Hi everyone, I live in the San Francisco Bay Area and I'm moving to New York in the next couple of months.
Of course I see many apartments that are now $500-$800 less than what they were before the pandemic (based on Zillow rent price history for example).
If I sign a 1-year lease now, I'd assume that the landlord will go back pretty quickly to a much higher rent in 2022 if the market goes back to normal. From what I've read, in New York there is no regulation that limits the percentage of a rent increase, so I would expect that if in 2022-2023 the market will go back to 2019 levels, landlords would obviously increase the rent a lot in a short period of time.
I'm trying to be careful and take this into consideration when setting my price range, but I would love to know your opinion on this, because I also don't want to be too conservative and miss some good opportunities.
Thank you in advance