Manhattan Rent Negotiations
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Ramit Sethi shares a story about successfully negotiating his rent down multiple times in Manhattan, contrary to popular belief about rent only going up.
"I had a pretty nice place in New York and I would always keep my eye on the real estate market just for kicks. Every year I would negotiate my rent, and in an 11-year period, my rent went down 4 times. This is in Manhattan.
A lot of people think rent only goes up - no it doesn't. Depending on where you live, even depending on the segment you're in, rent can go down. When I ran the numbers for an equivalent place that was just 2 buildings over, same view, same square footage, same everything, it would have cost 2.2 times more to own than to rent."
Ramit Sethi
Stanford graduate who turned personal finance advice into a multimillion-dollar empire. Founder of "I Will Teach You to Be Rich" blog, bestselling author, and host of Netflix's "How to Get Rich".
Classical pianist and fitness enthusiast who advocates for practical wealth-building strategies and addressing the housing crisis.