How Soon Is Too Soon to Ask My Landlord About a Rent Increase?

Abstract

Q: For nine years, my husband and I have rented a market-rate apartment on the Upper West Side. In June, the median rent in Manhattan was $4,050 a month, up almost 25 percent from the same time a year ago, according to Douglas Elliman. Your new management has made it clear that it plans to raise rents considerably. "The writing is on the wall," said Keyan Sanai, a real estate salesman at Douglas Elliman, adding, "They might hit them with an unfair increase just to get them out." Because you've lived in your apartment for more than two years, your landlord must give you 90 days of notice if your rent will rise by more than 5 percent or if your lease will not be renewed. Write your landlord, asking for information about your lease renewal. If the rent increase is reasonable, or close to reasonable, ask if there is room for negotiation. Perhaps you could lock in a two-year lease at a slightly lower rent than what the landlord requested.