Rent is skyrocketing across the Finger Lakes and Upstate New York.
In some cases, it’s increasing by 30% in one shot.
The Federal Reserve bank of New York indicates that rent costs would increase by an average of 10% this year.
Despite some state lawmakers’ interest in creating rent stabilization laws, there isn’t much going in favor of tenants at the moment.
According to Phil Hurwitz, an attorney who worked in housing law for 15 years who spoke with 13WHAM, it comes down to timing and communication. Those are the only two things landlords have to worry about.
“Presuming the landlord gave the tenant the required advance notice, the tenant either has to pay up or move out,” Hurwitz said.
That notice includes 30 days for renters who have lived in an apartment for less than a year, 60 days if the’ve lived 1-2 years, or 90 days if they have been in place for more than two years.
“It’s the landlord’s private property, they can charge what the market will bear,” Hurwitz added.
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