I live in a big building with a big mgt company. My lease was to renew last sept 1 and I called the mgt company just before renewal packages were set to go out and I asked how much they were going to raise us. They said 15%, I said that's rediculous and they said that's market value, so I said it's market value only because you have 3 buildings on our street! Anyways, we were good tenants, been there 3 years and they called us back with a 10% increase instead.
My lease came up for renewal with 1% increase. I declined to renew it due to other reasons. I saw my apartment on market yesterday, priced below my current rent (about 1.5% less)!
Our lease renewal came with at 5% increase (UES). I called the management company to negotiate and got nothing. So I'm moving out. The apartment is now being advertised for 10% higher. I was obligated to show my apartment while still living in it and so far there have been no takers.
My new apartment in a different neighborhood is much less than I was paying.
Any thoughts on negotiating the amount of the the increase for apartment with good tenants big building with a managment company running it?
I live in a big building with a big mgt company. My lease was to renew last sept 1 and I called the mgt company just before renewal packages were set to go out and I asked how much they were going to raise us. They said 15%, I said that's rediculous and they said that's market value, so I said it's market value only because you have 3 buildings on our street! Anyways, we were good tenants, been there 3 years and they called us back with a 10% increase instead.
My lease came up for renewal with 1% increase. I declined to renew it due to other reasons. I saw my apartment on market yesterday, priced below my current rent (about 1.5% less)!
Our lease came with a renewal offer at the same rent for one or two addtional years.
Our lease renewal came with at 5% increase (UES). I called the management company to negotiate and got nothing. So I'm moving out. The apartment is now being advertised for 10% higher. I was obligated to show my apartment while still living in it and so far there have been no takers.
My new apartment in a different neighborhood is much less than I was paying.
My management company just asked for a 12% increase on a Union Sq. 1BR. I am pushing back for half of that.