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Re: re: Deregulation

Posted by TBONE on June 21, 2000 at 07:26:37:

In Reply to: re: Deregulation posted by MJ on June 20, 2000 at 14:53:52:

: Now that I understand the Rent Regulation Reform Act of 1997, and see how with respect to the matter of "high rent" decontrol, it is read as superseding the 1993 law and allowing that an apartment does not have to have rented for $2000 or more and then be vacated before the landlord can apply for deregulation, I have another question: the rent on an apartment we were considering is $2003--presumably that amount equals the last rent paid by the most recent tenant plus the 20% vacancy fee and 1/40 of any renovation costs. So now that the rent would be above $2000, can the landlord go and apply right now today for deregulation, or does he have to receive a $2000+ rent for some time period (even as short as month)? And if he can apply right now, before receiving a $2000 or more rent for at least one month, does anyone know how long it typically takes DHCR to approve a deregulation?

: Thanks,
: MJ

IF you rent an apartment right now paying a vacancy rent of $2003, the apartment IS deregulated. The owner doesnt have to apply for deregulation.

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