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anon_0k9zlfz6lz9oy
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Manhattan is an anomaly. Office space vacancies nationwide even pre-corona were crazy. Investing money into office space right now/past number of years was basically like lightning money on fire
OT: So I asked my Landlord for a 10% Rent Decrease on my NYC apt
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Boston, SF, LA, Seattle, even Chicago and Philly to name a few. Suburban office never took off. Dogs are mostly in Texas.
Huge swing and miss. Think of something else.
What's you next best alternative?
NYC will be a ghost town with DeBlasio, Covid and business failing from being closed.
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anon_ivydyf0amkzay
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anon_ivydyf0amkzay
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Any city who does this should never ask for a penny in federal assistance especially if said city was the victim of self inflicted damage (like once beautiful Minneapolis)...such stupid actions have consequences and if that’s the bed they made, they should be comfy enough to lie in it. Then again this is the state that elected that Somali woman to Congress. Stupid seems encoded in their behavior.
In these situations, you only threaten to leave if you’re prepared to actually do it if you don’t get what you want. At the end of the day, if they feel like they can replace you easily, you’re SOL
I didn’t miss at all. I hit it out of the park. Right over your head, out there in right field. :Wink:
You really do have a real nice place with a great view and just a hop/skip/jump to Grand Central. Of course you should talk to the real decision makers and see what they say. What do you have to lose? In the interim continue to look around but that's a great view to give up. Hope you're staying safe.
Counter that you'll go month to month at the current rent. I just read a NYC real estate article that said this is the norm. Manhattan rents are down 2.5 pct since the lock down orders. You don't want a long term.lease in this environment. NYC landlords are considering month to month arrangements now.
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anon_ivydyf0amkzay
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Maybe the mental midget is waxing nostalgic about the good ol days of the late 70s and early 80s, when nyc was a vile, gross, crime riddled shithole. Like Minneapolis now, NYC needed and wanted a bailout from the feds in the mid 70s and Pres Fords response was something to the effect “drop dead”...
but hey defund the police...then we can all sit back and watch the catastrophic fail...and it would be! Mass migration out...commercial real estate empty or unused...crime, shootings, filth, rampant homelessness, drugs.
maybe amazon (or was it google?) should send that dunce AOC a thank you basket for helping them choose NOT nyc.
Commercial real estate is absolutely going to take a bath. Just this week, I heard from a family friend who works in Manhattan for a publisher who now has the option to work at home indefinitely. A relative was given the same deal. A friend said that her company will be renting one less floor in the city and continue to have people work from home. If my small sample size is any indication, I think commercial real estate is in big trouble.
Scarlet Jerry
Scarlet Jerry
My daughter is moving out of her apartment in the upper east side. Most landlords are offering her a free months rent to move in. Some are offering 2 free months for a 14 month lease. Some are offering both that and only a $1000 security deposit. Still after all of that as her dad i cant believe she cant find a decent studio under $3000.
Tech tenants are driving up demand for office space. They all have the option to work from home long before the pandemic. The biggest impact will be on malls and hotels. Office in top MSA will be fine in the long term. The one change will be the density. Everyone will have more space in the office and not everyone will be required to be in the office. Young people will still want to be in the city.
Rent 1 of your unused apartments to Al, you get income, al gets An apartment, and you both get the satisfaction of telling als apartment co. To go scratch. Easy peasey.
Al - depending on how your escalation goes, it sounds like asking for 13 months for the price of 12 is reasonable since they are offering it elsewhere. Good luck.
this is a scam. What you’re actually doing, is you’re paying 13 months of rent over 12 months. At least that’s what my landlord made me do in Year 1.
for me, it was 13 over 12.
that’s part of the scam. It doesn’t revert back. The Best you can do
Is negotiate something slightly less than what you paid in year 1. Believe me, I tried. And part of the Reason I asked for a rent reductIon. They know once youre moved in, you’re less likely to move out. And because mine is a luxury apt it isn’t subject to rent control.
To decide if it's a scam or not, do the math.
Using simple numbers, if you pay $1000/month for rent today, and nothing changes, it will cost you $13000 for 13 months.
If your landlord offers you 13 months for only $12000, you're basically paying nothing in that final, 13th, month. You may get locked into the lease for an extra month, depending on the specific terms of the lease. Which you might not want to do. And most likely, the free month will occur at the end of the lease (something you could negotiate if you wanted).
As long as the terms of the lease are expressed clearly, you can easily compute your savings, the timing of said savings, and your other obligations under the lease.
Not sure how that's a scam. Might not be what you want, and that's fine. But not being what you want doesn't automatically mean it's a scam.
that’s not how it works. You’re paying $13,000 over 12 months, using your example, so you’re not actually getting a free month.
Sounds like a bit of a conundrum.
How about you organize other luxury tenants in your building to work together as a group to negotiate renewals with the landlord?
This may not make you popular with Building Management so you should keep an eye on opportunities to move out.
Then they are not offering you any free months at all. They are doing the opposite of offering you free months and "offering" you a rent hike.
If they represent that as free months, then yeah, that's a scam. An incredibly obvious and insulting scam.
It's like what Poland Spring did years ago, when they sent us all letters telling us the great news about their new super-ergonomic 5 gallon bottles. They spent a whole letter telling us all about the research and ease of use, etc. Then at the end, they tell us the good news is that we won't have to pay a single penny more than we've been paying all along for these great new bottles.
Only the current bottles were 6 gallons. So we were now going to be paying what we used to pay for 6 gallons of spring water, for only 5 gallons.
That was a scam, of sorts. Very obvious, and so we all had the choice to accept the price hike or not. But it was kind of insulting that they didn't think people would notice.
Agree with post...but can't like it cause I miss malls and my old life!
MO:Eyes: :See:
don't need the money or aggravation---and one of kids is in one
When I was in law school we negotiated the rent down in a doorman building because it was a recession.
Good luck...I think given the recession there's a decent chance.
Good luck...I think given the recession there's a decent chance.
I've lived in NYC for 10 years.
They're not lowering your rent. Other things may be up for negotiation, but lower rent, no. That is just the world we live in, honestly no matter what city you live in really.
They're not lowering your rent. Other things may be up for negotiation, but lower rent, no. That is just the world we live in, honestly no matter what city you live in really.
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A few things to consider.
landlords are often on ego trips and they don’t value tenant retention. By moving out, they have to make repairs, pay a broker fee for a new tenant, have the risk of it becoming vacant (especially for 1/2 month), risk a bad new tenant. I’ve always mentioned these things why renegotiating and it tends to work in my favor.
min the post covid world where more people will be working from home will see people love out of the city. No commute, lower costs, bigger spaces. If the landlord doesn’t realize this, they’re being silly.
From your perspective, if you decide to love out you have to consider the time you’ll spend searching for a new apartment, brokerage fees, and moving expenses.
I don’t know what your rent is like but a 10% in NYC can be $500. You can always try a fixed amount. Instead of $4200 per month, how is $3900. Also, try to commit to a longer lease vs 1 year.
landlords are often on ego trips and they don’t value tenant retention. By moving out, they have to make repairs, pay a broker fee for a new tenant, have the risk of it becoming vacant (especially for 1/2 month), risk a bad new tenant. I’ve always mentioned these things why renegotiating and it tends to work in my favor.
min the post covid world where more people will be working from home will see people love out of the city. No commute, lower costs, bigger spaces. If the landlord doesn’t realize this, they’re being silly.
From your perspective, if you decide to love out you have to consider the time you’ll spend searching for a new apartment, brokerage fees, and moving expenses.
I don’t know what your rent is like but a 10% in NYC can be $500. You can always try a fixed amount. Instead of $4200 per month, how is $3900. Also, try to commit to a longer lease vs 1 year.
New leases fell by 60% in May in NYC
Also the amount of available apartments in NYC increased by 35% in May. June will be worse as people continue to leave the city.
Living in the City is like working for just one company for years.
You have to be constantly looking around and asking questions.
So IF you find that ONE apt you are ready to go. ....or....find that one company that loves you.
If you work for a multi-national/state company ask around about transfers to different parts of the US. COL is dramatically different than Manhattan in lots of nice places to live.
You have to be constantly looking around and asking questions.
So IF you find that ONE apt you are ready to go. ....or....find that one company that loves you.
If you work for a multi-national/state company ask around about transfers to different parts of the US. COL is dramatically different than Manhattan in lots of nice places to live.
RutgersAl hold off on signing that lease before you read this article...https://www.msn.com/en-us/money/rea...-62percent-in-may/ar-BB15lUfJ?ocid=spartanntp
Rutgersal, hold off on signing that lease. https://www.zerohedge.com/markets/m...t-plunges-most-ever-vacancies-hit-record-high
I literally moved across the street and got $900 off. The view isn’t as nice and the building is older. But for 900, I’ll live with it. Till the very end, my landlord didn’t budge an inch.
I started off asking for 400 off.
My last offer was a mere $100 off my current rent.
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