negotiating over lease

When you’re signing a new lease, you don’t just have to go with the terms as they are laid out. In many situations, you have to option to negotiate a different lease length and ask for some flexible options. It’s even easier to do this if you can show the landlord that the terms of a negotiated lease would benefit them as well. If you want to learn more about what kinds of things you can ask for, a Long Island, NY real estate closing lawyer from our firm may be able to help you.

Why Should I Negotiate Lease Length?

Negotiating lease length is a good place to start if you are signing a residential lease. There are some big benefits to this, even if you just stretch a one-year lease into a two-year agreement:

  • You can avoid rent increases for longer
  • You don’t have to worry about moving costs in the short term
  • You have stable housing for longer, barring financial issues or other unforeseen issues

It’s hard to negotiate a longer lease than two years in most apartments or rental homes, but it’s a great idea to get that longer lease if you know you’re going to stay in the area for a while.

How Can I Convince My Landlord That This is a Good Deal For Them?

Your landlord might be willing to extend the lease length, but you have to show that it’s a good deal for them too. It helps if you’re a model tenant, with landlord references, good income, and some savings to fall back on. You can show the landlord that they are locking in a good tenant for longer, so they don’t have to worry about filling the apartment again for a while.

Trying to find a new renter can take a lot of work. If you negotiate a longer lease, that’s more time that a landlord doesn’t need to worry about advertising, paperwork, and meeting prospective tenants.

Can Commercial Property Renters Negotiate Lease Length As Well?

Of course, commercial property renters can talk about lease length as well. While month-to-month leases and one-year leases are common in the residential sector, commercial property leases are often longer. If you are offered a two- or three-year lease and you want to stay longer, you may be able to argue for that.

A longer lease means more stability for your business and a steady income for your landlord. However, you should also consider negotiating some flexibility into your lease. What happens if you need to get out of the lease early? Is there a clause for what happens if the property struggles to retain other tenants? Protect yourself by negotiating ways to get out your rental agreement, preferably with the help of an attorney.

Contact Our Firm Today

If you need some help negotiating a lease, contact David A. Gallo & Associates LLP. You can tell us more about your goals and what you need assistance with during a consultation with our team. If our experienced attorneys can help you, they will get right to work.