Posted by MikeW on May 04, 2001 at 11:19:51:
In Reply to: Re: Rent stabilization ending posted by chelsea on May 04, 2001 at 07:48:50:
Many of the newer stabilized building are so because the developer traded twenty years of stabilization for the same period of property tax abatements. When that period runs out, the building goes back to free market. There are rules about how that transition is made. I'm sure there somewhere in this site. It would probably be worth digging around.
: If there's no stabilization, the sky's the limit. But first, why does it say rent stabilization is ending?
: : We just received a notice that in one year our apartment will no longer be subject to Rent Stabilization. How much can the LL raise the rent when we renew our lease after the expiration of Rent Stabilization?
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