice. Many renters have reached out to us asking what they can do if a landlord breaks this rule. Try this:
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Hi XYZ,

Thanks for passing over the renewal. However, I was expecting the increase to be less than 5%, since we’ve passed the XX day notice window. I’d love to stay, but I’m hoping we can agree on a renewal of $$$$ instead.

Thanks.
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If you want to stay in the apartment, try to politely point out that you are aware of the rules and give them an opportunity to fix their mistake before escalating.

You make the first move with a renewal proposal

Perhaps your lease is expiring in a few months, and you want to start planning. You can make the first move, and you have even more leverage if your lease is expiring in a slow season (Winter). But if you’re not in a rush to get an answer, you can always wait for them to reach out first.
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Hi XYZ,

I hope all is well. I wanted to send a note as my lease is expiring in # months and I’d love to get some clarity on the renewal. I’ve enjoyed my time in this apartment and would love to stay another # years. Given my good standing as a tenant, could we renew at the same rate? Happy to sign a renewal now, if we come to an agreement.

Thanks for your consideration.
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It doesn’t hurt to try and ask for a 0% increase and see what they say. Worst case, they come back with a “No” or a different number. If you have a market-rate apartment and are negotiating early, keep things cordial – you may risk the landlord not renewing all together during the rent negotiation.

Of course, some landlords won’t budge with the rent renewals. In this case, you have to make a personal decision on whether you can tolerate the increase and compare it against your cost of moving. Whether your renewal went smoothly or not as planned, be sure to share an anonymous review on openigloo and help the next renter that considers your building and landlord.
3 Things You Should Check Before Signing a Lease

June 1st, 2021

Signing a lease is stressful. Maybe you’re anxious to get settled in, or you want to close it before someone else puts in a stronger application. Regardless of your situation, rushing the lease signing process could be a costly mistake. We all know not to judge a book by its cover. It’s crucial to get the inside scoop on your building and landlord before signing the dotted line.

At openigloo, we’ve received thousands of reviews from New Yorkers who are sharing their experiences about renting in their buildings. Some expressed regret about getting reeled in by an apartment’s new renovation only to learn the landlord was a tad overbearing: “If you move into this apartment be aware of how utterly inappropriate and unprofessional the landlord is. And you may think to yourself that you really love this apartment and that it will be fine and that you’ll just avoid them at all costs. But you can’t.”

Another renter was disappointed to learn that their building was the constant target of package theft only after they moved in: “Don’t be fooled by the security cameras, as they do not work. Sadly, me and my partner only learned of this after we had some packages stolen. When we reached out to management, they indicated that the cameras had not worked in some time. I guess the criminals are aware of this.”

Read and share reviews

Here are 3 things you should check before signing your next lease.

1. Talk to Other Tenants or Read Building Reviews

No one knows what it’s like to live in a building better than other tenants. If you’re seeing an apartment in person, try and talk to some of the neighbors – or even better, the person who currently occupies the unit you like. They can share invaluable insight about the rent, the unit, how the building is managed, and why they’re leaving. If you don’t come across any neighbors, you can also read reviews online about the building and landlord. On openigloo, tenants are sharing detailed reviews and answering questions like how the building ranks in categories like cleanliness, heat, water pressure, and more. Renters are also sharing detailed comments about the pros and cons of their rental experiences. If you can’t find any reviews for the building you’re interested in, check other buildings in the landlord’s portfolio. This will give you a sense of how they manage their other buildings.

2. Check City Data on the Building & Landlord

New York City has dozens of departments that collect data on buildings and landlords. Department of Buildings, Department of Finance, Housing Preservation & Development, The Division of Housing and Community Renewal, and the list goes on. By checking city sources, you can learn who your landlord is, and how many buildings they own if they have a history of building violations, bedbugs, litigation, and eviction.

To make this research process a little easier, openigloo has compiled all this data into one place. Just type any address into the openigloo app, and you can get a snapshot of all the city data that’s available on that property and landlord. One renter shared that accessing this data helped them avoid a nightmare building: “I was about to sign a lease and then found out the apartments had lead paint violations that the landlord didn’t disclose”.

Write a review

3. Read the Fine Print

Never sign your lease without reading it all. Even though leases can be long, it’s vital to ensure they stay within housing laws. A renter wrote us recently to share some of the clauses their landlord included in the lease to see if it was typical. The landlord wanted the tenant to pay for professional cleaning of the apartment 2 times per month. Additionally, the lease stipulated that the landlord could conduct inspections every 4 months and have access to the apartment 3 months before the lease termination to begin showing the unit to other tenants. While there is nothing illegal about these clauses, it’s far from typical. It could result in a contentious relationship with your landlord if you were to sign without being fully aware of their expectations. If there is something in your lease that you’re unsure about, you can ask the landlord, or the broker, or leverage various tenant hotlines in NYC, such as the Met Council on Housing.

Renting in NYC is not easy and signing a lease is stressful. Renting are big financial commitment, so you should have as much information as possible before signing. Be sure to check other tenant references, access available city data, and ensure your lease is fair and reasonable.

Have a rental experience to share? Submit an anonymous review about your building on openigloo, and help a future renter find (or avoid) their next apartment!