Is Your Rent Excessive?
In this ever-changing world, renting is very different. Demand for rentals continues to increase, and the cost for those rentals is also increasing. It’s not surprising many renters believe their rent is too high.
How can you know if your rent is excessive?
- While most rental rates are based on the local real estate market (and the landlord’s choice), some properties are subject to rent control. If you rent in a building that participates in an affordable housing program, the amount you pay may be limited and determined by what is considered the fair market value.
Click here for the fair market rent prices in the Hartford area. These values are determined by the U.S. Department of Housing and Urban Development (HUD).
If you rent in a building that participates in an affordable housing program and you think your rent is too high, contact the Windsor Fair Housing Officer at (860) 285-1984.
- If you do not rent in a building that participates in an affordable housing program, your rent is simply based on the market rate. Market-rate rent is the value a landlord can reasonably expect, considering the supply and demand for similar rental properties in your area.
If you believe you’re paying more than the market rate, you may be able to negotiate a lower rent (or a reduced rent increase) at your next lease renewal.
Questions to help you determine if your rent is excessive:
- What does everyone else in town pay?
Find out what other people in your building are paying for rent. If you have friends or work with people who live in your neighborhood, ask what they pay. Take note of any differences between their apartment and yours, especially the number of bedrooms and bathrooms, and amenities and size differences.
- What do similar rentals charge?
Check local listings. Browse apartment listings in the area to see what comparable apartments are going for.