Lock into an 18 month lease for an UWS 1 BR?

the 18 month offer this time of year may be an attempt to get the apartment on the much more expensive summer rental schedule, where they can jack your price up and you'll be competing against college kids / grad students / new bankers / etc.. I'd tread with caution. I may be wrong, but I also don't necessarily see a huge increase in rents so the extra 6 months of protection may not be worth it. See if you can get a second year max renewal option (my LL gave that when I just signed up a new lease).

I think Freebird is correct about the motivation for the 18-mo term, but I would view it positively in that I would have more options if my apt turns in the summer rather than the winter.

Sorry -I meant to post this under RENTALS not SALES.

Yup that was their point: to re-align themselves for the summer rental market. They told me they won't do an exact 12- or 24-month lease that effectively starts on a December 1. True that I could run into problems fighting off competition in summer of 2013 but I may get transferrred to another city by that time.

I also thought that signing on today at that price and timeframe for that neighborhood was a win-win?...a good deal??? Place is in great condition...just want feedback from SE veterans

Agree with the hope of the seasonality factor.

I also don't necessarily see a huge increase in rents so the extra 6 months of protection may not be worth it.

And, I agree with this too. As Incomes continue to come down.. more and more will find it difficult to pay more in rent.

Ok, thanks all. I could always sublet if times were to get tough.

A 6 month sublet is going to be a costly option and a real hassle, so if that's a possibility I'd probably try to steer towards a 1 year. But if you like the apartment and think you're getting a good deal and think there is a good chance you'll live there for 18 months(+), just do it. Good rentals don't last long (in any market).

subletting your rental is a pain and you shouldn't count on it. it sounds like a great deal and i think you should sign it because you like the apartment and if that's the lease terms landlord wants he'll get it from someone else. you can always sabotage the viewings in 18mos if your landlord tries to pressure you out. but i didn't tell you that.

how do you sabotage viewings?

i can't teach you how to do that on a public forum. but you can make your home look very unwelcoming. ok, i'll give you 1 idea. but just this 1. borrow magazines and books from everyone you know and make stacks and stacks of them against your wall. most renters in the mid - upscale market are very knowlegable about bedbugs and where they like to live. you can freestyle from there.

--Matsu--how do you sabotage viewings?

http://www.aetv.com/hoarders/video/

ok one more, but this is gross. it might accur to you to leave a mess in the kitchen to give the impression of a likely roach infestation, unfortunately that might lead to an actual roach infestation. this is gross, i'm warning you. what you can do is buy a bag of 4-6 apples some time before you know people will be coming. leave them in the bag to go bad near a cracked window so the smell doesn't bother you. the day people come, put them in deep bowls on shelves above eye level before you go out. the smell and the fruit flies will dissapear as soon as you dispose of the bad apples when you get home. but it will make your home very unwelcoming to potential renters who saw 5 other apartments that day. your place will quickly get moved to the bottom of their list. and so on.

"-Matsu--how do you sabotage viewings?

http://www.aetv.com/hoarders/video/"

exactly. things of that nature. but be careful to not aquire any actual infestations. you just want it to look like you live in filth with vermin. best to err on the side of caution with edible props.

Yeah I like the apt a lot so will go with it. I think the location is so desirable that it would sublet easily if it came down to that.

Sabotaging is an art. Just Have the current renter take photos with unmade beds, piles of dirty laundy, and dishes all about the place! ;)

Good luck on that easy sublet (make sure your building allows it)!

I'm actually taking over someone else's lease as he is getting transferred out of NY after just 5 months into his own lease so that's my reason for posting. I guess we both lucked out finding each other and the landlord must"ve been ok as long as he found the next renter.

Also the current lease does not verbatim say you can't sublet so I'm willing to take on that small calculated risk. Thanks, Freebird.

I absolutely would not do it. There is easily a 10+% difference between summer and winter month. How much are you gaining from this place vs others in terms of price, weighed against a 10% higher rent in the future for as long as you end up renting. Probably not worth it.

If it were me, I'd stick to my guns. Not many people looking for Dec 1 leases any more, so if they miss you they will probably lose a month and face another lost month as Jan 1 is the absolute bottom for move-ins. I'd tell them that I need my lease at this time for some reason, like a bonus schedule at work.

Inonad is right in the respect that this benefits the owner and not the renter. on the other hand, a 1 bed for less than 2500 per month is a great deal, maybe not to be repeated. nada once again basing advice on the idea that if you dont rent it no one else will.

a one bedroom in that area, with a powder room to clarify.