Suite Nothings: Renegotiating your rent in Manhattan

In 2009, people had a lot of success renegotiating their rents for renewal, because landlords were terrified by the downturn in the market. 2010, however, brings a different story. While you might still be able to convince your landlord to offer some rent concession, it will likely be a fraction of whatever you received last year. For example, if you got 2 months free last year (you lucky bum!), then this year you can probably haggle your way to 2-4 weeks free. That’s still great, relative to historic NYC rents, but it indicates that the market is starting to strengthen, so enjoy it while it lasts. Even the large rental companies, such as Related and Glenwood, and beginning to offer fewer concessions on their more desirable properties, so don’t expect this to be a love fest forever. That said, if you need me to send you some listings comparable to your current apartment, so you can use them as ammunition in your negotiations, I would be happy to lend a hand.