What to do if your landlord wants more rent

The first thing to do is not to panic and not to agree immediately. Always check the current average rental rate on the market for similar premises. Sometimes the landlord is simply testing whether you are willing to pay more; they want to make money too. In reality, the increase may be exaggerated, and you will have a strong argument for negotiation. If you find information that neighbouring properties are cheaper, this is good leverage. The opposite situation is also possible: if it turns out that your contract is already favourable, it will become clear that the landlord's demand is quite fair.

After the analysis, it's time to talk. Be calm but confident. Remind the landlord that you are a stable and reliable tenant, pay on time and don't cause any problems. Losing such a tenant is also a risk. Make it clear that a sharp increase could lead to the termination of the contract, and finding a new tenant always takes time. The main thing in negotiations is to hint that your departure will be no less painful for them than the increase is for you. Back up your arguments with figures and facts.

In any situation, it is better to have a plan B, advise MAFPELS managers. Even if you want to stay, start looking for other options. This will give you confidence in negotiations. Maybe you can find something better for the same money. Sometimes, just knowing that you have an alternative makes it easier to talk to your landlord. It is possible that competition will make them more accommodating. And if you do find a better option, you will have real freedom of choice.

However, changing location is more expensive than it seems. You need to take into account the move, repairs to the new premises, the purchase or adaptation of furniture, and a possible reduction in customer flow due to the change of address. All of this is a drain on your finances. That is why, before making a rash decision, it is important to calculate all the costs and compare them with how much the landlord wants to add. Sometimes a rent increase is much less painful than moving with all its costs.

If the landlord is asking for slightly more than the average rate and moving involves significant expenses, it is wiser to stay, according to Mafpels Trading. In the long run, it is cheaper and less stressful. But if their demands are too high and the market offers adequate alternatives, don't be afraid to say ‘no’. The main thing is not to make a decision based on emotions. It is worth leaving when the benefits of a new place are clearly higher than those of staying where you are.

When it comes to renting, it is important to have a reserve of money. If you set aside money in advance for unexpected expenses such as rent increases, you won't be caught off guard. This reserve will give you freedom of choice, allowing you to negotiate calmly, consider alternatives, and not agree to unfavourable terms just because you don't have the money to move or the time to look for another place.

Your main task is not to act impulsively. Gather information, consider all scenarios, and only then make a decision. Any rush in this matter can cost you dearly.