https://blog.openigloo.com/7-things-every-nyc-renter-know-security-deposits/ 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. Mon, 04 Nov 2024 21:58:27 +0000 hourly 1 https://blog.openigloo.com/7-things-every-nyc-renter-know-security-deposits/comment-page-1/#comment-1038 Mon, 04 Nov 2024 21:58:27 +0000 https://blog.openigloo.com/?p=117#comment-1038 […] info or guidance on lease breaks, rent negotiation, rent-stabilization rules, Good Cause Eviction, security deposit rules, broker fees and more, be sure to browse our resources […]

]]> https://blog.openigloo.com/7-things-every-nyc-renter-know-security-deposits/comment-page-1/#comment-616 Tue, 16 Apr 2024 18:29:38 +0000 https://blog.openigloo.com/?p=117#comment-616 […] rental data to DHCR every year. However, DHCR rarely confirms if the data is accurate, leaving renters on their own to spot any discrepancies. On top of that, rental histories are not public record and […]

]]> https://blog.openigloo.com/7-things-every-nyc-renter-know-security-deposits/comment-page-1/#comment-183 Mon, 15 May 2023 14:07:54 +0000 https://blog.openigloo.com/?p=117#comment-183 […] Read about NYC security deposits […]

]]> https://blog.openigloo.com/7-things-every-nyc-renter-know-security-deposits/comment-page-1/#comment-11 Wed, 21 Dec 2022 04:18:09 +0000 https://blog.openigloo.com/?p=117#comment-11 […] heat, owner responsiveness, and garbage management. They share whether they received their security deposit back, if they would recommend their building to a friend, and how much their rent went up. In doing […]

]]> https://blog.openigloo.com/7-things-every-nyc-renter-know-security-deposits/comment-page-1/#comment-5 Thu, 03 Nov 2022 11:32:29 +0000 https://blog.openigloo.com/?p=117#comment-5 […] Renters with market-rate apartments should receive their deposits back within 14 days. Landlords have to explain and itemize damages within that 14-day window. If they don’t, they have forfeited the deposit back to you. Navigating security deposits in NYC is tough but it’s important to know the laws in place to protect tenants from landlords unjustly keeping deposits. Check out our post about security deposits here. […]

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