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Re: PS...does your income exceed $175,000?

Posted by Irene on January 06, 2001 at 19:47:44:

In Reply to: PS...does your income exceed $175,000? posted by Will on January 06, 2001 at 00:22:10:

I am thinking that perhaps I can become a roommate instead (and not on the lease), since my friend can have one roommate with a rent stabilized apartment. About the income, does the income of the roommate count towards the criteria for decontrolling the apartment or is it just the person on the lease. Because my income addedwith her income would pass it over that mark, would the landlord be allowed to decontrol even if only she renewed the lease with income < $175,000 (the renewal lease pushes it over $2000)

Thanks soooooo much for all your help, I am learning a great deal here. I just want to know my options here when the lease is renewed for her.

: from a snipet in a housing court case:

: "application to the DHCR to deregulate the apartment on grounds that the rent exceeded $2,000 and the household income exceeded $175,000 per year"

: Will
: : 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?

: : Thanks again!

: : : 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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