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rental rates in brooklyn

Started by sanatsever
almost 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 huntersburg
almost 14 years ago
Posts: 11329
Member since: Nov 2010

No, it's like buying an apple at the corner store. They can charge whatever they want. And you can choose not to buy it. If at the end of the day they charged so much for the apple that no one bought it, then they lose out. But if see the other stores in the area are charging more, and if they know they have a lot of people who come by every day and like their store vs. the other stores, then maybe they raise the price of the apple by some uncomfortable percentage but not enough to make you go without.

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