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2-year or 1-year choice?

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2-year or 1-year choice?

Postby Jessie92 » Wed Jun 08, 2016 3:05 pm

My landlord sent me a lease renewal and gave me a choice. One year lease renewal with a $25 increase or a two year lease renewal with a $75 increase. When I called him to get clarification, he said that the two year lease renewal is a better deal because it ensures that after one year, there won't be a much more substantial increase.

I understand what he is saying but I am already stretched pretty thin and I don't know if I can pay the $75 increase. But it's scary to think I could go through the year with this fairly manageable rent increase only to get slammed at the end of the year with something much higher. Any thoughts on this dilemma? Apologies if this is something that's been discussed before, and thank you!
Jessie92
 
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Re: 2-year or 1-year choice?

Postby TenantNet » Wed Jun 08, 2016 3:13 pm

The 2-year deal might be better if the LL keeps to his word. But how many LL's do that? There is no way of knowing what the LL will do, and since you are not rent regulated, there's nothing to hold him to his word.

Also consider that in 2 years you might not want to continue to live there. You don't know what the future holds.

And, even if the LL has no immediate plans for upgrades that will cause him to increase the rent, there are always unanticipated costs.

Are you sure the apartment should not be rent regulated? Many LL just lie about the status. How many units in the building? Did you get a rent history from DHCR?
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Re: 2-year or 1-year choice?

Postby Jessie92 » Wed Jun 08, 2016 3:48 pm

Thank you, those are really good points. If I understand you right, you're saying that he could sock me with a big increase after the two years anyway, so even if I sign the two-year lease, it's not really longterm protection. What he told me is that he will decide on increases based on how much his property taxes go up.

I am pretty sure it is not rent-regulated - I checked an online database and it was not there. Should I request the rent history anyway? If I do, will he know I've made the request? I'm worried about pissing him off.

It's a two family house but there is also a tenant in the basement.

Thanks so much for the help!
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Re: 2-year or 1-year choice?

Postby TenantNet » Wed Jun 08, 2016 4:34 pm

The LL can do whatever he wants as your unit is not regulated. A 2 year lease is only good for 2 years.

Which online database did you check? Those are often very wrong. If you ask for a rent history he will not know unless he sees your mail. But now you say it's a 2-family house, so there's no chance it's rent regulated. Don't bother.

So you're essentially stuck with the whims of the LL. If you're a 'good' tenant he might be willing to negotiate a reduction if you let him know the increase will be difficult for you.
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Re: 2-year or 1-year choice?

Postby Jessie92 » Wed Jun 08, 2016 6:49 pm

Thank you, that makes sense. I am a good tenant and we've had a pretty good landlord-tenant relationship up till now. Which is part of why I was surprised by this... I don't know what I will choose, but either way it looks like I will just have to trust to his good will.
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