Posted by Grace Testani on February 04, 1998 at 19:11:37:
My neice is trying to get an apt in NYC (having just graduated from college). She has found a doorman building in the 2o's and Park Ave with A/C and dishwasher included.
the rent quoted for this 700 sq ft one bedroom is $1750.
This is the deal the broker has presented.
She was originally to pay the broker 15% of the first years rent.
She negotiated him down $350 off the top and then 6 months worth of the
second years rent increase which amounts to about $600. Their lease is a 2
year lease and the second year the rent goes up 5%
(1) is this a reasonable fee for the broker
(2) Can the landlord extract a 5% rent increase WITHIN a 2 year lease?
I have lived in NY City for 26 years and have never heard of such a thing. I thought one of the the purposes of a lease was to prohibit the landloard from jacking up the rent (at least for the duration of the lease.)
Your help is very much appreciated.
She needs to make a decision ASAP.
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