What's the Secret to Talking My Way Out of a Rent Hike?
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What's the Secret to Talking My Way Out of a Rent Hike?
A tenant considering a market-rate apartment in Crown Heights faces uncertainty about future rent hikes. The landlord is described as wanting a good tenant and allegedly not raising rent, but former tenants report multiple attempts to raise rent by hundreds of dollars and delays or reluctance to make repairs. The tenant wants a two-year lease to stay longer and asks whether anything can be said or done in advance to negotiate limits on rent increases. The response notes that the key question at the end of a market-rate lease is typically how much rent will rise. It also cites rising citywide median rents and limited inventory, suggesting landlords have significant leverage during periods of high demand.
"The question at the end of a market-rate lease these days, though maybe always, is never, “Will my landlord raise my rent?” but rather, “By how much?” And according to StreetEasy's latest report, the median rent in the city has risen by 7 percent from last year, to a record $4,120. With low rental inventory and the coming summer rush of apartment seekers, it's true that your landlord holds most - all? -"
"The Realtor told us the landlord was looking for a good tenant to take care of the place and said the landlord had told her specifically she wasn't one to raise the rent. (Honestly, kind of a weird thing to say.) But my husband, a journalist, tracked down former tenants, and they are all like, “Oh, yeah, that landlord tried to raise the rent $500,” or “Yep, they raised it $700 one year,” or in smaller increments. Another said $350 after the first year ..."
"I'm thinking about asking for a two-year lease, but even then, I will be in trouble if the landlord raises the rent by a ton after two years. We are looking for some place we can stay for a while. Is there anything I can do or say to ... negotiate in advance about this? Is there any way - besides finding a rent-stabilized apartment - to ensure against crazy price hikes?"
Read at Curbed
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