Posted by brenda on May 29, 2000 at 23:46:13:
In Reply to: Re: Two-year renewal? to avoid same lawsuit posted by Anna on May 28, 2000 at 11:08:57:
: : Just a naive question, if you don't mind -- why would a tenant be wise to choose a two-year renewal?
: : In recent years it has made more economic sense to choose one-year renewals, because of the lower increase. Since a landlord must renew the lease, why renew for two years if one year makes more economic sense?
: Economic sense as far as RENT goes, but tenant will be exposed to new Golub Notice and new expensive lawsuit in less than one year. Golub can only be done in same window period as Lease Renewal Offer: 120-150 days before end of lease in NYC.
Actually I meant that question in a general sense--I thought the fellow was saying that generally it is better for tenants to choose two-year leases.
Afraid I dont understand the Golub notice stuff, as I am not a lawyer, just a tenant with a lease facing renewal.
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