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Rental prices (changes y/y or m/m)

Started by jamba97
about 16 years ago
Posts: 79
Member since: Dec 2009
Discussion about
Hi, I'm trying to find market data on changes in rental prices over time (i.e. the past year or so)--specifically UWS if possible Basically my landlord is attempting to raise my rent 10%, and I would like to present market data that points the contrary in the market
Response by evnyc
about 16 years ago
Posts: 1844
Member since: Aug 2008

TREGNY has a quarterly market report that should help you make your case:
http://www.tregny.com/manhattan_rental_market_report

The data is pretty fine-grained, so you should be able to compare your apartment with similar size/locations/amenities.

Good luck!

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Response by EAO
about 16 years ago
Posts: 146
Member since: Aug 2007

jamba, I live on the UWS ( Columbus Circle ). We just got our lease renewal yesterday and we got a 5% discount. This was after a 11% reduction last year.

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Response by marco_m
about 16 years ago
Posts: 2481
Member since: Dec 2008

jamba..all you have to do is hsow him current market prices for an equivalent apartment. then tell him to go f himself

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Response by evnyc
about 16 years ago
Posts: 1844
Member since: Aug 2008

Oh, and be prepared to move if he won't budge. Some landlords haven't gotten the concept down yet that market rates can be a double-edged sword in declining markets such as the one we're in.

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Response by jamba97
about 16 years ago
Posts: 79
Member since: Dec 2009

thanks for the advice all, and any additional is appreciated

to be honest, i was floored when i got the phone call...10%!!!

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Response by somewhereelse
about 16 years ago
Posts: 7435
Member since: Oct 2009

10% increase.

Ha.

I guess you'll always have idiots like perfitz out there...

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Response by polydoa
about 16 years ago
Posts: 152
Member since: Feb 2009

find similar apts on nybits.com or streeteasy (that is, neighborhood, size, floor, doorman vs. not, amenities, etc.). then call that place and ask for incentives because actual price maybe even less than what is advertised on nybits and SE.

then take that number to your landlord and say "this is what is out there and, while it is a pain to move, i am prepared to do it for such a discount from... blah bla blah..."

i did it in august and got 25% off from last year (large "luxury" high rise in chelsea).

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Response by anonymous
almost 16 years ago

For some of the bigger buildings, streeteasy can show you history of similar apartments in a line over time, and indeed I've seen that the rental companies are offering lower rents than 2 years ago.

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