Building just let me know of a 40% rent increase starting in January. Anyone else experience similar?

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Is that an increase in gross or that just removed concessions

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Gross rent.

39% is the limit if you’re not in a rent controlled or rent stabilized apartment.

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I did look it up, that’s why I asked. I found multiple variations of “When a lease expires, or if there is no lease in effect, an owner of an unregulated apartment may charge what the market will bear. “
I’ve lived in rent stabilized too, so aware of those laws, but for others there isn’t a cap

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Why are you surprised? You got a huge discount when the market was at its lowest, and now the market is at its highest. It's a tough market and the landlord could easily replace you with a new tenant who can pay this price. If your discounted rate is near the maximum of what you can afford, hopefully you knew going in that this apartment would only be temporary for you.

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Well that’s 40% from a super low you signed at the bottom of the market last year, right? Prices are up quite a bit right now. My building I’m seeing about 30% up from lows ( not counting the free months being given last year)

Yeah…cause that’s what happened in the market. What’d you expect?

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Holly cow

I’ve been hearing this quite a bit. One of my coworkers had the same thing happen to them.

Find it ridiculous. In DC I think the max was 10%. Got lucky and found a rent controlled building with a discount.

My friend got hit with 50% raise

Same here 39%

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