I’m about to sign a year lease on a place where management is giving us one month free. Instead netting it over 12 monthly payments, they want 11 monthly payments and the last remaining month free.

They say they’re doing this out of convenience for us but I find it very inconvenient as my monthly rent is now higher than what was originally stated … what kind of questions should I be asking to get them to net our rent payments?

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This is standard.

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Yup, standard in NY. It has a couple purposes for them:
1) attracks you with lower effective net rent
2) there’s stickiness in rental (moving is expensive and annoying). Once you are in an unit is harder for you to leave. You are more willing to leave if they increase your rent by 13% instead of 3-5%.
3) higher cash flow for them
4) makes you less likely to break your lease
5) make them have to qualify you for the gross rent not the net rent, lowers their risk that you will not be able to pay

That being said there is no convenience to you. It’s all for them.

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Thank you for this!! Makes a lot of sense.

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Post Photo
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