1 or 2 year lease,,Tenants' Choice?

[Gregg]

Coming into a rent-stabilized apartment, is the Landlord required to offer the tenant their choice of a 1-year or 2-year lease? Or is the possible for the LL to offer just a 1-year lease?

[Lilly]

You have a choice of either a 1 or 2 year vacancy lease. LL will try to tell you that you only get a 1 year lease, but it's up to you 1 or 2 year lease.

[<DiscoStu>]

Yeah, but if you don't have a lease. can't the landlord just say, either a one year lease or nothing ?

[Phil Cohen]

Technically yes you must have a choice of a one or two-year lease. But very few tenants, myself included, ever press the point, for fear of losing the apartment. This could be a well-grounded fear, given the slimy way some landlords act.

[Lilly]

If you feel you won't get the apt if you press the point, then don't even mention it and take the 1 year vacancy lease that the LL has offered you. Upon your lease renewal, then you insist upon a 2 year renewal lease.

[<Hawk>]

Is it always better to take a 2 year lease? What if I take a two year lease this year at 6%, and then they lower the rent increases next time around? What are the chances that they would be lowered?

[Cranky Tenant]

Originally posted by <Hawk>:
Is it always better to take a 2 year lease? What if I take a two year lease this year at 6%, and then they lower the rent increases next time around? What are the chances that they would be lowered?

Yes sometimes it can work out to be cheaper to take a one year lease, and then renew the following year if the renewal rate is lower.6 percent is higher than it's been some years but lower than it's been for other years. It's a gamble.