https://blog.openigloo.com/5-things-you-should-know-before-renting-in-new-york/ As median rents in NYC continue to rise, renters are left weighing the costs of moving or renewing. For the past few months, New Yorkers (especially in Manhattan) have experienced record lease renewals – sometimes upward of 50%. In June, rent increases on lease renewals for market-rate apartments averaged 13.8%. While 50%+ increases are slowing down, rent increases on renewals are still triple what they were during the same period last year.<br>Renters have been sharing details of their rental experiences and their renewals on openigloo. Many renters have reached out to us asking whether they should move or renew. Our advice is to research the rent prices in their neighborhood and see what others are quoted. For example, in Brooklyn the average June renewal was anincrease of 11%. This figure can act as a benchmark for those negotiating their rents. For those that decide to move, we encourage renters to research their prospective landlords to see what kind of rent increases they can expect to see. Fri, 22 Sep 2023 12:58:20 +0000 hourly 1 https://blog.openigloo.com/5-things-you-should-know-before-renting-in-new-york/comment-page-1/#comment-355 Fri, 22 Sep 2023 12:58:20 +0000 https://blog.openigloo.com/?p=709#comment-355 […] Read more about avoiding rental scams here. […]

]]> https://blog.openigloo.com/5-things-you-should-know-before-renting-in-new-york/comment-page-1/#comment-311 Mon, 03 Jul 2023 23:05:54 +0000 https://blog.openigloo.com/?p=709#comment-311 […] Read about rental scams […]

]]> https://blog.openigloo.com/5-things-you-should-know-before-renting-in-new-york/comment-page-1/#comment-167 Fri, 12 May 2023 20:29:52 +0000 https://blog.openigloo.com/?p=709#comment-167 […] you a pet owner renting in NYC? If so, you may have some questions about apartment hunting with a furry […]

]]> https://blog.openigloo.com/5-things-you-should-know-before-renting-in-new-york/comment-page-1/#comment-40 Mon, 06 Feb 2023 22:29:50 +0000 https://blog.openigloo.com/?p=709#comment-40 […] New York is not easy. Housing is competitive, prices are volatile, and applications are invasive. First-time renters may be overwhelmed by how much information brokers and landlords ask for. At openigloo, we often […]

]]> https://blog.openigloo.com/5-things-you-should-know-before-renting-in-new-york/comment-page-1/#comment-39 Thu, 02 Feb 2023 19:36:49 +0000 https://blog.openigloo.com/?p=709#comment-39 […] rule of thumb is that you shouldn’t spend more than 30% of your salary on rent. Of course, in high-rent cities like New York, this can be a challenge. Do some budgeting and come up with a new number of what you can […]

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