Block diagonalization (BD) based precoding techniques are well-known linear transmit strategies for multiuser MIMO (MU-MIMO) systems. By employing BD-type precoding algorithms at the transmit side, the MU-MIMO broadcast channel is decomposed into multiple independent parallel single user MIMO (SU-MIMO) channels and achieves the maximum diversity order at high data rates. The main computational complexity of BD-type precoding algorithms comes from two singular value decomposition (SVD) operations, which depend on the number of users and the dimensions of each user's channel matrix. In this work, low-complexity precoding algorithms are proposed to reduce the computational complexity and improve the performance of BD-type precoding algorithms. We devise a strategy based on a common channel inversion technique, QR decompositions, and lattice reductions to decouple the MU-MIMO channel into equivalent SU-MIMO channels. Analytical and simulation results show that the proposed precoding algorithms can achieve a comparable sum-rate performance as BD-type precoding algorithms, substantial bit error rate (BER) performance gains, and a simplified receiver structure, while requiring a much lower complexity.