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Rent Increase by NY-LL on February 27, 2012 @13:10

What are your landlord business practices for raising the rental amount with the annual lease renewal?

We have several new tenants with one year lease agreements that want to renew with one-year and two-year extensions. We would like to renew the current lease agreements without increase for the one-year agreement. (Not sure what to do with the two-year agreement requests yet.)

Is it better to include a slight increase each year upon renewal or does it depend on factors not being considered? Please advise.
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Re: Rent Increase by Jake on February 27, 2012 @13:53 [ Reply ]
Is your area under rent control?
Re: Rent Increase by Jack Klein (NY) on February 27, 2012 @14:49 [ Reply ]
Per LPA advice, I've been successful retaining good tenants with lower gradual increases than with hitting tenants with large increases.

I use the LPA's "Lease Renewal Option" form.

Of course, like John says: If the tenants are bad, hit them with a huge increase or a non-renewal notice.

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