Posted by Mark Smith on May 19, 1999 at 01:12:09:
In Reply to: raising rent for an eternity posted by Vivienne on May 18, 1999 at 21:26:57:
If the apartment is not regulated, there is no limit to how much rent the landlord can ask. However, you should see what the rents are for comparable apartments in the area.
If your apartment's rent is at or near that for comparable apartments, negotiate with the landlord. This is better for the tenant than agreeing to an excessive rent or moving out. If you and the landlord can agree on a rent, you don't have to incur the costs of moving and paying a broker's fee for a new apartment and the landlord doesn't have to look for a new tenant and have a possible vacancy.
: This may seem naive but can (and does) a LL raise the tenant's rent (unstabilized) every year. It seems plausible for a couple of years, however, at some point there has got to be a cap, right? I've been living in my apartment for three years with yearly rent raises of 5%-7%. It seems absurd for this trend to continue, the apt wouldn't be worth that much.
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