New York City Luxury Rental Blog

You have finally found the perfect apartment, with a view of the city you’ve always dreamed of, through classic wooden panel windows. You have a washer/dryer, a beautiful courtyard, and your favorite furry companion is welcome too. But before you sign the lease for your new luxury apartment, beware of these hidden costs that can sneak up on you and add thousands to your rent:

^{President of the Rent Stabilization Association: Joseph Strasburg} 

The Rent Guidelines Board (RGB) will be making a highly debated decision next week in regards to a percentile increase of rent stabilized apartments. Although this vote takes place every year, this year’s decision has been exceptionally publicized due to a potential rent freeze. Bill de Blasio, the first mayor to ever run on the platform of a rent freeze, may come through on his promise—considering that over half the board has been given a seat via his appointment. Although the board favors implementation of the first rent freeze in NYC history, the Rent Stabilization Association (RSA) has other ideas.

Despite the current luxury condo boom, this is still a city of renters. In such a fast-paced city and market, sometimes it's good to take a step back and make sure you're covering all of the bases. From protecting your valuables to thinking ahead, this is what every renter in NYC needs:
 

Rent increases for rent-stabilized apartments are decided by the Rent Guidelines Board (RGB) of New York City every year. Since 1969, the RGB has always voted to increase the rent rates in NYC.

_{Image via Flickr/Andos_pics}

The numbers are in, and this past April had some interesting happenings in the world of rentals. Using the year-over scale, when we look at the price of an apartment from the year before and compare it to this year’s, Manhattan median rental prices had been declining for six consecutive months until they increased by a minute 0.2 percent in March. This April, the median cost to rent an apartment in Manhattan again increased from the same month last year, now up to $3,247 per month, 1.6 percent higher than April 2013’s $3,195.