Who reduced rent for the tenants?

I’ve had some tenants ask for reductions, and I’ve given them 10% to 15% off. Lots of folks are leaving the city permanently and it’s very hard to find tenants. Folks on Brownstoner should all sign the Impeach de Blasio petition. Unless we get new leadership, private property owners are going under in NYC. Yeah, it’s only symbolic, I know.

IronBalls

in General Discussion 5 years ago

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donatella | 5 years ago

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Well, I am responding to the original poster. So, to her, I say, if your tenants are in trouble and you want to give them a break and can afford it, do it. But answer those questions I pose first. It didn’t seem like there was any financial emergency from those tenants but they tried to get something out of the situation. I have been doing this for 16 years. I have a very nice place and have had the good luck of getting great tenants who don’t move, whom I take great care of and I have no issues. Part of not having issues is respect for them and insisting on the boundaries which come from honoring our mutual responsibilities., i.e treating them like responsible adults who can manage their own business and not like parents. And to the sermonizers about MORAL RESPONSIBILITIES, save it.

restorationcontractor | 5 years ago

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Not looking to argue or preach, everyone is absolutely entitled to their own opinion. I almost died from Coronavirus so my outlook what is important in this life we are given has radically changed. I sincerely wish you all the best in your endeavors.

NeoGrec | 5 years ago

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Olga P: Your tenants who chose to leave town made a choice that isn’t available to the vast majority of NYC residents (both owners and renters alike). I don’t think you owe them a cent. It was their decision to go elsewhere. I agree with you that, when tenants lose income or entire jobs, other considerations may factor in. But frankly you shouldn’t feel an ounce of guilt over tenants who just opted out. I mean, you don’t pay for their summer vacation when the city gets uncomfortably hot in July and August, right?

RobertGMarvin

in General Discussion 5 years ago

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Reading this thread makes me SO happy that I’ve never been a landlord. Thank goodness for Lefferts Manor’s single family seed covenants.

benoit | 5 years ago

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I did reduced the rent by 30 % . I told my tenant that i’ll keep it like that until it get better . Prefer to have lower it by 30 % that not to get pay .

Guest User | 5 years ago

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For my 3rd part management employer, we offered lease renewals at slight increase, and allowed for negotiating down to zero increase or slight reduction in some cases to avoid vacancy. Not many people want to move within or into NYC through end of June is what we’re seeing. Many tenants able to temporarily or permanently move out of NYC this summer are doing so in our experience

Guest User | 5 years ago

string(1) "3"
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For my 3rd part management employer, we offered lease renewals at slight increase, and allowed for negotiating down to zero increase or slight reduction in some cases to avoid vacancy. Not many people want to move within or into NYC through end of June is what we’re seeing. Many tenants able to temporarily or permanently move out of NYC this summer are doing so in our experience