Skip Navigation
StreetEasy

1yr or 2yr lease in this climate?

Started by girlyapartment
almost 17 years ago
Posts: 1
Member since: Mar 2009
Discussion about
With apartment rents going for $200 or so lower than last year, should I sign a 2yr lease and lock it in? My broker thinks I may be safe with a 1 year, that rents won't go up by next April. What do you guys think?
Response by manhattanfox
almost 17 years ago
Posts: 1275
Member since: Sep 2007

1 yr

Ignored comment. Unhide
Response by crescent22
almost 17 years ago
Posts: 953
Member since: Apr 2008

Even if you got a 5-10% cut built into a 2nd yr, economic uncertainty should dissuade you from taking on a 24-month liability.

Ignored comment. Unhide
Response by mutombonyc
almost 17 years ago
Posts: 2468
Member since: Dec 2008

1 yr lease rents will not be going up ANYTIME soon. And it will give you room to renegotiate*.

Ignored comment. Unhide
Response by Slope11217
almost 17 years ago
Posts: 233
Member since: Nov 2008

I agree. 1 year.

Ignored comment. Unhide
Response by iMom
almost 17 years ago
Posts: 279
Member since: Feb 2008

You can do a 1-year lease with the option to renew for another 12-months. Have your cake and eat it too.

Ignored comment. Unhide
Response by Derek
almost 17 years ago
Posts: 30
Member since: Nov 2007

1 year lease with option on 2nd year and prenegotiated 0% price escalation clause. You can negotiate this term against smaller landlords

Ignored comment. Unhide
Response by lo888
almost 17 years ago
Posts: 566
Member since: Jul 2008

Agree with Derek.

Ignored comment. Unhide

Add Your Comment

Most popular

  1. 2026
    9 Comments
  2. sub tenant in place
    13 Comments
  3. Leveling floors
    20 Comments
  4. New Casinos
    25 Comments
  5. Dentist and gold crowns
    23 Comments