Is it advisable to sign a 1 year lease (which ends in March 2022 or 18 month lease (which ends in Aug 2022)? Thinking ahead and wondering if the city will be back to normal next year, and whether its better to lock in a good price for longer but risk having to look for an apartment at peak summer period in Aug

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Rent tends to be cheaper during the colder months. If I were you I would do the 12 months.

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That’s only 6 months difference, so I wouldn’t over think it. Usually landlords don’t raise rent that much if you renew your lease. I am guessing your building isn’t rent stabilized? If you don’t know might be worth asking.

I would pick the cheaper net rent. Rents in the summer will be higher than March in most years, so renewing in March is unlikely to be a higher rent than renewing the following summer. Next March is too soon for offices to be back at full capacity, which is the circumstance that would cause rents to rise.

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the longer the better but if you can avoid putting yourself in a situation where you’ll be looking for an apartment during the summer, that’s def better. can you do a 2 year lease?

Given the possibility of another wave, I personally think the shorter the lease, the better. If the city locks down again, then you won’t be on the hook for so much rent if you ever decide to live elsewhere temporarily. I’ve had too many friends who coughed up tens of thousands in rent for an empty apartment last year, because they were stuck on a lease. Of course, if you’re completely set on staying in NYC regardless what happens then this doesn’t apply.

And honestly, moving is a part of life in NYC. I’ve moved every year in the 7 years I’ve been in the city.

That remains to be seen since we’re still at 8k+ cases a day. I thought the same, then parts of the city went into lockdown again and again. It’s really up to how bad these new variants get.

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They won’t give you a cheaper rent they will offer a free month up to 3. This way they can jack it up the following year so trying to sign for 18 months won’t be that beneficial

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