Rent reduction-ask and you might receive! (New York, York: section 8, apartment, renters)

[texan2yankee]

Wow, this is a different rental market compared to the previous three years. We just negotiated a 25% drop in our apartment lease monthly rent. We had an option to renew our lease for a 3% increase and instead got a 25% reduction.

My reason for posting this is to let my fellow New Yorker renters know that rental rates have come down substaintially in the last year so you might want to ask your landlord for your rent to be reduced. It doesn't hurt to ask and you may find you get a nice reduction if you are a good tenant.

[NYEconomist]

Good for you! It's great to hear that landlords are starting to see the light. A far cry from the past five years!

[anders]

Originally Posted by texan2yankee

Wow, this is a different rental market compared to the previous three years. We just negotiated a 25% drop in our apartment lease monthly rent. We had an option to renew our lease for a 3% increase and instead got a 25% reduction..

I presume that's a market-rate rent -- i.e., not covered by rent stabilization.

[Mobilemoll]

Funny this thread came about as I did the same thing before moving in to my apt. I did get a tip from the family that was moving out; the father had bought and installed carpet on his dime (and let me keep it ) and cautioned that the landlord might charge more than what they were currently paying. Without snitching, I was able to negotiate.

Also, a family friend renting an apt in a private house just got the landlord to knock off $100!!! per month. She simply told her that she'd have to find a room as she couldn't afford to keep the place. That C note got lopped off real quick! She's been there a good 3 years or so.

These hard times has some landlords thinking of the bigger picture,

[anders]

Originally Posted by Mobilemoll

These hard times has some landlords thinking of the bigger picture,

As my post alluded ... That's more likely if the place isn't rent-stabilized -- such as: where stabilized rent hit $2k (so it was removed from the RS program); or where the place was never covered by rent stabilization, since it's a private house, the building has fewer than six units, or it's a luxury building, or it postdated the stabilization laws.

When a place is unstabilized, the tenants pay market-rate rent, which is whatever the market will bear. Since they've had no rent caps, the landlords probably can afford to shave a few bucks off the current rent. Or they might want to keep a luxury building "populated" ... or they really need a tenant for their private house, two-family, or under-six-units building.

A rent rollback or non-increase is less likely if the place is stabilized -- because legal rent caps have limited the landlord's profit all along.
On the other hand: rent-stabilized tenants have protections that market-rate tenants don't have (such as legal caps on rent increases, and guaranteed lease renewal). That's why many people find stabilized places more attractive to begin with.

[texan2yankee]

My rent is/was not subsidized or stabilized, anders.

[anders]

Originally Posted by texan2yankee

My rent is/was not subsidized or stabilized, anders.

"Subsidized" = low-income housing, Section 8 vouchers and the like, so is a whole 'nother ball game (like "rent control," which barely exists any more).
But rent stabilization covers a big swath of NYers, at all income levels, who pay under-$2k rent in a 6+-unit building that was built pre-'74 (or post-'74, and owner got a tax break).

If a place is rent-stabilized, the landlord _can_ offer "preferential rent," which is lower than the legal rent. But unless that's offered: Rent-stabilized tenants generally won't get too far if they try to cut a deal -- because the LL's profit already was limited by rent stab. law, and because it's not hard to find new tenants for an under-$2k apartment in a 6+ unit building with rent caps, essentially-guaranteed lease renewal (even if you have a dog and a "no pets" lease, if LL didn't object to the pet within three months), etcetera.

[delayman09]

M landlord is planning to sell the building in 2 years & began harrasing us to get out.M wife recently died & I have a disabled son 25 as well as myself.I've been her 19 years and no other place to go.The place is a dump ( We pay 1000 allready.Can he just throw us out? Any input would be greatly appreciated.

[omigawd]

They did a story about this on Fox 5 Good Day New York a couple of weeks ago --- interesting to say the least. The man they interviewed in the segment gave negotiation tips, etc and even helped the host, Greg Kelly, get his landlady to reduce his rent by a small percentage.

I'm sure if you go to www.myfoxny.com and click on the Good Day tab, you'll be able to find the story in the archives.

[justaskin]

i plan on asking for a reduction when i move to ny.

anytips on good places to live in brooklyn? somewhere between Lutheran medical center and wyckoff medical center