70 Percent of Landlords Would Cut Rent

According to a recent survey, 69 percent of smaller, independent landlords would reduce rents to keep tenants in their homes. One third (32 percent) say they already have reduced rents in the past 18 months.

Tracey Benson, president of The National Association of Independent Landlords, points out that in today's tough economy, renters absolutely should approach their landlords if they need help making ends meet.

"Just like everyone else in this recession, landlords are trying hard to pay their mortgage and cover their bills. As long as renters pay on time and take good care of where they're living, landlords will work with them," Benson said.

Of those landlords willing to negotiate, 61 percent said they would drop rents up to 5 percent, and another 29 percent said they would take off up to 10 percent; the handful of those remaining said they would consider even steeper discounts.

So 69 percent of landlords say they might be willing to reduce your rent (assuming you are a good tenant), and almost 7 percent of the total would be willing to reduce it by more than 10 percent!

As we wrote about previously, some landlords are willing to go out of their way to keep a good tenant that they feel will deal with them in good faith.
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