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Updated about 6 years ago on . Most recent reply

Jon Sirkin's profile image
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Jon Sirkin
  • Real Estate Professional
  • from Marion, NY
  • Member since Oct 19, 2016
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Jon Sirkin's profile image
Jon Sirkin's profile image
Jon Sirkin
  • Real Estate Professional
  • from Marion, NY
  • Member since Oct 19, 2016
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Jon Sirkin
  • Real Estate Professional
  • Marion, NY
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General Landlording & Rental Properties

Raising the rent What is the max on rent adjustment"?

Jon Sirkin
  • Real Estate Professional
  • Marion, NY
Posted

I am purchasing my first mixed use commercial property. Average rents are 6-7 one tenet is 4.  Once lease is up what would be accepted for a lease adjustment in price. would 5 be over the top? 

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Nick Rutkowski's profile image
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Nick Rutkowski
  • Rental Property Investor
  • from Ithaca, NY
  • Member since Nov 4, 2015
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Nick Rutkowski's profile image
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Nick Rutkowski
  • Rental Property Investor
  • from Ithaca, NY
  • Member since Nov 4, 2015
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Nick Rutkowski
  • Rental Property Investor
  • Ithaca, NY
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Nick Rutkowski
  • Rental Property Investor
  • Ithaca, NY
Replied

@Jon Sirkin Depends on your market. What are rental rates in your area?  If it's in NYC you'll have to deal with rent control but in good ol Upstate - we don't deal with that nonsense. 

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