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Lease renewal

Started by dmf13
almost 18 years ago
Posts: 150
Member since: Feb 2008
Discussion about
Any thoughts on negotiating the amount of the the increase for apartment with good tenants big building with a managment company running it?
Response by Stefanie
almost 18 years ago
Posts: 35
Member since: Jul 2007

I live in a big building with a big mgt company. My lease was to renew last sept 1 and I called the mgt company just before renewal packages were set to go out and I asked how much they were going to raise us. They said 15%, I said that's rediculous and they said that's market value, so I said it's market value only because you have 3 buildings on our street! Anyways, we were good tenants, been there 3 years and they called us back with a 10% increase instead.

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Response by bsdetector
over 17 years ago
Posts: 9
Member since: Jun 2006

My lease came up for renewal with 1% increase. I declined to renew it due to other reasons. I saw my apartment on market yesterday, priced below my current rent (about 1.5% less)!

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Response by cliff702
over 17 years ago
Posts: 182
Member since: Apr 2007

Our lease came with a renewal offer at the same rent for one or two addtional years.

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Response by Butters08
over 17 years ago
Posts: 16
Member since: Mar 2008

Our lease renewal came with at 5% increase (UES). I called the management company to negotiate and got nothing. So I'm moving out. The apartment is now being advertised for 10% higher. I was obligated to show my apartment while still living in it and so far there have been no takers.

My new apartment in a different neighborhood is much less than I was paying.

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Response by SchwaJizza
over 17 years ago
Posts: 1
Member since: Jul 2007

My management company just asked for a 12% increase on a Union Sq. 1BR. I am pushing back for half of that.

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