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Re: Preferential Rent vs. "Legal Rent" of my apartment

Posted by New York Tenant on July 24, 2001 at 09:38:54:

In Reply to: posted by Selmerboy on July 23, 2001 at 13:07:17:

Does the lease clause say if the preferential rent applies only for a certain period of time?

The Appellate Division, First Department (covering Manhattan and the Bronx) recently ruled that a landlord can use the legal rent, instead of the preferential rent, as the basis for a renewal increase, if the original lease clause limited the period of time that the preferential rent applied.

This issue will probably be settled by the Court of Appeals, which is New York's highest court.  
: HI - this is my first post. I am moving into an apartment in Astoria in a week or so, and when I signed my lease, the Manager made a big deal about how the rent we were going to be paying was less than the "legal rent" of the apartment. I even had to initial a clause in the lease that spelled that out. His implication was that he could've charged more, but he liked us, so . . . whatever.

: Anyway, what's the deal with this. Am I really lucky? Maybe he was just under pressure to rent the Apt, or maybe it's just another kind of line. How does this affect my rights when I want to renew the lease? Does this mean he can jack up the rent more?

: Thanks
: Selmerboy

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