Standard rent increase??

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 in response to Standard rent increase??

http://www.nytimes.com/2008/10/01/nyregion/01develop.html?hp

Posted by: elizabeth455 at October 1, 2008 1:19 PM in response to Standard rent increase??

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 in response to Standard rent increase??

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 in response to Standard rent increase??

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 in response to Standard rent increase??

http://www.nytimes.com/2008/10/01/nyregion/01develop.html?hp

Posted by: elizabeth455 at October 1, 2008 1:19 PM in response to Standard rent increase??

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 in response to Standard rent increase??

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 in response to Standard rent increase??

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 in response to Standard rent increase??

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 in response to Standard rent increase??

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 in response to Standard rent increase??

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 in response to Standard rent increase??

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 in response to Standard rent increase??