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Fair Increase

Started by davidgrubb
over 10 years ago
Posts: 0
Member since: Dec 2013
Discussion about
Advice please; is a 5% increase in rent reasonable for the following: Location = Downtown Brooklyn, 51 story tower, 5 years old Apartment = approx 690 sqf, 1 bedroom, high floor, views south over brooklyn, modern appliances Current rent = 3320 This is the end of my first year at this location. I recall being told the rent usually increases around 1 to 2%, I wasn't expecting to be 5% - wishful thinking? : )
Response by fieldschester
over 10 years ago
Posts: 3525
Member since: Jul 2013

David, join us tomorrow on Fulton Street for a game of 3 Card Monty.

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Response by bramstar
over 10 years ago
Posts: 1909
Member since: May 2008

Unfortunately there's no such thing as 'fair' when it comes to market rentals. Landlord has the right to raise the rent whatever percentage he sees fit; you have the right to move. That said, there is no harm in trying to negotiate. If you are a good tenant he *may* consider shaving off a point or two.

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