Huge rent increase on below market value apartment?

amother

Turquoise

Wed, Aug 08 2018, 8:19 am

We have been in our apartment for going on 5 years. We are (for the most part) happy here, though there are some issues but we keep quiet because we are paying less than market value.

Our landlord now wants to raise the rent $200 effective next month. He is saying that because he hasn't raised the rent all this time, and because it's priced so low, this increase is acceptable.

I disagree. I realize that we are getting a steal, but I also feel that it's not fair to suddenly wake up and demand such a jump in one shot, with so little warning.

Am I crazy? Or is this unfair?

watergirl

Wed, Aug 08 2018, 8:25 am

Where are you living? Is it a legal tenancy? I’m not sure such jumps in rent are legal everywhere.
ETA I just read that landlords cant raise the rent until the end of the lease unless you are month to month.

amother

Turquoise

Wed, Aug 08 2018, 8:30 am

watergirl wrote:

In NYC. It's a legal apartment, but not rent stabilized, so I don't think it's illegal.

We are month to month, our lease expired at year 2 and we agreed together with the landlord to proceed without renewing it.

amother

Salmon

Wed, Aug 08 2018, 8:36 am

amother wrote:

Fair? Or legal. Which are you asking. Life is very often not fair.

(I’m guessing here that you’d need to give two months notice if you were to want to leave, on that theory you should have two months notice of a rent increase. That would be rules working ‘fairly’)

SYA

Wed, Aug 08 2018, 8:47 am

In nyc I think the law is rent increases are a max of 3.5% a year or 5% for two years.

It’s supposed to be in writing at the renewal of The lease. If the landlord refused to sign a new lease then it automatically renews the old lease, but you get to cancel on a monthly basis.
From my understanding, if you didn’t raise for several years it’s the tenants luck. You can’t go and raise more to make it up.

Don’t take this as legal advice, you can check your city website or speak to a lawyer to confirm what your rights are.

amother

Slategray

Wed, Aug 08 2018, 11:40 am

SYA wrote:

That’s only for rent stabilized apartments (usually 6-Family buildings or larger). Smaller houses are not regulated by the Rent Guidelines Board.

I think it’s lucky that you didn’t get a raise for several years, and I see the landlord’s point, but it is a lot to swallow at one time. Maybe you can explain that the abrupt difference is a hardship for you and negotiate for a more graduated raise (e.g. smaller amount for now and gradually raise it to the full $200).

amother

Pewter

Wed, Aug 08 2018, 11:52 am

I live in brooklyn. My rent just went up $450. 2 years ago went up $150. Is it fair? No. Can I afford it? No. Is my apt nice? No.
Moving would be an expense too.
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