Renegotiating lease--requesting feedback

rlmnyc: $2800 seems like a pretty good deal to me for a Jr 4 (you are talking about a 1 BR with an alcove, right?) Check the latest comparables in the building. 1 BR/Jr 4's are around $3K. Unless your unit is totally outdated...

It wouldn't hurt to ask though...

Thanks for the feedback, kands10016. Yes, our apartment's a 1 BR with an alcove.

One month free on one year renewal at $2800 might work as an offer. But your two month escape clause is good for you and not good for the landlord if you exercise it early in the new lease. As a landlord, I'd probably offer you month #13 free because of the two month escape clause.

Did you check all of the available rentals in Park West Village and the time they've been on the market? It's a good indication of what your landlord might expect if he needs to re-market your apartment.

Is your landlord the owner of the condo? If landlord lets you go, it might be two months before the apartment is re-rented and work will have to be done. He might have to give a broker the first months rent as a commission.

On the other hand, if you leave you have the expense of moving and finding an equal or better place for the money. If you go to owner companies like Rose Associates and Brodsky, we found they offer one free month in their rental buildings if you go without a broker.

A lof of rental places are offring new tenants TWO free months!

cliff702, good points. Our landlord is indeed the owner of the unit. She usually emails us in mid-June to inquire about our plans to stay after August, but we haven't heard from her and don't know how to proceed. Should we contact her? Somebody's going to have to make a move soon.

rlmnyc: I'm sure someone could better advise on this, but I believe if nothing "happens" your lease becomes month-month.

cliff's advice seems pretty good to me. A free month seems fair AND the two month escape clause is in your favor. What if you found the "perfect" apartment to buy within the next year? More flexibility for you in that scenario.

Rose Associates has the Melar building nearby. I haven't seen it but the units have washer/dryers. Also I'm not sure if this building has Jr 4's (like yours) and their 1 BR's definitely have a smaller layout than yours. And for a 1 BR, most of them are over $3k (plus the new renters get 1 month free).

stemboat-what rental places are giving two months free? I've only seen this in areas like FiDi (new developments).
cliff's advice seems pretty good to me. A free month seems fair AND the two month escape clause is in your favor. What if you found the "perfect" apartment to buy within the next year? More flexibility for you in that scenario.

Rose Associates has the Melar building nearby. I haven't seen it but the units have washer/dryers. Also I'm not sure if this building has Jr 4's (like yours) and their 1 BR's definitely have a smaller layout than yours. And for a 1 BR, most of them are over $3k (plus the new renters get 1 month free).

stemboat-what rental places are giving two months free? I've only seen this in areas like FiDi (new developments) and maybe other buildings earlier this year when things were really slow!

Uh, sorry for my pasting faux pas!

Thanks, kands. Month-to-month wouldn't be a bad thing, since we're looking to buy. I just hope our landlord's not dead or being held hostage; she's actually quite nice.

of course you LL is nice..she probably bought the apartment 20 years ago and is thrilled to get your $2800 a month. Renogatiate...she'll fold.

You think so, Julia? I'm not the cutthroat sort. I just don't want to be taken for a ride.

It sounds like you have a pretty fair deal as it stands. I'm not familiar with the building and there are 4 listed in streeteasy, but it looks like jr 4s with terraces are currently renting for around $2900:
http://www.streeteasy.com/nyc/rental/539129-condo-372-central-park-west-upper-west-side-new-york
http://www.streeteasy.com/nyc/rental/537661-condo-372-central-park-west-upper-west-side-new-york

If you wanted to get sneaky, you could always hit the open house and see if Raz realty is open to negotiation. That might give you a good sense of where the apartments are renting for now.

Thanks for the info, evnyc. I aspire to sneakiness, but don't think I could pull it off with a straight face.

julia is spot on. if the LL usually contacts you for the reup mid june, why not do the cycle by inquiry. you most likely don't want to move prior to buying and the LL most likely does not want to have to do the "find a new tenant" dance.

Consider what your alternatives would be if you want to move to a similar apartment. Look at apartments on here, NYbits, etc. Come up with a price you would pay if you moved to a similar size apartment and ask your landlord for a reduction to that amount. This creates a win/win for you - you get the reduction you win, you move out and pay less rent and you win.

This all sounds savvy. Much obliged.

kands10016 - I don't think the Melar is the right comp at all for a variety of reasons (including location), but I can tell you that the one-bedrooms definitely don't have W/D. There *is* a line with 800-ish sq ft 1 bedrooms, but actually no Jr.4s.