Emily Myers

With so many New Yorkers leaving the city, the advantages are not just for new renters. For the most part, it's more economical for landlords to retain existing tenants rather than turn over apartments and bring in new tenants. So even if your lease is not up, you also have some opportunities. The following are some scenarios where you may have some leverage.

A more optimistic indicator of NYC's recovery shows apartment sales reached pre-pandemic levels last month, according to StreetEasy.

A couple living in a third floor walk-up in Bed-Stuy saw an opportunity in the current rent climate to upgrade to a new place, in neighboring Clinton Hill. The landlord’s flexibility on the pet policy as well as the apartment’s vintage details made it a deal they couldn’t walk away from.

Even if your building doesn't promote rent credits, or you rent from a small landlord, it may be something to ask about. Some buildings say referral programs generate a lot of leases so your landlord may be interested in striking a deal. However, it's also important for you to know the legal issues to avoid getting into trouble. Read on.

Queens has a near record-setting sale—a penthouse at Tangram House South in Flushing—which just sold for $3,099,800.

"Buyouts are far from dead and we are absolutely getting traction on deals for decent amounts of money,” says Steven Wagner, a co-op and condo attorney at Wagner, Berkow & Brandt who has decades of experience negotiating these kinds of deals on behalf of renters.