You mentioned that you were told that your rent would only increase 10 dollars or so. I'm curious to know who told you that since unless it's specifically outlined in the lease and agreed upon by the landlord, it's not really binding.
I am sorry to hear that your rent is going up! That's never fun. The typical rent increase is anywhere from 1-6% annually. These are considered "fair" numbers, although the landlord can typically raise the rent as much as she sees fit. If this is a 20% increase, that is a significant raise in rent. Perhaps you should try to negotiate. If you have been a good tenant, your landlord would definitely rather negotiate a little to keep you there, rather than have to try and find a new tenant and hope that they are as good as you!
If you do decide to move, please don't hesitate to reach out to me directly. I specialize in Midtown West/Hell's Kitchen/Clinton areas. I would love to lend my expertise.
Licensed Real Estate Salesperson
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DOM PASCUAL, J.D., ESQ.
ASSOCIATE REAL ESTATE BROKER
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New York, NY 10010
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Are you buying or renting?
Market Values are increasing; and so is rent.
The Market is going back up.
The people who were waiting for the BOTTOM, are going to be disappointed.