Hi I just got a rent increase on my studio of $100 or 4.3%. Would love to fight this and get it to stay the same of last year. Does it make sense to fight? How would I go about doing that? Market data? Complain about the conditions? Threaten to leave? Thanks for the help!
If $100 is 4.3% of your rent, you’re getting off cheap even for a studio. And no, you can’t fight it. Or, you can, but you won’t win.
Yeah that’s cheap for Manhattan
That’s not that bad but rents are going to be cheaper around Dec/Feb so A good time to look around
Where are you renting a studio in NYC for $2300? That's a pretty good price already, just accept the $100 or walk. If it's not rent controlled the landlord can do whatever they want when the lease is up.
You can politely ask if they can keep the rent the same for xyz reasons but be prepared to pay the new rent or leave.
Thanks for the feedback
You are almost in par with inflation and so accept it. You can ask them to reduce couple of bucks but I don’t do if Iam in your place
Market data shows that rent continues to climb in NYC. Everyone is increasing rent all the time and likely the landlord wants to keep up with the market conditions. It doesn’t make sense to fight because honestly if you don’t want to pay it, someone in NYC will. If I was smarter I would’ve never fought so hard to live in NYC.
No reason to be condescending 🤷♂️
Did U just assume my gender bro
It’s called a market economy. Once your lease is up, you’re free to leave for a better living arrangement and your landlord is free to try to find someone willing to pay his new asking price. If you don’t want to pay ever increasing rent, move to the Midwest
I do have a master in economics thanks for the non explanation on markets. Also the non commoditized markets allow in some cases for price negotiation which is the case here. Given I am new in NY wanted to understand how common such practice is. Cheers!
Don’t threaten to leave, especially if you are in a prime part of Manhattan. It would be stupidity. He could easily rent it out for even more money. Just negotiate. Also consider move out expenses/application fees if you plan on moving out
Thanks for the feedback!
Just leave