[Alby]

Has anyone tried to renegotiation their monthly rent while on an active lease agreement? What was the outcome?

[PDLM]

I can't see how you would achieve anything. What is your negotiating power? You have a contractual commitment - why should the landlord let you renege on it?

[Crocodile]

I was wondering the same. I have a 1+1 contract. I can cancel after one year, giving one month notice. So, while I have a contract, I can get up and leave now (from my understanding of the contract).

So, has anyone done this or can give some tips?

[wtbhotia]

Originally Posted by Crocodile

I was wondering the same. I have a 1+1 contract. I can cancel after one year, giving one month notice. So, while I have a contract, I can get up and leave now (from my understanding of the contract).

So, has anyone done this or can give some tips?

As long as you finish the 1st year then you can give 1 months notice and leave the place. some contracts need you to give 2 months notice, some contracts you must stay 2 years, it all depends on what contracts people sign.

[Alby]

Originally Posted by PDLM

I can't see how you would achieve anything. What is your negotiating power? You have a contractual commitment - why should the landlord let you renege on it?

Right there with you - over heard people talking on the MTR about this so thought to ask.

[er2]

I'm also on a 1+1, lucky as I was I signed it a month before Lehman went down and the real estate market followed.... If anyone in a similar situation re-negotiates his rent, I'd be interested to hear about it.

PDLM - while I'd advise any expat against doing so, locals might succeed in convincing their landlord to lower the rent. Lots of non-contractual leverage - you stop paying the rent, tell your landlord again and again you'll pay by the end of next week, then secretly move out after a month with all your belongings and leaving the place in a mess - lots of hassle for the landlord. Especially when the market rate for such a place has plummeted, say -30%. Throw in a bit of "I work for commissions, I earn only half of what I earned last year" and offer to settle for -20%.... it might work.

[Mat]

Originally Posted by PDLM

I can't see how you would achieve anything. What is your negotiating power? You have a contractual commitment - why should the landlord let you renege on it?

It actually happens. At least 2 colleagues of mine renegociated their rent slightly down (~3K less - out of rent at around 30K).

They contacted their Landlords and after discussion came to such agreement. On what basis you will say?

Well they were ready to move out - already completed their one year - as similar flats in their building were now renting at lower prices. Instead of loosing a good tenant, the landlords agreed to lower a bit the monthly rent.

[wtbhotia]

Originally Posted by Alby

Right there with you - over heard people talking on the MTR about this so thought to ask.

It doesn't hurt to ask the landlord. He's not going to kick you out if you ask the question, some landlords are quite nice and if you explain your difficulties they can come to some sort of agreement, maybe a few hundred or 1k off the rent, better than nothing. Just don't go crazy and ask them i want 50% cut in rent.

[PDLM]

No problem once you are out of your minimum commitment - my comment was aimed at people within the initial commitment (12 months or whatever) that they signed up to.

[A-J]

my rent is 6,700 and i was on contract for 2 years which ends today, i asked landlady to go down to 6k she said no can do baby. the best i can do is to keep it at 6,700. as PDLM mention i didn't have much negotiation power. so we agreed at 6,700. i guess residential market is not as much affected as office market.