Q: Do perspective tenants have to pay for renovations of an apartment prior to a move-in?
Hi. I live in New York and am interested in moving to another apt there. The new apt would be in a lower level than where I presently reside and has additional conveniences from my present place of residence. The owner of the new apt has given me a quote of one rate but in order to keep the rental rate low, he has asked for an additional sum of money that he used to renovate the apt prior to the move-in. I have never heard of this practice of paying for renovations prior to a move-in. Aren't cost of repairs covered by security deposits made AFTER an occupant has vacated the property? How could a perspective tenant be responsible for the cost of renovations performed prior to moving in?
A: It seems that the owner is offering to rent the apt to you at a lower rent in exchange for paying for the improvements. It would be better practice for him to charge you a higher rent since he has made improvements.
Steven Warren Smollens agrees with this answer
1 user found this answer helpful
A:
Dear Brooklyn Tenant
The cooperative apartment owner isn't interested in fancy tax policies like depreciation or other methods of dealing with capital improvements in the unit. This person wants money back in his wallet and you came around to rent his apartment. He is entitled to propose any riduculous terms he wants to do as you are as entitled to say No and say no deal.
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