Finance

I Saved $1,200 on NYC Rent by Negotiating With My Landlord

Published

1 year ago

June 16, 2024

I Saved ,200 on NYC Rent by Negotiating With My Landlord

Though I write about the housing market and mortgages for a living, I’m a Gen Zer renting my first New York City apartment. I’m also new to the workforce and living in a Brooklyn neighborhood where the median rent is above $4,000.

Housing is unaffordable right now, for both renters and buyers. Personal finance experts often recommend that you avoid spending more than 30% of your pretax income on housing. But that’s usually out of our control. And when you don’t live in a rent-stabilized property in NYC, your housing expenses could increase hundreds of dollars with each lease renewal.

I learned that the hard way.

When our lease was up in April, my roommate and I saw that our landlord was proposing a 4.5% annual increase, raising our rent by $200 a month, and costing us each an additional $1,200 over the next year.

We could’ve easily accepted the increase, but all it took was a bit of research, a well-written email and a quick phone call to get our landlord to budge.

My easy strategy for negotiating rent

Since our apartment doesn’t have rent-stabilized protections, there’s no legal limit on how much our landlord can increase our rent. Still, the proposed 4.5% bump was much higher than we expected.

I knew we’d be leaving money on the table if we didn’t at least try to negotiate. Landlords can often appear superhuman, impervious to normal business haggling. But that’s not always true. Here’s what we did to negotiate our rent.

I did research on average rent increases

I started by researching how much average rents had increased in our Brooklyn neighborhood over the last year. I found that average rental prices went up by less than 3% during that time, giving us pretty good leverage to negotiate. I also noted in my email that a 4.5% increase was above the current pace of inflation, which was at 3.4%.

I built my case as a responsible tenant

In many cases, it’s more convenient for a landlord to renew a lease with a responsible tenant than to deal with a vacancy. My roommate and I always pay our rent on time and in full. We alert management to any issues, like a leaking faucet, to prevent further damage or costs to the building. So we had that going for us.

I figured it was also worth noting recent issues with the apartment. For instance, last fall, there was some pretty major flooding in our bathroom. We’d been disappointed by how long it took the building super to reply to our requests and follow through on the repairs.

I was prepared to make concessions

I knew we wouldn’t be able to avoid a rent increase entirely. So I suggested an increase that I felt was in line with the local rental market, the pace of inflation and our reliable rental history.

Instead of 4.5%, I proposed a 2% increase as our starting point. That left us with some wiggle room in our budgets in case our landlord came back with a higher number.

I wrote a professional email

After we sent the email, the building’s management took about a week to respond. They asked if we could hop on a brief phone call to discuss the terms of our renewal. Our landlord offered an increase of just above 2%, meaning our rent would be going up only $100 a month as opposed to $200.

AI can help you negotiate with your landlord

We didn’t use AI to draft the email to our landlord, but in hindsight, we definitely could have.

When putting together this article, I decided to give Gemini, Google’s AI service, a prompt to see if it could help someone write an email to negotiate rent. The result wasn’t too different from the actual email my roommate and I sent.

Here’s something you can use as a template to negotiate with your landlord if you’re in a similar situation.

Dear [landlord name],

I hope this email finds you well.

I am writing to you regarding the upcoming lease renewal for my apartment [your apartment number]. I have been a resident here for [number] years and have always enjoyed living in the building.

I received the notice of the proposed rent increase to [new rent amount]. Though I understand that rent increases are sometimes necessary, I was hoping we could discuss the possibility of a lower adjustment.

Here are a few reasons for my request:

[State your reason(s) for the negotiation. Here are some options:]

Market research: I have researched comparable apartments in the area and found that the average rent for similar units is [average rent amount].
Good tenant history: Throughout my tenancy, I have consistently paid rent on time and in full, taken good care of the apartment, and maintained a positive relationship with you and other residents.
Financial hardship: [optional — if applicable, you can briefly explain any financial hardship that makes the increase difficult]
Alternative: [optional] I would be happy to sign a longer lease term of [number] years in exchange for a smaller rent increase.

I am committed to staying here at [apartment complex name] and believe that a mutually beneficial agreement can be reached. I am open to discussing different options. Thank you for your time and consideration. Please let me know your availability to discuss this further.

Sincerely,

[name]

You’ll still need to fill in some details, like information about your specific rental market as well as your experience as a tenant. But it’s a great starting point, especially if writing and sending emails gives you anxiety.

A little self-advocacy can go a long way

The rising cost of living — for housing, medical expenses and other essentials — isn’t something we can control. But there are small measures we can take to save money and make informed financial decisions that benefit us in the long run.

You’re allowed to ask questions about the bills you receive and advocate for yourself. It won’t eliminate high costs altogether, but it could help you keep more money in your pocket.

Here are some other costs that are worth negotiating:

Medical bills and health care costs

You can contact your health care provider, insurer or hospital to negotiate medical costs. Your provider may lower your bill, offer a payment plan or provide financial assistance if you’re a low-income patient or uninsured. Always carefully review your medical bills and look for mistakes, and if you have any questions about the charges, ask your provider.

Credit card fees and interest

You may be able to get a better interest rate or reduced fees by simply calling your credit card issuer. Before you hop on the phone, though, be sure to research your account’s history and terms, in addition to competing credit card offers, so you can make a strong argument.

Cable, internet and phone

Cable, internet and phone providers often lure you in with a low introductory rate. But after a year, your price goes up. You can either contact your provider to see if it has any deals available, or mention you’re considering canceling your service. Your provider would rather keep you as a customer for a lower price than lose your business altogether.

In my opinion, self-advocacy is an underrated personal finance tool. By speaking up for myself, I avoided spending an extra $1,200 this year. And I won’t be afraid to do it again when my internet provider’s promotional offer expires this summer.

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Finance

Asian stocks rise as US rate hopes soothe nerves after torrid week

Published

1 hour ago

November 24, 2025

Press Room

Asian stocks rise as US rate hopes soothe nerves after torrid week

Investors are awaiting the latest US inflation data this week that could guide the Federal Reserve’s decision-making on interest rates (RONALDO SCHEMIDT)

Asian markets mostly rose Monday as fresh hopes for a US interest rate cut provided some calm after last week’s rollercoaster ride fuelled by worries of a tech bubble.

The scramble to snap up all things AI has helped propel equities skywards this year, pushing several companies to records — with chip titan Nvidia last month becoming the first to top $5 trillion.

But investors have grown increasingly fearful that the vast sums pumped into the sector may have been overdone and could take some time to see profits realised, leading to warnings of a possible market correction.

That has been compounded in recent weeks by falling expectations the Federal Reserve will cut rates for a third successive time next month as stubbornly high inflation overshadows weakness in the labour market.

However, risk appetite was given a much-needed shot in the arm Friday when New York Fed boss John Williams said he still sees “room for a further adjustment” at the bank’s December 9-10 policy meeting.

The remarks saw the chances of a cut shoot up to about 70 percent, from 35 percent earlier.

Focus is now on the release this week of the producer price index, which will be one of the last major data points before officials gather, with other key reports postponed or missed because of the government shutdown.

“The reading carries heightened importance following the postponement of October’s personal consumption expenditures report, originally scheduled for 26 November, which removes a key datapoint from policymakers’ assessment framework,” wrote IG market analyst Fabien Yip.

“A substantially stronger-than-expected PPI outcome could reinforce concerns that inflationary pressures remain entrenched, potentially constraining the Fed’s capacity to reduce rates in December despite recent labour market softening.”

After Wall Street’s rally Friday capped a torrid week for markets, Asia mostly started on the front foot.

Hong Kong and Seoul jumped more than one percent, while Sydney, Singapore, Wellington and Taipei were also well up, though Shanghai and Manila retreated. US futures advanced.

Tokyo was closed for a holiday.

But while the mood is a little less fractious than last week, uncertainty continues to weigh on riskier assets, with bitcoin hovering around $87,000.

While that is up from its seven-month low of $80,553, it is still sharply down from its record $126,200 hit last month.

– Key figures at around 0230 GMT –

Hong Kong – Hang Seng Index: UP 1.4 percent at 25,568.08

Shanghai – Composite: DOWN 0.1 percent at 3,829.71

Finance

Donating Stock Instead of Cash Is the 2-for-1 Deal You’ll Love at Tax Time

Published

19 hours ago

November 23, 2025

Press Room

Donating Stock Instead of Cash Is the 2-for-1 Deal You’ll Love at Tax Time

For many families, the holiday season comes with familiar rituals: untangling last year’s Christmas lights, decorating the tree and rediscovering ornaments we swore we’d organize “better next year.”

Charitable giving should feel just as joyful and natural — but for many households, it’s also a moment when good intentions collide with inefficient habits.

The biggest habit that needs a rethink? Donating cash when there are far better options.

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This year, with markets up and many investors holding appreciated securities, writing a check could be one of the least efficient ways to support your favorite causes.

The good news: With a little planning, you can stretch your generosity and reduce your tax bill.

Why Americans give — and why it matters now

Americans are remarkably generous people.

Whether it’s supporting a food pantry, helping a local family in need or giving through a workplace program, most of us want to help — especially during the holidays.

Giving truly feeds our sense of purpose: The latest Bank of America Study of Philanthropy reports that 87% of affluent donors say charitable giving brings them joy.

But with inflation still squeezing households and many nonprofits seeing higher demand this year, the way you give matters. Advisers are urging clients not just to give — but to give smart.

For many families, the most effective giving tool is also the simplest: donating appreciated stocks, ETFs, mutual funds, even cryptocurrency — instead of cash. Yet, most people overlook it.

When you donate long-term appreciated assets (held more than a year), you get two benefits at once:

A charitable deduction for the full market value
Complete elimination of capital gains tax

That combination is hard to beat.

A real-life example

Say you bought $10,000 worth of a stock 15 years ago that’s now worth $50,000.If you sold it, you’d owe capital gains taxes on the $40,000 of growth.

If you donate the shares directly:

You eliminate the entire $40,000 gain from taxation
You receive a deduction for the full $50,000
The charity gets the whole $50,000 — not a reduced after-tax amount

Financial adviser Keith Spencer, founder of Spencer Financial Planning in Spokane, Washington, often walks clients through this exact scenario.

“If the client wants to maintain the position,” he says, “they can donate the shares and immediately repurchase them. The reset cost basis may significantly reduce long-term tax liability.”

This “resetting” of cost basis is a hidden gem: It starts future gains at a higher level, trimming long-term tax drag in your taxable account.

A great fit for real-world portfolios

Many households already own perfect candidates for gifting:

Old mutual funds with large gains
Company stock from long careers
ETFs bought during early-pandemic dips
Automatic dividend reinvestment shares
A handful of big winners in an otherwise diversified account

Even donating $1,000 of appreciated securities can be more efficient than donating $1,000 of cash.

Bonus: It helps rebalance your portfolio

If one stock or sector, such as technology, has grown too large, donating appreciated shares is a painless way to trim an overweight position — without triggering capital gains.

It’s the charitable equivalent of replacing that one broken string of holiday lights: a small fix that makes everything else work better.

Meet the donor-advised fund (DAF)

For many families, the easiest way to combine tax benefits, flexibility and long-term planning is a donor-advised fund.

A DAF works like a “giving account” for your charitable life — you contribute now (cash or appreciated securities), take the deduction right away, and recommend grants over time.

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The biggest DAFs are Fidelity Charitable, DAFgiving360 (formerly Schwab Charitable) and Vanguard Charitable.

According to Ted Hart, author of The DAF Revolution, here are the reasons people use DAFs:

Flexible and strategic. Contribute now, give later and time tax deductions to high-income years.
Simple, One contribution can support many charities; the sponsor handles verification and paperwork.
Accessible. Many DAFs have low or no minimums, opening the door to mass-affluent donors.
Family-friendly. A natural tool for teaching kids and grandkids about giving and values.
Powerful tax benefits. Immediate deduction plus tax-free growth inside the account.

Who uses DAFs?

With roughly 1.5 million to 2 million accounts in the U.S., DAFs are thriving across:

Middle-income households
Mass-affluent families
Workplace-giving participants
Corporate teams
Community and faith-based donors

David Johnston, wealth management adviser at One Point BFG Wealth Partners in Parsippany, New Jersey, has seen DAFs reshape how families engage with philanthropy.

“DAFs are a very powerful tool for those who want the tax deduction today but also want to control the assets over time,” he says. “Some of our clients involve their family in deciding where donations go. It’s a great way to teach the values of philanthropy.”

Five reasons to donate stock instead of cash

1. Bigger impact, same gift. Your charity receives the full market value — not an after-tax amount.

2. Eliminate capital gains tax. Avoid taxes on appreciated assets you donate directly.

3. Increase your tax deduction. Claim the full fair-market value of the stock or fund.

4. Keep your portfolio healthy. Reduce concentrated positions without triggering taxes.

5. Pair with a DAF for maximum flexibility. Fund your DAF with appreciated shares and give over time — on your schedule.

Why this matters now

The holidays are busy. Between decorating the tree, hosting family, shopping and trying to figure out why last year’s wreath looks slightly more lopsided this season, charitable giving can feel rushed.

But a little planning — especially around appreciated assets and DAFs — can turn your holiday generosity into a smarter, more meaningful gift.

The bottom line

Giving generously is part of who we are. But giving smarter helps you support more causes, involve your family in meaningful conversations and reduce your long-term tax burden.

As a retirement coach at RetireMentors, I help clients understand the meaning of money in their lives — and for many retirees, that includes finding the right nonprofits to support, volunteer with, and champion.

Just because you’re retired doesn’t mean you want to stop giving. Many retirees find themselves wanting to give more, to deepen their impact and to make philanthropy part of their legacy.

With a few simple strategies — such as donating appreciated securities and using a DAF — you can do exactly that.

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Finance

Aerodrome Finance Hit by ‘Front-End’ Attack, Users Urged to Avoid Main Domain

Published

2 days ago

November 22, 2025

Press Room

Aerodrome Finance Hit by ‘Front-End’ Attack, Users Urged to Avoid Main Domain

Aerodrome Finance, a leading decentralized exchange on Coinbase’s Base network with $400 million in total value locked, was targeted in a front-end attack late Friday, prompting urgent warnings for users to avoid its primary domains.

The incident appears to be a DNS hijacking of Aerodrome’s centralized domains, which allowed attackers to reroute users to lookalike phishing sites designed to trick them into signing malicious wallet transactions to separate them from their funds. Users are advised to instead rely on Aerodrome’s decentralized domains. Aerodrome has asked My.box, the domain provider, to contact them over a potential exploit of their systems.

These attacks do not compromise the underlying smart contracts, which manage user funds and protocol logic on-chain. At the time of writing, it’s unconfirmed whether the attack has led to any losses or how many users have been affected. Liquidity pools and protocol treasuries remain intact, according to Aerodrome.

Aerodrome’s team has been posting real-time updates on X, urging users not to access the compromised domains, aerodrome.finance and aerodrome.box, and instead use decentralized ENS mirrors like aero.drome.eth.limo. To reduce risk, the team recommends revoking recent token approvals using tools like Revoke.cash and avoiding signing any transactions from unverified domains.

New attack

Aerodrome has experienced similar front-end attacks before, including two in late 2023 that resulted in approximately $300,000 in user losses.

This latest attack comes just days after Aerodrome announced a merger with Velodrome, consolidating liquidity across Base and Optimism under the new “Aero” ecosystem. Despite the disruption, the AERO token price remained stable at around $0.67, up 2% over the last 24 hours.

The investigation is ongoing.