Rental Guide

Negotiating Rent

Negotiating Rent

The starting position is that you have a stable job, good credit and a good salary. A landlord wants a stable tenant who pays rent on time.

When an apartment is not rent-regulated, a landlord is free to charge any rent agreed upon by the parties. If the apartment is subject to rent regulation, the initial rent and subsequent rent increases are set by law.

Maximum rent increases for rent regulated apartments are set each year by the New York City Rent Guidelines Board.  In addition, landlords of rent regulated apartments may seek rent increases for certain types of building-wide major capital improvements (MCI) that benefit all tenants, such as the replacement of a boiler or the installation of new equipment.

If you are looking for an apartment during the winter, many landlords will give concessions such as a free month’s rent or agree to pay the broker’s fee. Though inventory is lower in the winter, so is the number of people looking for an apartment to rent. Most landlords would rather have the apartment rented than have it vacant and not have any rent paid at all.