Posted by Chris Martin on May 22, 2001 at 14:44:37:
My apartment has a legal rent of just under $2000 but I pay
a preferential rent that is substantially less than that.
(I believe this is because the landlord was not able to raise
the rent during the early '90s when the soft economy was soft).
Currently at the end of each lease he increases both the legal rent
and the preferential rent by the rent stabilized limit. However, I
only have to pay the preferential rent. I assume if I were to
move out the new tenant would pay the legal rent (plus any
What I want to know is if the apartment will become subject to luxury
decontrol when the legal rent goes over $2000 even if the preferential
rent is sill below $2000 (and I have not given up my lease).
I know this is a rather arcane question., but if anyone knows the answer I would be much appreciative.
Note: Posting is disabled in all archives
Post a Followup