Negotiating Lower Rent: Here's How, Plus Charlotte Metro Rents

CHARLOTTE, NC — Looking to save a few extra bucks this year? There's more you can do besides bringing lunch to work, saving on gas and traveling during the off season. Add negotiating lower rent to the list, thanks to tips from ApartmentList.com, you'll be saving your coins in no time.

And check below to see where rents are rising and falling in the Charlotte area. It may factor in where you decide to live.

First, make sure you're strategizing and building your case in advance. Double check your lease agreement because it's not uncommon for some agreements to state that your landlord or leasing office needs to be notified about your decision to renew 60 days before the end of the lease.

• Think like your landlord. Be your landlord: Rent is often raised to offset expenses or losses, says the rental company. Get creative. If there are renovations you can take on yourself, speak up. This could be a good negotiating tool to keep the rent manageable.
• Know their legal limits: Know the law. It's always a good idea to equip yourself with important information that could later protect you. Read the fine print carefully and know your state and local housing laws that govern lease renewal processes. You should know just how much your landlord can legally increase your rent and how far in advance they have to notify you about it.
• Gather some intel: It's probably not a bad idea to get to know your neighbors, if you haven't already. Find out how much they're paying for a similar unit. If you learn that they're paying less, but you haven't seen any renovations in yours for years, that could be something worth bringing up.
• Suggest a longer lease and offer to pay up-front: If you've fallen in love with your apartment and don't want to let it go, at least not for a few years, speak up. Share that you're committed to really making this your home and have no plans on leaving any time soon. Some landlords will let you sign a lower multi-year lease or lower your rate if you pay for a couple of months up-front.

One thing to keep in mind is that the rental market is seasonal. Things usually play in the tenant's favor during the winter months. The demand for apartments is low in December and January, according to ApartmentList.com. For a full list of rent negotiating tips, visit their website.

A January 2020 report published by the company compares rent growth in Charlotte with other cities in North Carolina, as well as other large metro cities across the country.

Charlotte metro rents have remained steady over the past month, but have increased moderately by 2.6 percent in comparison to the same time last year, according to the report.

Median rent for a one-bedroom apartment in Charlotte is at $989 and $1,154 for a two-bedroom. Charlotte’s year-over-year rent growth surges ahead of the state average of 2.4 percent, as well as the national average of 1.4 percent.

Charlotte isn’t the only city in North Carolina where rents are increasing. In fact, increases were reported in nine out of the state’s largest 10 cities. Cary ranks as the most expensive city for renters in North Carolina, where it will cost $1,305 to rent a two-bedroom apartment.

Wilmington was the only city out of top 10 in North Carolina where rents dropped, according to the report. There, rent for a two-bedroom costs an average of $938.

Other Charlotte metro cities include:

• Concord: +0.8 percent in January and +0.3 percent over the past year.
• Gastonia: -0.7 percent in January and +2.5 percent over the past year.
• Rock Hill: +0.7 percent in January and +3.4 percent over the past year.
• Huntersville: +0.5 percent in January and +4.1 percent over the past year.
• Matthews: +0.7 percent in January and +4.7 percent over the past year.
• Cornelius: +1.1 percent in January and +5 percent over the past year.
• Fort Mill: -0.6 percent in January and +3.2 percent over the past year.
• Pineville: +1.2 percent in January and +5.6 percent over the past year.

To find your city, view the report online.

"Charlotte is still more affordable than most large cities across the country," says ApartmentList.com. "Renters will find more reasonable prices in Charlotte than most comparable cities. For example, San Francisco has a median 2BR rent of $3,088, which is more than two-and-a-half times the price in Charlotte."

Many cities nationwide also saw increases, including Austin (+3.1 percent), Phoenix (+3.8 percent), and Dallas (+2.2 percent).

Original story by Andrea V. Watson, Patch staff