Lease renewal

for example, what if the rent increase agreement could not be reached as Section B below? I, the owner, would like to clarify ramifications before the rent increase amount is first asked to the renter... Thanks in advance!

A. The renter shall have the right to extend the term of this Lease for 1 year commencing September 1, 2014 and ending on August 31, 2015, (the "Extension Term") provided:
(i) the renter gives Owner notice (the "Extension Notice"), in the manner required under this Lease, of the renter's election to extend the term of this Lease by May 31, 2014.
B. The monthly rent payable by the renter during the Extension Term shall be DETERMINED BY AGREEMENT BETWEEN THE OWNER AND THE RENTER AT THE TIME OF EXTENSION.

The extension provision isn't standard. It's pointless anyway, because if you don't want the tenant to renew, all you have to do is demand a rent the renter couldn't possibly agree to.

Who wrote that clause? It sounds like a lawyer who is trying to earn a fee. Since it is not clear to you it probably won't be clear to the tenant. Which means you could end up in court, costing a fortune, only because you signed this lease. But the answer to your question if you cannot agree on a rent for the extension the lease will end. By the way, get a new lawyer. Just for clarification I am not a lawyer but I am a landlord.

CSN may be a landlord, but so am I, and the clause is certainly not pointless. As a landlord I don't like it. If I were a renter, I would insist that the rent for the second year be spelled out. As a landlord, what I don't like is that this tenant is essentially asking to be guaranteed a second year. Many times I have been glad that I could get a problem tenant out after 1 year. If the landlord tried to ask a ridiculous rent to get rid of the tenant, the landlord risks losing in court. And I'm a landlord who has taken tenants to court a few times. The court isn't going to let you get away with doing things in bad faith. Upshot: as landlord I would not agree to what is essentially a 2 year lease unless that's what I want, and I have screened this tenant thoroughly and found decent FICOs.

When I first leased, I signed a then-standard "Blumberg" lease (a pre-printed 'standard' NYC rental lease). What has significantly changed that you can't use one of those?

Wow, Flutistic sounds like a great landlord.

It sounds as if the previous owner of the OP's condo signed the lease, and now the OP is trying to figure out what she's taken on.

Again, there is no extension if the two parties can't agree on a new rent.

If the owner wants to keep the tenant for another year, he can offer a market rent, and the tenant can accept or not.

If the owner doesn't want to extend the lease, he can offer an above-market rent, and hope the tenant won't accept.

If the tenant doesn't want to extend, he can either fail to give notice or not accept the new rent.

I'm pretty sure the tenant wouldn't get far in court complaining that the owner's demanding too much rent. What's too much? What's bad faith?

Exactly. Not to mention that most people, except of course inoitall and Ottawanyc - the Perry Masons of Streeteasy - aren't so eager to actually file a real lawsuit. Maybe S***** G******** is the exception, you know who I'm talking about NWT ...

BTW, the last of her many cases has been disposed of, her appeal having failed: https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=kfTs9jVSISAN8fnPFSt3sg==&system=prod

Once she's paid the final ~$48,000 for the condo's legal fees (plus 9% interest) she can go on to other things. She's using K***'s last name for work.

Aarib2, the Blumberg lease is fine except it is incomplete to protect both the landlord and the tenant. I add an additional rider that takes care of omissions and clarifications.

Flutistic, I did not say the clause was pointless. It is written so poorly that it leaves items in question. I have in my rider information on renewals which is very clear to everyone since it is written is plain English. My tenants average over 4 years in my apartments and most are on 1 year leases.

csn, I said it was pointless. Both parties are effectively in the same position they'd have been in if the renewal clause wasn't in the lease.