Is Your Rent Too High? Real Estate Insider Jonathan Campau Explains How to Check

The rental market is far more dynamic than many people realize. Some renters, especially those who have lived in the same home for quite some time, may be paying more than they need to. Jonathan Campau, an experienced real estate insider, wants renters of all income levels to know how to see if their rent is too high — and how to negotiate it down if it is.

Jonathan Campau is the founder and CEO of Luxuri, a company offering short- and long-term luxury villa rentals. Luxuri’s dynamic pricing strategy is one of the factors that propelled it to success, and Campau wants renters to understand fluctuations in property values and use that knowledge to their advantage.

“A lot of renters assume market rates are sort of set in stone — but they’re not,” he says. “The first thing I tell people is to compare their rent to similar properties in the area. Try looking at rental listings for units with the same square footage, amenities, and location. If you’re paying significantly more, that’s a red flag.”

Some renters who discover they’re overpaying decide it’s time to move elsewhere. However, for those who want to stay, Campau suggests trying to negotiate a lower rate. Negotiation doesn’t always result in a rate reduction, but many landlords will agree to lower rent if a tenant comes prepared with data.

“If you’re approaching renewal, then that’s your best leverage point,” Campau explains. “Why? Because landlords often raise rents automatically, assuming tenants won’t negotiate at all and just pay whatever they tell them. But if you come prepared with data, like lower prices for similar properties nearby, you have a strong case to push back.”

Campau suggests that to improve their chances of a successful negotiation, renters should be willing to make some concessions. “You can try offering to sign a longer lease in exchange for a lower rate,” he says. “If lowering the rent isn’t an option, consider asking for perks like free parking or waived fees.”

Landlords are more likely to seriously consider a negotiation request from someone who takes good care of the rental property and has consistently paid rent on time. There’s also one other factor that Campau says may help improve a renter’s chances: timing.

It’s also important to understand the high and low seasons for each market. For example, many people seek rentals at the end of the year and the beginning of the following year. During this time, owners may not be as willing to negotiate, as they may have multiple inquiries in hand.

“The rental market fluctuates a lot,” he says. “Landlords are more likely to negotiate during slower seasons, like late fall or winter, when the demand drops.”

So what happens if your landlord won’t budge on your rent rate? That’s up to you. If you’re happy in your home and are paying slightly more than you should be, staying where you are might be preferable to the hassle of moving.

However, if you’re paying hundreds more than market rate and you intend to stay in your next home for an extended period, moving may save you money in the long run.

If you’re renting a home, it’s critically important to understand that rental rates can change quickly, and you don’t have to feel stuck in a too-expensive house or apartment. Ultimately, the better your knowledge of the market, the more empowered you’ll become.

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