Renter’s Rights

According to a recent study, 68% of the residents in NYC are renters. But how many of those know their rights as tenants? As soon as you sign the lease agreement, you are entitled to a couple of basic renter rights, which include but are not limited to:

• Right to live in a safe and well-maintained building
• Right to heat services during winter
• Right to know about the yearly rent increase
• Right to freeze rent if you are aged above 62
• Right to complain about services
• Right to fair and equal treatment

You can get more information about NYC renter’s rights here.

Renter’s Insurance:

Do you need a renter’s insurance? A big yes. Why? Well, if damage happens in your apartment that has nothing to do with you, it could still affect you. Insurance will help you big time in any of these scenarios:

• Fire in your apartment or the neighborhood
• Injury to someone in the apartment building
• Power damage
• Loss of personal belongings
• Any repair and damage in the building

On average, the insurance will cost you $15/month and depend on the size of your rental apartment and value of your assets. It is always best to estimate the total cost of your possessions and then get an insurance plan.