Acceptable rent increase?

I assume you're not in a rent-stabilized unit, but for those reading this thread who are stabilized and aren't sure how much their renewal leases can go up, the acceptable percentage increases for this year are on the NYC Rent Guidelines Board's site.

Mary415, you might want to call the Met Council on Housing for advice as well.

@ OP - if its a market apt the LL can raise the rent any amount they choose. thats IF they CHOOSE to offer you a renewal at all.
They are not obligated to offer you a renewal if its a market apt.

as far as the % goes thats truly relative.

if youre paying 1600 for a lovely 800 sq ft floor thru in the center slope with a yard then a 14% increase still leaves it well under market and you should be ecstatic.

if on the other hand youre paying 2000 for a 200 sq ft studio with a view of a brickwall , then the increase is ludicrous.

suggest you peruse a few websites to get a better idea of what youre paying compared to similiar apts.

Subject: rent

I would just pay what the landlord askes at this time within reason of course because if the apt is good with so many people wanting to move to NYC you will be in a dire position looking for a better more affordable apt.

Subject: negotiation

If you have a good relationship with LL, and if you want to stay longer term, you may be able to negotiate 2 year lease with less % of increase of rent each year. It worked for me. But you need to be sure you'd be staying. LL also need a good tenant who pays rent on time and keep place neat.

In a meanplace I totally agree the whole rental (and buying) market in NY is not acceptable...

LongTimeSloper wrote: [quote=brooklynpotter][quote=raw]The whole New York State home renters' and buyers' market is NOT acceptable.

Where are middle class people going to live? I know many middle class people who cannot afford to live in the towns they grew up in throughout the state.

being a renter sucks, because you can't find any place affordable.

now i'm an owner, and there are rent stabilized tenants in our building. one pays less than $200 a month for her apartment, so she costs us money because her rent doesn't pay that apartment's share of building expenses.

there's no winning with this system

Doesn't the landlord or sponsor pay the rest of her share? I am also an owner in a building where there are 2 rent controlled apartments that pay less than $200 per month rent each (they have been here 30 years and 20 years). but, the shareholders (in this case, the sponsor) who own the apartments pay the full maintenance on them just like everyone else.

So, having them in the building doesn't cost us anything extra.

no sponsor. we own the whole place

brooklynpotter wrote: [quote=LongTimeSloper][quote=brooklynpotter][quote=raw]The whole New York State home renters' and buyers' market is NOT acceptable.

Where are middle class people going to live? I know many middle class people who cannot afford to live in the towns they grew up in throughout the state.

being a renter sucks, because you can't find any place affordable.

now i'm an owner, and there are rent stabilized tenants in our building. one pays less than $200 a month for her apartment, so she costs us money because her rent doesn't pay that apartment's share of building expenses.

there's no winning with this system

Doesn't the landlord or sponsor pay the rest of her share? I am also an owner in a building where there are 2 rent controlled apartments that pay less than $200 per month rent each (they have been here 30 years and 20 years). but, the shareholders (in this case, the sponsor) who own the apartments pay the full maintenance on them just like everyone else.

So, having them in the building doesn't cost us anything extra.

no sponsor. we own the whole place

Are you a co-op or a condo? Our co-op organization owns the entire building too (building is in the co-op organizations name, etc.), but, those 2 particular apartments are still owned by a realtor. I guess somehow, ours is a different situation than yours.

Subject: Mine is going up too

My particular problem is this: when we moved in March 06, it was $1500. A steal. 4th and Baltic. The guy who lived there for 6 six years was only paying $1000 when he left. At least that is what he told me. Cut to two years later and the increase is to $1800 for just another year. (It went up to $1600 last year.)

[Back story: we both went through financial hardship, one of us was laid off in September, payments not on time, threat of terminating lease and no renewal. But we're both employed officially in December, we negotiated to have them reconsider our lease and proved our incomes with employment verifications. Our landlord is behind some really big projects in the neighborhood. He wants us to renew with a security deposit (originally we paid only first and last month's rent). We love where we live but if it goes up again next year to $2000, we're looking at over $2400 total becuase we have our own thermostat and our electric bills are high. Is asking for a two year with a security deposit just a ludacrous idea?