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).
Follow Ups:
Note: Posting is disabled in all archives
Post a Followup