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renewing rental lease

Started by NYCnewbie
over 14 years ago
Posts: 46
Member since: Mar 2008
Discussion about
how much has yours increased? expected increase for NYC rental market?
Response by pepino
over 14 years ago
Posts: 22
Member since: Aug 2010

Renewed last Fall @ 5% increase - 1BR apt, lower Manhattan. However, a neighbor's rent just went up by 20% in the same building. Neighbor has larger apt, better view, and with a Spring renewal date, it tends to be a busier time, with less flexibility for negotiating with landlords. Plus NYC rental market continues to be very tight, especially downtown.

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