I signed a rental lease for $629 a month and then a few months later the same apartment is going for $500?

this is bull****. Tell me what I can do.I signed a rental lease for $629 a month and then a few months later the same apartment is going for $500?
At the time you signed your lease the $629 was the going price. However, with the declining real estate market, the current price is only $500.





Unfortunately, for you, you have a legal obligation to pay the $629 monthly lease for the duration of the lease. You could speak to the management firm or owner about renegotiating although if I were the manager I would see no reason in doing so as there would be additional benefit for me.





Perhaps you could renegotiate your lease for a longer period of time at an in between amount that could be favorable for both of you. You won't know until you try.I signed a rental lease for $629 a month and then a few months later the same apartment is going for $500?
Their is nothing you can do.A deal is a deal and you agreed on the price. Rents sometimes change due to supply and demand and market conditions---that doesn't require the owner to adjust the existing Leases. Put the shoe on the other foot--what if they rented it for $750---how would you feel if the landlord jacked up your rent in the middle of a Lease ? You are free to renegotiate your rent when your Lease is up for renewal or move.
It's not bull. You signed and agreement to pay a certain price for a certian amount of time.





Look at it this way, if you purchased a car two month ago, and now the same car is selling for a lower price...do you really believe that the dealership should pay you the difference?





The time to re-negotiate your lease price is when your lease comes up for renewal.
At the time you signed your lease, the market value of your unit was 629. Now it has dropped.





You can go talk to your leasing office.





But there is nothing you can do.





You signed a contract to pay 629 per month. You are bound by that contract until it expires. Your land lord does not have to give you the lower amount.
You can ask for a reduction (if that is the new normal price and not a introductory offer) and if they want to keep you they'll negotiate. Otherwise, you pay what your lease says until it's finished and then you move.
You can't do anything. There's nothing illegal for a landlord to change the rental amount from unit to unit.
A lease is a binding contract. You're stuck.





Let me ask you this, if the price went up, would you want your landlord to raise your rent?
do it.