Rents are supposedly down, but you can hardly blame landlords for trying to obscure the fact from their existing tenants. Raising rents on them, however— not so kosher. Witness a satisfying rent reveal in NY: "The leasing office quotes this guy a price. And the guy says, that’s funny, I already live in an identical apartment here and now not only am I definitely not paying the rent increase you just gave me on my new lease here ... I’m going to pay 12% less in rent, because that’s how much less of a price you just quoted me as a new tenant." Think that'll work at CitiApartments or Trinity? [The Awl]
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