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2016: 1 or 2 Year Lease Renewal make more sense?

Rent stabilzed lease renewals and how to apply Rent Guidelines Board (RGB) percentage increases

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2016: 1 or 2 Year Lease Renewal make more sense?

Postby nycrsa1 » Fri Jan 20, 2017 4:41 pm

I have just received my Renewal Lease form from my landlord and am trying to decide whether to renew for 1 year at no increase or 2 years at 2%. I do intend to stay here for many years. What is the thinking or guessing about next year’s RGB increases, with the low increases this year and Trump presidency (possible favoritism to landlords)? What has been the historical increase after such a low increase? THANKS!
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Re: 2016: 1 or 2 Year Lease Renewal make more sense?

Postby TenantNet » Fri Jan 20, 2017 4:46 pm

Of course no one knows about next year. On one hand it's an election year and there will be continued pressure to keep any increase flat or minimal. OTOH, there will be pressure from LLs who - in their sick minds - that they need to go back to the high increases.

I would go with the 1 year and zero percent, and see what happens next year.
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