As you may have noticed, it’s not exactly cheap to rent an apartment in New York City. As of March 2017, the average rent for a one-bedroom apartment was $2,711 a month. But factors like an influx of new developments and a continued demand for cheaper housing are causing prices to drop -- if only a little -- meaning potential renters may have more power over lease stipulations, broker fees, and concessions than they thought.
In February, Curbed reported that concessions (like comped building fees or a free month’s rent) had hit an all-time high, with more than 30% of leases including an allowance of some type. Brooklyn, in particular, saw the number of concessions in a lease agreement triple from last year.
That means there’s no reason you should be settling for the asking price on a rental without haggling a bit. Figuring out how to negotiate can be tricky, so we asked NYC real-estate experts how to find money-saving incentives and lower rent on your next apartment lease.