Posted by Diana on August 03, 2001 at 22:56:39:
In Reply to: 4% annually long term? posted by Winifred on August 03, 2001 at 09:43:54:
: I am about to sign a lease for a live/work loft for 7 years, and the LL has built in a 4% increase every year.
: 1. Does this sound like a lot, or is it fair?
: 2. Where can I find the NYC average for last 20 years?
: Thanks in advance!
Sounds reasonable for NYC residential. Compare it to the Rent Stabilization increases which you can find by starting on tenant.net homepage. (hint: 4% next year & this year, 2% year before, etc.)
Try some commercial rent websites to compare with commercial increases, or call a commercial broker.
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