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Re: Rent Renewal

Posted by TenantNet on September 19, 1997 at 10:23:57:

In Reply to: Rent Renewal posted by Keith Evan on September 18, 1997 at 09:34:10:

: I got a lease renewal for my NYC. It has two options. 1-year with a 4%
raise, and 2-year with a 7% raise. What are the limits for these? Also,
it seems if I take a 4% 1-year then get a 4% the next year it actually
works out to be less money over the two years then just the 7% 2-year
lease. Is the two-year lease a gimick?

If you are rent stab in NYC, look at the RGB Orders #28 and #29. If the
renewal occurs after 10/1 then it's #29. No one knows what the rate
will be next year, so it's a crap shoot. You could calculate it as
you did (if the rates stay the same), but figure in the present value
of the money (find an economist for that one).

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