Forum
« Removing a Need from a Deed Who cleans your (gas) boiler? »
September 30, 2008
Standard rent increase??
My landlords just increased my rent from $1600-$1850, making that a 15.6% increase. I'm a month-to-month renter, so i know they have the right to raise it to whatever they want. However, that is way above standard, can I negotiate?
Comments
Everything is negotiable if the law doesn't provide an answer. For the most part, this boils down to how your rent compares to market. Can the landlord actually get $1850 from someone else? Will you have to pay $1850 if you move into a comparable place? If so, you might be in a pretty weak bargaining position.
If you have been a quiet, thoughtful tenant who pays rent on time and doesn't complain all the time, the landlord will probably give something up to keep you. Don't be shy about pointing out what a good tenant you are if it's true. Landlords are scared of ending up with nighmare tenants, and if you're good they will want to keep you.
In the end, don't threaten to walk unless you are prepared to do so. Price what it would cost to move, make sure you can do it, and then tell the landlord you are going to walk. Then the negotiation begins.
Posted by: lechacal at September 30, 2008 8:09 PM
Wow actually agree with lechacal for a change.
You are @ weak bargaining position if this apt is in a desirable location, and as you've mentioned in a market rate unregulated apartment the Landlord can charge whatever they want basically. We think the "negotiation" here is one in which the landlord clearly has the bulk of the advantage and so please be gentle in your approach. With luck he may cut you a slack.
Now having said that depending on where your place is a $250 increase is very common if not reasonable. When we lived in Manhattan (Colombus Circle) the landlord raised our rent by 35% because well off bankers from Europe liked the building and location. We ultimately managed to negotiate it down to about 24% and moved to Brooklyn the following year :)
Goodluck.
Posted by: pierre de taille at September 30, 2008 9:21 PM
Your user profile says that you're in Cobble Hill. If you have a nice apartment there I would think $1850 is in line. It could be that your landlord feels that he's behind in the market and wants to charge what the apartment is really worth. You may have paid a lower rent in the past too and hadn't thought about it until now. Talk with your landlord and make a deal if you can, that is, if you really want to stay. Good luck.
Posted by: Rick at October 1, 2008 7:15 AM
Thanks all for advice. Yes, I am in Cobble Hill and realize they want market value. It's fair, i know. We have been amazing tenants: always paid rent on time, walk their dog, and watch their son often - for free. It was just a shock for it to go up so much. Especially when I've noticed rents going down in this economic climate. Ideally, we'd like to live somewhere else. There's a place that's larger across the street for $1900. I'm checking that out today just to see where we stand in the neighborhood. Definitely will try to negotiate, we are quite friendly with the landlords, and staying is cheaper than moving.
Posted by: elizabeth455 at October 1, 2008 10:21 AM
Rents have not gone down Elizabeth. They have gone up ! As a landloard , with the high prices of gas, eletricity, rising property taxes, we may also go up a bit more than usual next year...good luck.
Posted by: crownheights2007 at October 1, 2008 10:26 AM
So sorry Elizabeth. Definitely talk to your landlord. As crownheights2007 says, cost are going up all around and I can understand them wanting to offset their expenses with a higher rent. And since they are within market, it s a good indicator that they are reasonable. If you are already walking the dog and watching the kid, maybe you can formalize those services and assign the value against the rent? Dog walkers and babysitters are well paid in this city. You should also think about signing a lease, whether you stay or move. A month-to-month arrangement puts you in a very vulnerable position. Good luck!
Posted by: I_haz_TWO_toilets at October 1, 2008 10:36 AM
http://www.nytimes.com/2008/10/01/nyregion/01develop.html?hp
Posted by: elizabeth455 at October 1, 2008 1:19 PM
Insurance rates & water rates have also gone up. Some analysts think that, with fewer people able to buy, rentals will be more desireable & therefore rents will increase.
Posted by: Arkady at October 1, 2008 1:33 PM
If you choose to stay and pay the increase, forget the dog walking and babysitting for free. As a landlord and pet owner (no kids) I know how valuable that is! A dog walk runs about $20-25 and God knows how much babysitting is. Not to mention, finding someone you like.
Posted by: rh at October 1, 2008 3:14 PM
Elizabeth -
This is a troubling situation, especially considering the part about walking their dog and watching their kid. Landlords can really be jerks. May i ask for more details re: sq. footage? Im assuming this is a 1BR. If this apt is over 500 sq ft, 1850 isnt that far out of line in cobble hill. i know, it sucks, but cobble hill isnt a cheap area unfortunately...
Posted by: bktycoon at October 1, 2008 3:17 PM
tell him you want to move out if he raises it. And see if you can meet in the middle.
Posted by: Santa at October 1, 2008 3:37 PM
The landlord is running a business. His business expenses (mortgage, utilities, etc) have most likely gone up, so his fee for services (providing a house) have gone up.
Don't take it personally. He can easily find a replacement that can pay that amount, and be on time each month, and probably walk his dog too. You don't hold any bargaining chips.
Posted by: diego at October 1, 2008 3:56 PM
bktycoon - yes, a small 1 bedroom in a narrow brownstone. it's about a 14" wide building. it's definitely no larger than 500 sq ft.
if we do stay and pay the increase, am i entitled to a new paint job (or is that only for stabilized/controlled apts? we've been here 3.5 years and have not asked for any fixes in the apt. and it could definitely use some. my fault for not signing a lease, as they would non have been able to raise the rent until march of next year.
Posted by: elizabeth455 at October 1, 2008 8:04 PM
I think you should look and compare for the price you are paying. I like the comment from rh. I'm a landlord too and I value good tenants: both commercial and residental and I raise rents based on how much my taxes, insurance and utilites go up rather than on market rates. I like to keep good tenants. So there is a lot of advice out there but if you have an alternative place that you can move to, then your bargaining hand is stronger -- but not a guarantee. Don't try to bluff because if they call you, either you are forced to move out from embarrassment or you look like a liar.
Posted by: Iknow at October 2, 2008 9:30 AM
When my tenants lease was about to expire he wanted to know if I would drop the rent by $400. a month. He is an investment banker and said his bonus will be very little this year.
Meanwhile all the banks went south.
I should have put 2 and 2 together and got my money out of the stock market but I didn't.
It never occurred to me to go deeper into the conversation.
Obviously he knew something and I didn't read between the lines.
The apartment is vacant. Do I care? No.
For me it is an opportunity to renovate my apartment and use the extra one till the work is done,
It is all in the same building.
Posted by: Ysabelle at October 2, 2008 11:25 PM
Post a comment
Please be patient while your comment is published. It may take a moment.