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rental rates in brooklyn

Started by sanatsever
over 14 years ago
Posts: 2
Member since: Apr 2012
Discussion about
I need to renew my tenant's lease and im wondering if rents have gone up since last year. my condo is by BAM. Is there a legal amount i can only raise it by with condos like with rent stabalized apts. ? Can someone please advise, as I'm new to this.
Response by jgay212
over 14 years ago
Posts: 2
Member since: Feb 2011

Condos are free market rentals. There is not limit legally to how high you can raise the rent. You don't want to raise the rent high enough to motivate a good tenant to leave. You should get an increase. The rental market is stronger this year.

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