Tenant in brownstone currently on market

3:08 > I'm paying $2600 for a 3/2 duplex in South Stuy. This seems to be $500-800 over comparable units in the same area. However, my floor could potentially be a single floorthru unit, and that makes my half of the rent comparable to floorthrus in the immediate area.

Both my roommate are "IDEAL" tenants. We have a very good relationship with the owner. We were in the home through renovations prior to her move-in and are on our second lease.

3:24 > This is a helpful suggestion, and such a scenario came up in discussion with my roommate.

Posted by: Tenant at March 4, 2008 3:45 PM in response to Tenant in brownstone currently on market

Thanks for the feedback. Based on the information I can find on Craiglist and with broker sites, I am paying above market rate for Bed-Stuy and comparable to market rate for Clinton Hill / Ft. Greene.

Posted by: Tenant at March 4, 2008 2:04 PM in response to Tenant in brownstone currently on market

4:16,

You have no idea what you're talking about. Most of you knuckle heads are trying to tell the OP how to "get over" instead of trying to make the best of the situation.

OP, if you indeed like the place, you need to be in communication with the owner. Ask the owner to keep you informed about the potential buyers. Try and meet the buyer and see where their heads are. If they want to keep the unit as a rental, let them realize that YOU are their best option.

In terms of being realistic about your future. I'm sure you don't want to live in a hostile environment. The new owners will be obligated to honor the lease until Dec. '08 unless there is a clause that goes into effect as a result of a sale. After that, they can choose to begin holdover proceedings to get you removed from the house. Don't be fooled to thinking that a judge will allow you to stay. The judge will be fair, and won't throw you out, but he will tell you that you'll have 30 days to find suitable living.

Posted by: guest at March 4, 2008 4:27 PM in response to Tenant in brownstone currently on market

This thread is pathetic. Most commenters are indeed advising the tenant on how to get over on a new owner and extort him/her. One of you idiots even went so far as to suggest the tenant lie and say there is no lease. Do you think the owner wouldn't have a copy of the lease?? Of course they have a copy of the lease. Ridiculous.

If the tenant is market-rate (i.e., not rent-stabilized) then a landlord is under no obligation to renew your lease once it expires. If you truly think you can force a landlord to continue to rent to you simply because you don't want to leave, and you are looking for ways to extort said landlord, then you are an unethical scam artist. And all you sickos who are suggesting the tenant do this are even sicker.

And FYI, I am a longtime NYC tenant, not an owner.

Posted by: guest at March 4, 2008 4:46 PM in response to Tenant in brownstone currently on market

4:27 is right. Did happen to us when we bought the bldg with tenant. We waited until the lease ended and not renewed the lease. We have stopped accepting the rent after that and took her to court. Yes, she has been properly informed that this will happened and she had few months to move out. Guess what- the judge gave her two months to move and pay the back rent. And we did not do it to be mean, we had to renovate the whole house, no joke, and having the tenant in place would rather make it impossible, so we showed the judge the approved plans for renovation and she made the right decision. On the other hand nobody wants to go thru this process, specially if you can find a next nice apt for yourself. Too early to judge if you even have to move out, the new owner may want you as tenant if they do not plan to extensively renovate the place for themselves.

Posted by: guest at March 4, 2008 4:56 PM in response to Tenant in brownstone currently on market

"That is why a smart owner will induce a renter to leave voluntarily with a nice relocation package (ie: cash)."

Not true. That only applies when a landlord has to buy-out the lease of a rent-regulated tenant (stabilized or controlled. If you're a market-rate tenant the landlord will not throw any money your way unless he wants you out BEFORE the lease expires. And a judge will rule in favor of the landlord, as 4:27 says, and will give you a month to get out.

Posted by: guest at March 4, 2008 4:57 PM in response to Tenant in brownstone currently on market

OP says "As a renter, I'm not sure of my rights."

If you are not a rent stabilized tenant then once your lease expires you have no rights. Unless you want to become a squatter and then fight your landlord in court. No judge will support you since you are in effect breaking the law.

Posted by: guest at March 4, 2008 5:10 PM in response to Tenant in brownstone currently on market

Moving is a pain, but try to be positive about it. I know people who have bought homes who were happy to keep good tenants - one less thing they had to deal with, and they had rent money coming in from the day of closing, not a few months later. They also didn't have to think about what renovations they'd have to do on the place to spruce it up to attract new market-rate tenants. That was worth more to them than potentially raising the rent. A lot of first-time (and other) buyers are really streched for cash when they close.

So, ask your current landlord to tell potential buyers (or the broker to tell them if they're using a broker, or talk to the broker yourself) that (1) there are tenants who are excellent tenants who would be happy to rent from the new owners, (2) that they are paying a nice rent, and are willing to work with new owners (implies willing to negotiate with them if market is then a bit more - beats moving) (3) to please keep in touch with you so you can plan ahead.

If it gets sold to someone wanting to renovate to a single family or to make your place two rentals, all is not lost. They may not have the money to do the renovations right away (and even if they do, may be lining up architect and/or contractors - this can take months) - and so may be willing to keep you for awhile, months (or years) until they are ready (if I were buying and planning on doing this, I'd do that, rather than find new, short-term tenants I'd then have to kick out in a matter of months, or 1 year after their lease was up - that's a harsh thing to do to someone you've just rented to.)

Don't "demand" a big relocation - that's a real turnoff and might backfire - just try to negotiate some money (and the other stuff mentioned by 3:24) when the time comes, as easier, cheaper and quicker for them, but no sounding like you've decided to dig in and not move unless forced out. (If they are renovating right away, they likely are not strapped for cash and you CAN negotiate.)

If you seem like a responsible type, the new owner is going to figure that you aren't wanting to go through an eviction and have that show up on records, so your best bet is relatively friendly bargaining - take the attitude with them that you "just want it to work out best for everybody." (Used this in negotiating severance from a job once - worked well.) Hell, if you remain friendly or neutral to them, they may even feel bad about kicking you out and have friends with places to rent who will rent to you. (Landlords have been known to do that.)

Not a landlord (but would not be an a-hole when/if I were one)

Posted by: guest at March 4, 2008 5:21 PM in response to Tenant in brownstone currently on market

I'm sorry, but to all those who are suggesting "relocation cash": once the lease is up the landlord DOES NOT have to "negotiate" anything with the tenant!!! The landlord can go to court (just time consuming, but no big deal) and have a judge order your ass out. Period. You are not entitled to any cash or other payments if you are not rent-regulated.

Posted by: guest at March 4, 2008 5:29 PM in response to Tenant in brownstone currently on market

Prior to purchasing my home, back when the landlord tenant courts were even more lenient with tenants, I thought that I would be slick and have the landlord "make me an offer." I stopped payinig rent and told the court that it was because the landlord didn't make requested repairs. This dragged the process out for about eight months. Bottom line was that the eviction was eventually ordered after numerous "orders to show cause" and "72 hour stays", I lived in a hostile environment for almost a year, had to take days off from work to go to court and a judgement was entered against me which was reflected on my credit and which is why I was intially denied a mortgage. I had to pay the money to satisfy the judgement and it took ten years to get that crap off of my credit. I was listening to my ghetto ass sister-in-law who BTW is now 65 still scheming and still living in the PJ's. It was not worth the trouble.

Posted by: guest at March 4, 2008 5:53 PM in response to Tenant in brownstone currently on market

If you're paying more than market rent (500-800 more for a comprable unit). why not move to a comprable apartment at market rent and save your self some cash...DUH.

Why are you throwing your money away?

Posted by: guest at March 4, 2008 6:02 PM in response to Tenant in brownstone currently on market

Given that the poster says floor thrus would go for $1300, I took that $500-800 a month over market with a grain of salt. (And anyway, 6:02, moving is very expensive if you have a floor thru of furniture and stuff.)

5:53's comment is a good one. Which is why friendly negotiation is best - while you are entitled to nothing, landlords with any sense know that it takes months to evict, and might be willing to give you something to move it along faster. Especially if they want to start renovating your place even BEFORE your lease is up (they might, and then you DO actually have real bargaining power.) Contrary to what 2:59 says, time IS a big deal to landlords - it can equate to money - especially if they are living somewhere else - that's costly - and attorney's fees certainly are money.

Good luck. And do find out what your rights are - so you won't be misinformed - look up metropolitan tenants council (met council).

Posted by: guest at March 4, 2008 6:27 PM in response to Tenant in brownstone currently on market