Me and my partner just went through something like this as tenants in May when we renewed our lease for our second year. We are in the "cheaper" area of Manhattan so our nominal increase was half of that but it represented 33% increase which definitely was a sticker shock at first. A couple of observations:AnnetteLouisan wrote: ↑Sat Jun 11, 2022 7:28 am Relative is a NYC landlord in a pickle. Rents went way up in the highly desirable and trendy area, a tenant’s lease is expiring who has only been a tenant for one year and is not indigent or middle income. Not a regulated/stabilized/controlled apartment. Market is now $2k above what tenant is paying.
It’s kind of a hard conversation to have and landlord is a nice guy, was never in this situation before because he always charged market so always renewed at the same rent. It’s just with inflation, eviction moratoria, etc., the market is now what it is. All the other apts in his bldg get $2k more. And some in the area get $3-4k more. How to handle so as not to unduly piss off tenant? Landlords costs did not go up that much.
1) We did not take offence in getting a simple email from owner's broker that was very similar as someone suggested above. We would actually be weirded out by a personal visit or even a phone call - too personal
2) Sure we got angry at first but we admitted that we were getting a great deal and now knew ahead of time that it won't last forever
3) We did a quick search and realized that we are getting a fair market price, but a bigger space in this particular coop. Moving to a smaller place to save a couple hundred didn't make sense and we are not ready to leave the city or buy anything here as well
4) we negotiated a little discount which made us feel better
5) if next year the increase is higher than 200-300 we would consider moving
Hope this helps