Many renters dread renewal time – and for good reason. Getting huge rent increases is not uncommon in New York City. We get a lot of messages from renters asking us if they should renew or negotiate. We think renters should always try to negotiate their rent. Our position is that you don’t get what you don’t ask for. Keep in mind, if you have a stabilized or Good Cause apartment, you don’t need to worry about steep increases. The law limits how much the landlord can increase the rent. But for everyone else – landlords can increase the rent to whatever they want.
For market-rate tenants, here are some email templates to help you get the rent negotiations started!
Negotiating a steep rent increase
MANY New Yorkers have reported getting priced out of their apartments. If you receive a steep renewal, but you really would like to stay, try negotiating like this:
Hi XYZ,
Thanks for passing over the renewal. I was surprised by this number as similar # bedrooms in the area are renting for around $$$$. I understand the market has changed since last year, but given my good standing as a tenant, I’d love to meet somewhere in the middle. Could we make $$$$ work?
Thanks for your consideration.
Remember, always give them a specific number during rent negotiation (but not the maximum you’d be willing to spend). Leave a little wiggle room for them to come back with another offer. It also helps to point out that you’ve been a great tenant and back up your number with research. You can check openigloo’s Listings feature to see what similar units are renting for in your neighborhood.
When the landlord raises the rent above 5% without the appropriate notice (and you want to stay)
In New York, landlords must give between 30-90 days notice (depending on how long you’ve lived there) if they want to increase your rent by more than 5% or not renew your lease. If you have a 1-year lease, they need to give at least 60 days’ notice. Many renters have reached out to us asking how they can negotiate their rent if a landlord breaks this rule. Try this:
Hi XYZ,
Thanks for passing over the renewal. However, I was expecting the increase to be less than 5%, since we’ve passed the XX day notice window. I’d love to stay, but I’m hoping we can agree on a renewal of $$$$ instead.
Thanks.
Politely point out that you are aware of the rules and give them an opportunity to fix their mistake. Remember, if the landlord misses the notice window, they can still increase your rent. But the increase would go into effect 30-90 days after they tell you. You should still negotiate the rent and make sure they give you the entire notice window!
You want to kickstart the rent negotiation
Perhaps your lease is expiring in a few months, and you want to get a head start on rent negotiations. You have even more leverage if your lease is expiring in a slow season (Winter). If you’re not in a rush to get an answer, you can always wait for them to reach out first.
Hi XYZ,
I hope all is well. I wanted to send a note as my lease is expiring in # months and I’d love to get some clarity on the renewal. I’ve enjoyed my time in this apartment and would love to stay another # years. Given my good standing as a tenant, could we renew at the same rate? Happy to sign a renewal now, if we come to an agreement.
Thanks for your consideration.
It doesn’t hurt to try and ask for a 0% increase and see what they say. Worst case, they come back with a “No” or a different number. If you have a market-rate apartment and are negotiating early, keep things cordial. You may risk the landlord not renewing all together during the rent negotiation.
Of course, some landlords won’t budge with the rent renewals. Then you have to make a personal decision on whether you can tolerate the increase. Whether your rent negotiations went smoothly or not as planned, be sure to share an anonymous review on openigloo and help the next renter that considers your building and landlord.