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Whatever the market will bear...

Posted by MikeW on January 06, 2000 at 16:37:05:

In Reply to: Rent Increase Caps for Free Market Apartments (NON RENT STABILIZED) posted by Brian Roces on January 06, 2000 at 10:22:35:

For an unregulated apartment, the LL can charge whatever they can get. There was some case law a while back that challeged the deregulation of unsold coop units, but I seem to remember that being overturned on appeal.

The short answer is that your out of luck.

: Is there a increase cap on Free Market apartments? My new lease is a 10% increase. Is that legal? What instruments do they use to determine what the increase is ala RGB 2%-4% increases? I currently live in a COOP building with a number of rental units and of course owner occupied, approx 72 apts.

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