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Choose 1 or 2 year lease on a new rental?

NYC Rent Regulation: Rent Control/Rent Stabilized, DHCR Practice/Procedures

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Choose 1 or 2 year lease on a new rental?

Postby BobDollar » Wed Jan 20, 2016 3:44 pm

Quick question:

I am signing a new lease on a rent stabilized unit. Options are:

1 year lease @ $1550 per month
2 year lease @ $1585 per month

Obviously depends on increases next cycle, but which would you guys go for?

Thanks!
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Re: Choose 1 or 2 year lease on a new rental?

Postby rentstubq » Sun Jan 31, 2016 2:08 pm

First I would make sure you don't disclose information about your identity (via your username or the quantities in your rent amounts)... :)

Second, if your lease is up now, you realize that there is a 0% increase on a 1 year, right? It's a gamble that possibly next year they will approve higher rates...
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Re: Choose 1 or 2 year lease on a new rental?

Postby TenantNet » Sun Jan 31, 2016 2:32 pm

From what the OP says, this is a new (vacancy) lease. So right now the RGB percentage is moot. What matters is after the vacancy lease expires.
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