Posted by JJ on June 11, 2001 at 00:10:03:
In Reply to: no vacancy allowance for sublet posted by chelsea on June 10, 2001 at 01:41:45:
: The vacancy allowance still only applies once for a given tenant. It doesn't apply to a subtenant. The primary tenant still holds the lease, so only the regular guideline increase applies. 10 percent sounds like a overcharge to me, unless I'm misunderstanding something here.
: What the recent code amendments did was allow landlords to charge more than one vacancy allowance if more than one new PRIMARY tenant moves in during a given lease period (known as piggybacking). So, if a landlord moves three successive tenants in and out of an apartment during one year, he could get an increase of more than 60 percent, instead of "only" 20 percent. Before, the landlord was restricted to one increase in a given lease period, given that one guideline increase more than compensated for rising operating costs as calculated by the Rent Guidelines Board.
: By the way, maybe someday soon Tenant.net will post the complete amended RSC, not just the amendments. :)
sorry: copied wrong section of new code. this is it:
Subdivision (e) of section 2525.6 of this Part is amended to read as follows:
(e)(1) Upon the consent of the owner to a sublet [or an assignment of any lease], the legal
regulated rent payable to the owner effective upon the date of subletting [or assignment]
may be increased by the vacancy allowance, if any, provided in the Rent Guidelines Board
Order in effect at the time of the commencement date of the lease, provided the lease is a
renewal lease. [Such increase in the case of] (2) Upon the consent of an owner to an
assignment, regardless of whether or not the lease is a renewal lease, the legal regulated rent
payable to the owner effective upon the date of such assignment may be increased by (i) the
increase provided for in section 2522.8 of this Title; and (ii) which may be further increased
by the vacancy allowance, if any, provided in the Rent Guidelines Board order in effect at
the time of the commencement date of the lease. Such increases shall remain part of the
legal regulated rent for any subsequent renewal lease[; however]. However, in the case of a
subletting, upon termination of the sublease, the legal regulated rent shall revert to the legal
regulated rent without the sublet vacancy allowance.
so: is it the 20% vacancy allowance or the 10% NYTenant is talking about???
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