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Rent increase after fire for rent controlled apartment

Posted by Nancy on October 11, 2000 at 12:48:56:

3 years ago there was a fire in my apartment building in Westchester county. The building was inhabitable after the fire, and 6 months later it was sold. The extensive renovations are almost complete and I am planning on returning to the building. My apartment was rent controlled and since the fire, I have been paying $1.00 monthly to the old & new owners to "hold" my apartment . There are approximately 60 units in the building, we had no lease (tenants for approx. 25 years) and it was not coop or condo at the time of the fire but some apartments were rent stabilized.
My question is concerning the rent increase ie., how much and how is it determined? Is there a difference between capitol improvements and more extensive renovations? How does that effect rent controlled apartments?
Thanks for this forum and any help would be greatly appreciated!

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