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Old 08-18-2020, 09:41 AM
 
4 posts, read 815 times
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I live in a high rise condo in Rincon Hill area. Rents in the building have gone down by 20%. We are not able to use any amenities for last 5 months. I understand its a pandemic and has nothing to do for the Landlord. However I think they may be saving some HoA fees due to amenity usage reduction. Not really sure.

Have any of you negotiated rent with landlord while the lease is in progress? Just curious if I should do too.
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Old 08-18-2020, 10:36 AM
 
481 posts, read 725,760 times
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I have not done it, but I could see it as possible if you offer something like locking in another 12 months at the renegotiated price. The landlord might prefer to have some certainty of longevity of the rental income over having it at a higher rate for a shorter period.
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Old 08-18-2020, 10:56 AM
 
Location: Bay Area
1,357 posts, read 847,355 times
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My assumption is bldg you live in is not one covered under the rent control ordnance. I see nothing wrong with trying to negotiate a rent reduction. From what I have read in the newspaper and seen on the local news, rents are down 11 to 12% in SF. If you could get a new lease one with a 10 to 15% rent reduction it might work outr for both parties, considering that you stated rents are down 20% in your bldg
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Old 08-18-2020, 11:28 AM
 
Location: Richmond, CA
880 posts, read 703,423 times
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Go for it. Rents in buildings such as the one you describe are falling more rapidly than the average. How much time do you have left on your lease? A friend of mine (on the Peninsula) negotiated a change in rent and the property management firm gave him a refund to offset lost use of amenities. However, his lease was wrapping up, so he had strong negotiating power.
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Old 08-18-2020, 12:16 PM
 
4 posts, read 815 times
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Quote:
Originally Posted by davdaven View Post
Go for it. Rents in buildings such as the one you describe are falling more rapidly than the average. How much time do you have left on your lease? A friend of mine (on the Peninsula) negotiated a change in rent and the property management firm gave him a refund to offset lost use of amenities. However, his lease was wrapping up, so he had strong negotiating power.

Did your friend negotiate by renewing the lease?

I have 3 months left on the lease and no plans of renewing at this high price or lesser price. Rents are super cheap in other buildings and other areas. They are not as fancy but at the current prices, works better for my circumstance i.e., having own studio instead of roommate.
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Old 08-18-2020, 12:20 PM
 
4 posts, read 815 times
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Quote:
Originally Posted by rca215 View Post
I have not done it, but I could see it as possible if you offer something like locking in another 12 months at the renegotiated price. The landlord might prefer to have some certainty of longevity of the rental income over having it at a higher rate for a shorter period.
I have no intentions to renew the lease yet. Is it unfair on my part to ask for price reduction for the remaining period? I have been putting off asking this for last few months since I have been thinking its unfair to Landlord. I have only 2.5 months of time unpaid on lease. I pay a lot of rent if you know the high rises in Rincon Hill.
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Old 08-18-2020, 03:09 PM
 
119 posts, read 100,028 times
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Just ask. No need to offer to lock in a longer term. If they ask for a longer term tell them, "given the uncertainly of the pandemic, election, and fires, you're not comfortable with a new term". Say something nice, like you appreciate how responsive they are to blah blah blah. Tell them how much you want to pay, instead of asking if they are willing to reduce the rent and by how much. Pick a number that's more than you want and see what they say. If you want a 10% reduction and ask for 10% you will get 5%, so ask for 20%. I got my rent reduced, it took me 5 minutes via text. If they say they can't budge, say "thank you for considering my request. I understand the position you're in and again I appreciate your responsiveness to blah, blah, blah". Then find a new place to live.
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Old 08-18-2020, 03:35 PM
 
Location: Richmond, CA
880 posts, read 703,423 times
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Quote:
Originally Posted by ilovesanfrancisco View Post
Did your friend negotiate by renewing the lease?

I have 3 months left on the lease and no plans of renewing at this high price or lesser price. Rents are super cheap in other buildings and other areas. They are not as fancy but at the current prices, works better for my circumstance i.e., having own studio instead of roommate.
Building management wanted him to sign a new lease, and he wanted to go month-to-month. They reached an agreement where he can move out after a couple month's notice. In exchange, rent went down a little but not as much as it would have with a new lease. The management company threw in a "refund" for unused amenities so far to keep him from walking altogether, as there is no shortage of cheaper places right now. This worked nicely since he likes the building and location and wasn't inclined to move right away. Compare to your situation, where there is a glut of higher end buildings to choose from--no doubt with low rents and signing bonuses running through the end of the year--and you have the desire to relocate.
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Old 08-19-2020, 02:59 PM
 
Location: Richmond, CA
880 posts, read 703,423 times
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This may be of interest to the OP, especially the quote from J.J. Panzer: https://www.sfchronicle.com/bayarea/...n-15493882.php
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Old 08-19-2020, 04:55 PM
 
481 posts, read 725,760 times
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Quote:
Originally Posted by ilovesanfrancisco View Post
I have no intentions to renew the lease yet. Is it unfair on my part to ask for price reduction for the remaining period? I have been putting off asking this for last few months since I have been thinking its unfair to Landlord. I have only 2.5 months of time unpaid on lease. I pay a lot of rent if you know the high rises in Rincon Hill.
I would think you have a very low chance of getting a rent reduction if you plan to leave in just a couple months, but I could be wrong.

I'm also a bit paranoid myself and would worry that it may result in a pissed off landlord who searches for reasons to keep the security deposit in retaliation (but that also goes to show how much trust I have in most landlords).
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