Impact of Defining ‘Reasonable’ Rent Increases

Defining what constitutes a ‘reasonable’ increase in rent has significant consequences. This action not only places a limit on landlords’ behavior but also creates a standard that they might feel compelled to follow.

For over ten years, I have been a small landlord in New York. Throughout my experience, I have been familiar with my tenants, maintaining a personal connection. This approach has been common among other small landlords I know. Operating with flexibility and discretion was typical. Raising rent was something I often avoided if tenants proved to be good neighbors and reliable in their payments.