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Lease Renewal Advice

Started by Topper
about 17 years ago
Posts: 1335
Member since: May 2008
Discussion about
I have a one-year lease coming up for renewal shortly. I'm currently paying about $4,000 for a one-bedroom, floor-through apartment in the Chelsea historic district. Two working fireplaces and a terrace. Building condition, though, is charitably about a "gentleman's C." I'd like to ask for a modest rent cut for the coming year. Any thoughts on what would be a reasonable figure? Any negotiating thoughts? Many thanks.
Response by new2ny
about 17 years ago
Posts: 38
Member since: Jul 2008

Topper if you have the time check out other rentals in the areas you would like to live in. You may find something you like better. But, that will give you and idea of what rents are going for and you could use this information to see if your landlord would match the rental rate if it's better. Landlords are offering one month free so you might ask for something like that which would save you money. Some rents have come down as much as 20% but it depends on the buildings and locations. I would think in this climate your landlord would want to keep you as a tenant and would work something out. Good luck.

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