I’ll probably dig into this in more detail later, but I don’t understand how rent is determined in downtown area apartment buildings that are run by companies rather than individual property managers. We moved into our apartment in downtown Baltimore on August 11th. At the time, the cheapest way to do it was a 14 month lease (we wanted to do 15, but it was more expensivethe, for whatever reason). The unit two doors down is 100 sq ft larger, and can be moved into tomorrow for a 15 month period at a monthly cost that’s $100 cheaper than what we are paying. We will soon have neighbors who are paying less than us per month to get essentially the same unit as us but with a den added on. A unit we considered that was similarly priced to ours is now $500 cheaper per month than it was a month ago. I was perfectly fine with what we signed on for when we did it, but it’s a bit troubling to see prices so significantly cheaper just a month later. It seems unfair that I have to pay as much as $6,500 more per year than someone who just moved into a similar unit a month later than me. Is this normal?
$500 cheaper per month? Dear God, I don't want to know what your rent is. No way would I want to live in a big city if those are the rent prices.
In talking to some folks at work - who negotiate for a living - I have been very surprised how unwilling to negotiate these corporate-managed buildings are, at least in Houston.
If they are in position to give the same apt away for a few hundred less in a few weeks, they'll probably take a signed contract at the same price and collect for the month instead of it being unrented. You just might have to do the math for them and make sure you are talking to the boss.
Do both units offer the same amenities? Recently renovated/upgraded?(New windows, floors, showers, etc)
They are renting 500 square feet studios near me for $2,000 a month and I don’t exactly live in Beverly Hills.
Why is the demand higher in summer? Leases are mostly 12-15 month commitments. How can 1 month later be THAT different, regardless of supply and demand? Also, how do you explain it being more expensive if I do a 15 month commitment than if I do a 14 month commitment? We wanted to do 15 but had to settle for 14 because the price was outrageously more (like $250 more per month) if we did 15.
Fair housing laws prevent negotiation. They can’t give me a better price than what they are advertising for anyone else. A leasing agent actually offered to hold a current price for us despite a move in date a month down the road, and she literally was not legally able to do it because they weren’t offering it as a promotion to everyone. They real estate agent showing us around said he chuckled when he heard her offer it because he knew she was overstepping.
