What rent increase to charge an UWS tenant?

It's a big increase compared to the previous increase you asked for and the market seems to be going the other way. I lived in that neighborhood and it was very nice and your apartment may be nicer than the average. Also, have you figured what you might have to spend to paint and renew, plus the lost rent for down time, if she leaves?

Our lease renewal is coming up in a midtown high rise and we'll leave if they raise 10%.

There are many, many apartments offered on Streeteasy and rents seem to be going down.

Thanks (The last "increase" was written-into our 2-year contract).

Is this a co-op or condo. Walk up or elevator. Doorman or non doorman. Keep in mind if your tenants were to find another place they are going to go through the application process which can be costly and aggravating.

You know your tenant...is this a wall street person making tons of money or someone just making it. You'll need to keep in mind the cost of looking for another tenant. good luck

You have to look at the market and you can't just look at % increases. I live on A'dam in the 80's (Pay $1,950 for 500sqft 1BR walk-up) and while we've received 7-8% increases in the past this year our company has indicated they won't be as high. Lux buildings are coming down in rent and $2800 is pretty close to the $3,100 mark one can find in the cheaper elevator rental buildings (I know b/c I'm moving to one). Without Laundry or a elevator (which I assume at your rate) $2,800 is on the high side despite its excellent location.

Thanks all. Esp. Anon 101.

I think I'll increase 10% (instead of 12%).

Thanks again...

I think you'll be looking for another tenant, especially in this market.