Tenants eye renovation discount

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Q: For six years I have lived in a beautiful six-townhouse complex with a common courtyard. The other tenants and I have become such a close-knit "family" that we even spend holidays together. Last year, a new owner bought the place and he clearly is interested in maximizing his income. In one year, he not only raised our rent by 3 percent but we have seen fliers indicating that the newly renovated units will go for almost double our current rent! As of last week, three of my neighbors have become so frustrated that they simply moved out, and these units are now being renovated. The three of us still here live with carpenters, electricians, plumbers, workers, designers, painters, etc., and all of these strangers are traipsing through our common courtyard area causing a lot of noise and mess. They are stepping on and breaking our personal gardens and plants, and we now have to keep our cats inside for days. We no longer have a key to the basement where the previou...