Posted by Irene on January 05, 2001 at 16:45:40:
In Reply to: Re: new rent posted by Lilly on January 05, 2001 at 15:11:32:
Thanks, oh my goodness, the 20% vacancy pushes it up to it being decontrolled, after it is decontrolled, he can make the apartment whatever rent he chooses, right?
: If no renovations are done to the apartment after your friend moves out: 20% vacancy allowance on top of the old rent, plus 4% for 1 year lease or 6% for a 2 year lease.
: If the landlord substantially renovates the apartment, 1/40 of the total cost (excluding finance charges) added to the monthly rent your friend was paying, plus 20% vacancy allowance, plus the 4% or 6%.
: If any or all of this moves the rent up to $2000 per month, then it's de-controlled.
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